AutogenAI, an automated proposal writing startup, raises $39.5M with Salesforce Ventures and others

ByYasmeeta Oon

Dec 7, 2023

Creating proposals to meet requests-for-proposals (RFPs) and secure funding can be a daunting task, even for seasoned organizations. This typically involves providing precise yet repetitive information across various form fields while adhering to strict requirements. However, nailing this process is crucial for organizations submitting proposals, as it can determine whether they win a crucial contract or lose out.

Today, AutogenAI, a startup based in the UK, is introducing the concept of extensive automation with human oversight to streamline this process, and it appears that investors are onboard with the idea.

Following its recent expansion into the U.S., as reported by VentureBeat in October, AutogenAI has just announced a successful $39.5 million Series B funding round. This funding round was co-led by major players like Salesforce Ventures and Spark Capital, with contributions from Blossom Capital, bringing AutogenAI’s total investments to date to $65.3 million.

It’s important to clarify that AutogenAI is not directly affiliated with Microsoft’s AutoGen, an AI agent framework.

AutogenAI’s journey began with its founder and CEO, Sean Williams, who started as a bid writer. Over time, the company has grown into one of the UK’s fastest-growing generative AI companies. Now, it’s making significant strides globally, expanding into the U.S. and Australia, with CEOs Elizabeth Lukas and Emma Crichton leading the way in these regions.

AutogenAI’s core offering revolves around its advanced bid-writing product suite, designed to revolutionize the way organizations, from Fortune 500 companies to non-profits, approach the labor-intensive bidding process. By harnessing cutting-edge AI technology, AutogenAI empowers these organizations to create bids, tenders, and proposals more efficiently and persuasively.

What sets AutogenAI apart is the tangible impact of its software on business outcomes. According to the company’s data, clients have experienced an impressive 30% increase in win rates, resulting in over $100 million in additional business, all while reducing associated costs by up to 85%.

Nowi Kallen, Managing Director at Salesforce Ventures, praised AutogenAI’s software, calling it a game-changer for enterprises involved in tendering and proposal drafting. Kallen noted that generative AI is transforming the landscape, and AutogenAI’s innovative use of this technology is groundbreaking.

Debbie Brockbank, Interim Growth Director at Hinduja Global Solutions, echoed this sentiment, emphasizing the software’s role in significantly enhancing the productivity of bid teams. She highlighted improved consistency and cohesion in completed bids, a transformation in the speed to reach the initial selection phase, and enhanced communication within organizations.

Addressing concerns regarding data security in AI adoption, AutogenAI has prioritized privacy and factual accuracy from the outset. Their latest innovation, Bowdleriser, ensures that confidential information is removed from corporate documents to maintain privacy and security while still providing shareable versions.

AutogenAI’s CEO, Sean Williams, expressed confidence in the company’s unique methodologies, emphasizing the importance of dependable source materials for verifying information. He highlighted the rapid, measurable return on investment that clients achieve, using the platform as a springboard for embracing and expanding with generative AI.

As AutogenAI continues its upward trajectory, it is poised to become a standard toolkit for bid teams not only in the UK, U.S., and Australia but potentially beyond in the near future.

Yasmeeta Oon

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