AI startup Cohere has acquired Ottogrid, a Vancouver-based platform that develops enterprise tools for automating certain kinds of high-level market research.
Sully Omarr, one of the founders of Ottogrid, announced the deal Friday in a post on X. He didn’t disclose the terms.
Ottogrid will sunset its product, according to Omarr, but give customers “ample notice” and “a reasonable transition period.”
“We’re very excited to join the Cohere team and integrate Ottogrid into Cohere’s […] platform,” Omarr said in a statement. “Through our work with Cohere, we’re [going to] dramatically impact how people can automate their workflows, enrich their data, and scale their operations.”
Cohere didn’t immediately respond to a request for comment.
Cohere’s purchase of Ottogrid comes as the former experiences a bit of corporate turbulence. According to The Information, Cohere fell well short of revenue projections the company prepared in early 2023, missing its target for last year by 85%.
The company told Reuters on Thursday that its annualized revenue recently reached $100 million, following a strategic shift with a focus on private AI deployments for customers in sectors like healthcare, government, and finance.
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Ottogrid launched in 2023 as Cognosys, led by Omarr and Homam Malkawi. It rebranded in October 2024 with a major platform redesign that introduced a number of new integrations, tools, and APIs.
Today, Ottogrid offers a “native table interface” with AI-powered document analysis capabilities. Customers can use it to extract data from a website and save it directly to a spreadsheet, for example, or automatically enrich sales lead lists.
Ottogrid managed to raise $2 million in venture capital from investors including GV (Google’s venture arm), Untapped Capital, Replit CEO Amjad Masad, Vercel CEO Guillermo Rauch, Cohere co-founders Ivan Zhang and Aidan Gomez, and others prior to its exit, according to Crunchbase.
As part of Cohere, Omarr says that Ottogrid will focus primarily on North, Cohere’s recently launched ChatGPT-style application designed to assist knowledge workers with tasks such as summarizing documents.