The London-based procurement software company, AutogenAI, continues to grow after securing its $39.5m Series B round, co-led by Salesforce Ventures and Spark Capital with participation from Blossom Capital. Marriott Harrison advised both Spark and Blossom.
AutogenAI utilises generative AI to assist companies in writing bids and tenders for the public sector and corporate contracts. Using generative AI, AutogenAI’s software enhances the capacity of bid writing teams, allowing them to focus on strategy. The company delivers an 85% cost saving and a 30% win-rate improvement for Fortune 500 customers.
AutogenAI has experienced rapid growth following its last fundraising round with its expansion into the US and Australia, and the appointment of new CEOs, Elizabeth Lukas and Emma Crichton. With this further round of funding, AutogenAI will develop its bid-writing product suite to help businesses win work more effectively.
David Strong and Iona Jones, were pleased to advise Spark Capital and Blossom Capital as they support AutogenAI on their continued growth progression. The team previously advised Blossom on the company’s Series A.