Kognitos, a company specializing in generative AI for business automation, has secured $20 million in a Series A funding round led by Khosla Ventures, with participation from existing investors Clear Ventures, Engineering Capital, and Wipro Ventures. The new funding brings Kognitos’ total venture capital raised to $30 million, including a previously closed seed round.
Founded in 2020, the company aims to revolutionize business applications by enabling them to be written in English, allowing machines to understand human language seamlessly.
Kognitos focuses on leveraging generative AI to address the traditional challenges of automation tools, such as a steep learning curve, high costs, and extended time-to-value. The company’s deterministic English interpreter approach aims to eliminate the risk of hallucination and biases while providing the full power of generative AI to business users. This strategy enables organizations to accelerate automation without requiring extensive traditional automation skill sets.
The platform uses natural language processing automation (NLPA) to empower business users to automate processes in plain human language, effectively making English the “code.” Kognitos provides a scalable, bot-less, and management-free SaaS platform capable of running business processes targeting ERP, CRM, and common business applications at scale. The platform incorporates human-in-the-loop capabilities with patented conversational exception handling, reducing the burden on IT for handling business exceptions.
The new funds will be utilized to enhance the platform’s ability to understand and execute complex business processes, expand partnerships, and integrate with other business applications to improve interoperability. Kognitos aims to establish itself as a leader in generative AI for business automation and increase platform adoption.
Vinod Khosla, founder of Khosla Ventures, emphasized the importance of automation in human language for widespread business usage and expressed support for Kognitos’ vision. The funds will also enable Kognitos to introduce new features, including the Exception Center, a next-generation exception handling interface for business users, and multi-modal automation functions such as voice transcription, image comparison, and PDF form filling.
Jim McCullen, CIO at Century Supply Chain Solutions, praised Kognitos for helping automate complex use cases that existing solutions couldn’t handle, resulting in significant productivity gains. The company looks forward to expanding its partnership with Kognitos as it aims to become a leader in AI within the global logistics space.
