Vultron, an AI-based proposal development solution for the public sector, announced that it has secured $4.85 million in seed funding. The funding round was led by Craft Ventures and Long Journey Ventures, with participation from South Park Commons, Conviction Embed, and angel investors including Gokul Rajaram, Josh Buckley, Lenny Rachitsky, and others.
Vultron has achieved 16 times revenue growth in the past year, and this funding round will allow the company to continue scaling to meet growing demand.
Securing federal contracts is essential for the nation’s growth, but pursuing these opportunities can be daunting. Last year, there was spending levels of hundreds of billions of dollars with over 100,000 U.S. companies receiving prime contract awards. To close these contracts, companies have to prepare and submit proposals in response to the Request for Proposal (RFP) process.
Federal proposal development is time-intensive and expensive and the costs typically range from 3% to 5% of the total awarded contract value and over 10% for complex pursuits. Plus, government contractors of all sizes face the same challenges: strict compliance requirements, tight deadlines, cost containment, and increased competition.
This is why the technology industry has introduced AI solutions to improve specific tasks within existing proposal development processes. And while these AI-powered tools assist contractors with aspects of their workflows, they have yet to drive significant improvements in overall efficiency or proposal quality. In certain cases, AI-based workflows like prompting can increase the total effort required.
Vultron believes that the future of AI extends beyond capabilities that complement certain parts of the workflow and it will be the platform on which the entire workflow is built. And Vultron’s platform orchestrates and embeds domain-specific AI capabilities throughout the federal proposal development lifecycle using an outcomes-based approach. This enables government contractors to consistently and efficiently produce high-quality proposals.
The company’s recent launch of advanced features like Automatic Intelligence Incorporation, Instant Red Team Draft, and the Expert Review & Scoring Engine has enabled customers to increase overall efficiency by 86% and significantly improve proposal quality.
By compressing production timelines and automating analysis, writing, and workflow tasks, Vultron offers a significant return on investment to its customers, achieving a 54% reduction in proposal development costs and a 92% decrease in drafting time. And Vultron transforms key proposal development practices, rendering many traditional workflows obsolete and replaces them with streamlined, automated processes. Vultron customers have been experiencing improvements in overall productivity as well as staff development and satisfaction.
This funding round will enable Vultron to further expand its solution’s capabilities and drive strategic growth, providing invaluable support to the public sector. And the investment will help contractors submit higher-value proposals to the federal government, optimize resources for delivering high-quality contract performance, and focus on critical areas like workforce development and strategic capabilities.
KEY QUOTES:
“We’re saving time, and time means money. We compared it to our manual approach, and hands down, Vultron was far easier. And let me tell you, there’s no comparison. Vultron has saved us significant time. Every hour spent in Vultron equated to over 5 hours saved.”
-Carolyn Trinta, Chief Business Development Officer at Bright Apps, a Vultron customer
“At Vultron, we’re using AI to create the future of proposal development, so you can focus on increasing your business development, strategy, and capture efforts. It’s incredibly rewarding to witness the evolution of our customers. In the first few weeks, they produce higher-quality proposals and experience increased efficiency. For the first time, they’re in control of their processes and time. After a few months with Vultron, customers report feeling more energized while working on proposals. They are learning new skills and becoming more strategic in their approach.”
-Mac Liu, Founder and CEO at Vultron
“We are excited about businesses building AI solutions to transform operationally intensive workflows and believe there is a compelling opportunity within government contracting. Vultron is the market leader in this area and their product is the best-in-class solution for organizations that produce extensive, competitive proposals. Vultron is already driving business growth for Fortune 100 enterprises and small to mid-sized companies across the industry. We are honored to partner with the Vultron team to reimagine the future of government contracting.”
-Jeff Fluhr, Partner at Craft Ventures
