Iterate.ai Raises $6.4M in Funding to Deliver Private, Edge-Based AI Solutions

Iterate.ai announced it has secured $6.4 million in a recent funding round, enabling the company to expands distribution channels and introduce its key productivity solution, Generate Enterprise.

The funding round was led by Auxier Asset Management, with participation from Peter Cobb, Mike Edwards, and Dave Zentmyer. All four are former eBags board members. Jeff Auxier, founder of Auxier Asset Management, was a longtime board member at eBags, where he worked closely with Iterate.ai CEO Jon Nordmark.

The investors’ decision to collaborate once again with Nordmark and his CDTO/co-founder Brian Sathianathan reflects the strong trust and mutual respect established during their successful tenure together at eBags, which sold $1.65 billion worth of travel products before it was acquired, according to Iterate.ai.

“Iterate.ai’s approach to AI innovation is not only forward-thinking but also pragmatic, ensuring real-world application and success for enterprises,” said Cobb. “Look at how Iterate partnered with Intel to pioneer AI inference processing using CPUs on the Edge.”

Iterate.ai offers an AI platform and four distinct AI products, including its newest product, Generate. Generate is an AI Assistant that can run entirely on an AI PC, even without an internet connection.

Iterate’s low-code AI platform, Interplay, empowers traditional enterprises and big tech to rapidly build and scale AI solutions.

For more information about this news, visit www.iterate.ai.