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Tektonic AI Secures $10M Funding to Develop GenAI Agents for Business Automation

ByYasmeeta Oon

Jun 10, 2024
Tektonic AI Secures $10M Funding to Develop GenAI Agents for Business Automation

Tektonic AI Secures $10M Funding to Develop GenAI Agents for Business Automation

In a significant development in the field of enterprise software, Seattle-based startup Tektonic has emerged from stealth mode, announcing a substantial $10 million seed funding round led by Point72 Ventures and Madrona Ventures. The company, co-founded by Nic Surpatanu, former executive at Tanium, UiPath, and Microsoft, aims to redefine workflow automation by integrating generative AI (GenAI) with traditional symbolic methods.

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Only a few years ago, Robotic Process Automation (RPA) was touted as a transformative technology for enterprises, designed to automate mundane and repetitive tasks. However, the technology often fell short when dealing with dynamic business processes that required adaptability and contextual understanding—areas where RPA struggled significantly.

The advent of generative AI seems to offer the solutions that RPA lacked. According to Surpatanu, generative AI provides a level of adaptability and user intent understanding previously unattainable with traditional methods. This new capability could improve how automated systems handle changes and maintain accuracy in rapidly evolving environments.

Tektonic’s approach to automation involves a synergy between GenAI and symbolic methods, a combination Surpatanu believes is crucial to extracting the maximum potential from AI technologies. The startup focuses on automating complex workflows such as quotes and renewals—areas traditionally plagued with manual tasks that vary significantly from one business to another.

  • Natural Language Processing: Allows users to interact with GenAI agents using everyday language to streamline workflow creation.
  • Entity Extraction and Mapping: Enhances the understanding of semantic entities and their correlation with user intents.
  • Flexible Automation Framework: Provides adaptability to cover a broader range of scenarios than previously possible with traditional RPA.

Surpatanu’s experience at leading tech firms like UiPath and Microsoft has profoundly shaped his vision for Tektonic. He emphasizes that while generative AI is powerful, treating it as a “magic box” without integrating it with established software methods would be a mistake. Instead, he advocates for a balanced approach where AI complements traditional techniques to enhance system reliability and efficiency.

The enthusiasm for Tektonic’s potential is shared by its investors. In their announcement, representatives from Madrona Ventures, including Steve Singh, Ted Kummert, and Palak Goel, highlighted the transformative potential of generative AI in rethinking process automation. They foresee a future where sales representatives, among other users, could leverage AI-based agents to manage their workflows, allowing them more time to focus on customer interactions.

Despite being in the early stages of development, Tektonic is actively collaborating with several design partners to refine and expand its systems. Surpatanu shares an ambitious vision for the future, where Tektonic aims to become a leading SaaS provider, seamlessly integrating with the APIs of various systems through a user-friendly platform. Currently, implementing Tektonic requires setting up the system within a business’s virtual private cloud.

What’s Next for Tektonic:

  • Short-term: Focus on enhancing the current automation capabilities from 50% to 80%.
  • Long-term: Transition to a comprehensive SaaS model, simplifying integration with existing business systems.

As Tektonic steps into the competitive landscape of process automation with its innovative use of generative AI, the industry watches closely. With its recent funding and strategic vision, Tektonic is poised to address the limitations of traditional RPA and push the boundaries of what automated systems can achieve, promising a more flexible and intelligent approach to enterprise automation.

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Featured Image courtesy of DALL-E by ChatGPT

Yasmeeta Oon

Just a girl trying to break into the world of journalism, constantly on the hunt for the next big story to share.

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