Investment Accelerates Akkio’s Capabilities to Deliver a Powerful, Easy-to-Use AI Assistant to Anyone Working with Data

Akkio, the AI company delivering generative analytics and machine learning to businesses, announced that it has closed a $15M Series A with participation by Bain Capital Ventures (BCV) and Pandome, Inc. The funding accelerates the commercialization of Akkio’s powerful, easy-to-use, and affordable AI platform. Akkio has hundreds of customers that chat with their data, generate live dashboards, and use machine learning to predict future outcomes across their operations, such as lead scoring, forecasting, content optimization, and more.

“This investment allows us to scale and advance our platform so business analysts can leverage AI technologies to work faster, unlock new insights, and make a bigger impact for their organization.”

Generative AI assistants are rapidly changing how work gets done. Copywriters now rely on ChatGPT, graphic designers lean on Dall-e, and software engineers depend on CoPilot to speed their delivery. Now, data analysts also have a go-to generative AI solution with consumer-level usability to accelerate their work.

Ease of use is at the core of Akkio’s product strategy and design. The platform empowers customers to use GPT-4 to generate insights, visualizations, and dashboards from their favorite spreadsheet tools or live business data sources and data warehouses such as Google Big Query, Hubspot, Salesforce, and Snowflake. Analysts build predictive models for any business priority and deploy these models for real-time decision-making in minutes—all without writing a single line of code. In addition, Akkio is the most affordable solution for generative analytics and machine learning with plans starting at $49, making it possible for small and medium businesses to become more competitive and efficient.

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“Akkio’s customers rely on data and want to leverage the latest in generative AI and ML capabilities, but lack the tools, technical expertise, or data science experience to do it,” said Abe Parangi, Co-Founder & CEO, Akkio Inc. “This investment allows us to scale and advance our platform so business analysts can leverage AI technologies to work faster, unlock new insights, and make a bigger impact for their organization.”

“A new wave of AI tools is enabling the long tail of business users to increase their impact due to consumer-level ease-of-use and design,” said Ajay Agarwal, Partner at Bain Capital Ventures. “Akkio’s generative AI assistant is meeting the needs of analysts and consultants looking to harness the power of AI to become more impactful, making our second investment in the mission a no-brainer.”

Pace of Innovation at Akkio
In 2023, Akkio has released a number of updates to the platform, including:

• Chat Data Prep – A feature that uses generative AI to automate the process of data cleaning and preparation through chat. Customers combine columns, summarize records, translate languages, convert formats, and perform complex calculations without needing to write formulas or code.
• Chat Explore – A chatbot with generative AI to securely explore data, identify patterns, find actionable insights, and report on business outcomes 10x faster than traditional methods. With the power of GPT-4, customers easily and quickly ask questions, get detailed analyses, and create live, custom charts and reports.
• Forecasting – An ML model for easily creating forecasts to predict things like inventory availability, sales, and marketing performance. Customers use it to understand patterns, analyze influential factors, and effortlessly make forecasts with live data.

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