Total amount raised
$18 Millions
Latest funding date
08/01/2023
Location
Akkio has successfully raised funds through a Series A round, with backing from investors such as Pandome and Bain Capital Ventures. The company specializes in generative analytics and machine learning, offering a no-code AI platform designed to streamline various business processes.
Keep reading to explore the intricacies of Akkio's fundraising journey and the investors backing this innovative platform.
What Is Akkio?
Akkio, founded in June 2019, is an AI company based in Boston, Massachusetts. The company specializes in generative analytics and machine learning, offering a no-code AI platform designed to streamline various business processes.
The founders of Akkio are Abraham Parangi, Craig Wisneski, Ekin Keserer, and Jon Reilly. Their platform is tailored for advertising agencies, focusing on making data insights accessible and actionable for optimizing media campaigns.
With a team of 11-50 employees, Akkio provides tools for media strategy and planning, campaign execution and management, and data analysis and reporting. Their services include audience discovery, media mix design, performance analysis, outcome forecasting, and result visualization.
How Much Funding Has Akkio Raised?
- Seed Round
- Amount Raised: $3M
- Date: September 2021
- Lead Investors: Bain Capital Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the foundational development of Akkio's AI platform and bring the initial product to market.
- Series A
- Amount Raised: $15M
- Date: August 2023
- Lead Investors: Bain Capital Ventures, Pandome
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the commercialization of Akkio’s AI platform, enabling business analysts to leverage AI technologies more effectively.
Total Amount Raised: $18M. Current Valuation: Not publicly disclosed.
Key Investors
- Bain Capital Ventures
- Details: Bain Capital Ventures is a venture capital firm that invests in early to growth-stage companies. It is part of Bain Capital, a global private investment firm with approximately $130 billion in assets under management.
- Investment Focus Areas: Technology, Healthcare, Financial Services
- Notable Investments: LinkedIn, DocuSign, SurveyMonkey
- Pandome
- Details: Pandome is a private investment firm that focuses on high-growth technology companies. The firm aims to support innovative startups that have the potential to make a significant impact in their respective industries.
- Investment Focus Areas: Technology, Artificial Intelligence, Data Analytics
- Notable Investments: Not publicly disclosed
What's Next for Akkio?
With $15 million in Series A funding, Akkio is poised to capitalize on the growing demand for no-code AI solutions. The platform's affordability and ease of use make it an attractive option for small and medium businesses, opening up a vast market. As the company scales, it aims to enhance its AI capabilities, making data insights more accessible and actionable for business analysts.
Future fundraising opportunities seem promising, with the potential for Series B and beyond. The successful Series A round and the expanding market for no-code AI platforms suggest continued investor interest. However, Akkio will need to navigate challenges such as competition from other AI platforms and maintaining affordability while scaling.
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