Augmented Intelligence raises $10M at $350M valuation, forms AI agent partnership with Google Cloud
Augmented Intelligence raises $10M at $350M valuation, forms AI agent partnership with Google Cloud
The partnership will bring AUI’s Apollo model to companies needing robust AI solutions for customer interactions.
Israeli startup Augmented Intelligence (AUI) announced on Monday a strategic partnership with Google Cloud aimed at accelerating the deployment of AI agents for consumer and enterprise companies, as well as a fresh round of $10 million in funding at a $350 million valuation.
At the heart of the partnership is AUI’s agentic language model, Apollo, which integrates neuro-symbolic architecture to create a new generation of conversational AI agents. By combining the linguistic finesse of generative AI with the predictability of rule-based systems, Apollo delivers AI agents that are not only capable of handling complex conversations but are also controllable, transparent, and safe. These attributes make it particularly well-suited for industries that demand reliability and precision in their AI systems, from sales-driven consumer companies to highly regulated sectors.
"We're excited to bring the next generation of AI Agents technology to customers around the world,” said Ohad Elhelo, CEO of Augmented Intelligence. “With a significant footprint in both consumer and regulated industries, Google Cloud is an ideal partner to deliver Apollo to companies of all types and sizes, at scale, and with the security and compliance that businesses have come to expect from Google Cloud."
AUI was founded in September 2017 by Ohad Elhelo and Ori Cohen, currently employing around 40 people and recruiting for additional positions in its New York and Tel Aviv offices. Over the past seven years, the company has worked on developing its AI agent technology, which was unveiled today. According to the company, its flagship model, Apollo, surpasses GPT-4 and similar engines in its ability to operate AI agents with tool usage capabilities, connection to systems, control over model outputs, full transparency of its decision-making process, higher accuracy in response quality, and the ability to evolve through precision and adaptation from human feedback. The strategic partnership with Google is the first public agreement revealed among a series of deals the company is expected to announce by the end of the year.
The new funding brings the total funds raised by the company to $44 million. Since its establishment, the company's valuation has surged from $5 million, with a $250k raise, to $9 million with a $2.25 million raise, to $130 million with a $22 million raise, and finally to its current valuation of $350 million. The current round included New Era Capital Partners, along with existing investors, including former IBM President Jim Whitehurst, Joshua Boger, founder of Vertex Pharmaceuticals, which is publicly traded at a $120 billion valuation, Aron Ain, Chairman of the SaaS company UKG, Bradley Bloom, co-founder of Berkshire Partners, Dadi Perlmutter, former EVP of Intel, and others.
