Cohere’s $100M Revenue Surge Backed by Ottogrid Integration
Canadian AI startup Cohere has acquired Ottogrid, a Vancouver based platform specializing in market research automation, as part of its strategy to expand its data focused AI solutions in sectors such as finance, healthcare, and government.
Founded in 2023 under the name Cognosys, Ottogrid quickly gained recognition for its advanced tools that automate complex market research processes.
Cohere Doubles Down on Market Insights with Ottogrid Buyout
In 2024, the company rebranded as Ottogrid and secured $2 million in venture funding from notable investors, including GV (Google Ventures), Amjad Masad, and Guillermo Rauch.
Cohere plans to integrate Ottogrid’s technology into its existing AI solutions, with a particular focus on enhancing the workflow automation and data analytics capabilities of its ChatGPT style platform, North.
As part of the integration, Ottogrid will gradually phase out its standalone product, supporting clients in transitioning to Cohere’s unified platform.
The acquisition follows Cohere’s recent announcement that it has reached an annualized revenue milestone of $100 million as of May 2025, doubling its revenue since the start of the year.
The company attributes this growth to a strategic shift towards specialized AI solutions tailored for regulated industries.
“Incorporating Ottogrid’s technology will empower us to deliver more comprehensive AI powered insights to our enterprise clients, reinforcing our position as a leader in data automation and market intelligence,” said Cohere CEO Aidan Gomez.
This acquisition highlights the rising trend of mergers and acquisitions in the AI sector as both emerging startups and established firms intensify efforts to expand their technological capabilities amidst growing market competition.
