10 Enterprise AI Startups to Watch in 2024
There are almost too many AI startups to count as the field’s popularity explodes. But InformationWeek takes a look at some notable entries to watch this year.
![Close-up 3d rendering humanoid robot's hand holding virtual rocket launch on blue background Close-up 3d rendering humanoid robot's hand holding virtual rocket launch on blue background](https://eu-images.contentstack.com/v3/assets/blt69509c9116440be8/bltf1ae72f5bc843d78/65eb37b773b32e040a6927d7/cover_2PH679Y.jpg?width=700&auto=webp&quality=80&disable=upscale)
Techa Tungateja / Alamy Stock
Year Founded: 2021
Founders: Kevin Guo and Dmitriy Karpman
What They Do: San Francisco, Calif.-based Hive offers AI models and solutions for understanding, searching, and generating content. The company offers developers a portfolio of pre-trained models, turnkey software products. Hive offers a new Deepfake Detection API tool to allow digital platforms to identify and moderate images and video. Last year, the company introduced an AI text classifier to detect AI-generated text.
Year Founded: 2019
Founder & CEO: Vishal Sikka
What They Do: Palo Alto, Calif. startup Vianai provides a “human-centered AI” platform and products for a variety of industries, including financial services, manufacturing, retail, aerospace and defense, and more. The company’s hila platform allows businesses to use their own data to get answers in a graph, simple table, or simple text response. Hila also provides anti-hallucination protection for LLMs. “… our system uses a consortium of models to review an answer for errors and improve its correctness,” according to Vianai’s website.
Year Founded: 2016
Founders: Imam Hoque, Vishal Marria
What They Do: With concerns about bad actors using AI for ill intent, this company is using the technology to help thwart crime. UK-based Quantexa offers AI platforms and solutions for several industries, including banking, insurance, government, and telecommunications. Solutions include data management, customer intelligence, risk management, financial crime detection, anti-money laundering, security, and more. Quantexa’s Decision Intelligence Platform helps companies automate and augment decision-making. The company boasts a $1.8 billion valuation with 100% annual recurring revenue (ARR) growth since July 2021.
Year Founded: 2013
Founders: Amanda Kahlow, Pemal Shah, Viral Bajaria
What They Do: San Francisco, Calif.-based 6sense offers AI tools to help organizations create, manage, and convert pipelines to revenue. The company’s AI platform captures anonymous buying signals, targets the right accounts, and recommends channels and messages to boost revenue performance, the company says. Last year, the company announced its sixth consecutive year of growth. The company’s performance in 2023 showed revenue growth of 70% over the previous year.
Year Founded: 2015
Founders: Kendall Clark, Evren Sirin, Michael Grove
What They Do: Washington, D.C.-based Stardog specializes in data analytics software and the company’s Voicebox large language model (LLM) platform allows enterprise users with little AI experience to immediately access and interact with critical business data. With the company’s platform, workers can directly question any and every enterprise data source using ordinary language. NASA was one of the company’s first clients. CEO Kendall Clark told InformationWeek in an interview that AI enterprise solutions need to “be rooted in practical, real-world problems.”
Year Founded: 2015
Founders: Amit Bendov and Eilon Reshef
What They Do: Palo Alto, Calif.-based Gong.io is a Software as a Service (SaaS) company offering AI to analyze spoken conversations from audio sources and web platforms to aid sales teams. The company says by analyzing customers interactions, businesses can harness the information to improve efficiency, improve decision-making and drive revenue growth. The company’s use cases include deal execution, coaching, strategic initiatives, and market insights. Co-founder and Chief Product Officer Eilon Reshef said in a recent statement, “Our research shows targeted AI solutions are delivering significant value for revenue teams and helping them close deals more quickly, and more often.”
Year Founded: 2013
Founders: Florian Douetteau and Clement Stenac
What They Do: New York-based Dataiku offers multi-industry AI solutions for marketing, logistics, supply chain and finance. In December 2022, the company raised $200 million with a valuation of $3.7 billion. The company’s focus on AI governance “validates our commitment to a unified platform that simplifies the entire AI journey, making everything from advanced analytics to [GenAI] a seamless, trusted reality for businesses,” co-founder and CEO Florian Douetteau said in a statement.
Year Founded: 2012
Founders: Jeremy Achin, Tom de Godoy
What They Do: Boston, Mass.-based DataRobot delivers an enterprise AI platform to automate data science and build, deploy and manage machine learning models. In November, the company announced new governance and observability capabilities. “The demands around generative AI are broad, complex and evolving in real time,” Venky Veeraraghavan, DataRobot’s chief product officer, said in a release.
Year Founded: 2019
Founders: Chris “Tito” Sestito, James Ballard, Tanner Burns
What They Do: Austin, Texas-based HiddenLayer is at the forefront of adversarial AI defense efforts with a contract to guard the US Department of Defense (DoD) against AI cyberattacks. The company offers threat modeling, machine learning risk assessment training, red team assessment services, and AI and ML model scanning. HiddenLayer CEO and Co-Founder Chris Sestito says the company has developed strong defense tools against AI-enabled attackers. He says enterprises should approach the AI threat landscape with the same seriousness as the government. “My No. 1 message to CISOs would be that you have to apply the same level of scrutiny to artificial intelligence that you would to traditional code,” he says.
Year Founded: 2005
Founders: Daniel Dines, Marius Tirca
What They Do: UiPath is an AI and automation technology company founded in 2005 in Bucharest, Romania. The company’s roots are in enterprise automation and with the success of generative artificial intelligence (GenAI), UiPath is positioned to be a giant in the enterprise automation arena. The company’s automation platform promises to “seamlessly collaborate with people and systems to transform every facet of work, combining robotic process automation (RPA) with a full suite of solutions. The company boasts annual recurring revenue of $1.37 billion and more than 10,000 customers.
Year Founded: 2005
Founders: Daniel Dines, Marius Tirca
What They Do: UiPath is an AI and automation technology company founded in 2005 in Bucharest, Romania. The company’s roots are in enterprise automation and with the success of generative artificial intelligence (GenAI), UiPath is positioned to be a giant in the enterprise automation arena. The company’s automation platform promises to “seamlessly collaborate with people and systems to transform every facet of work, combining robotic process automation (RPA) with a full suite of solutions. The company boasts annual recurring revenue of $1.37 billion and more than 10,000 customers.
When OpenAI’s ChatGPT burst onto the scene in 2022, the public’s immediate fascination and widespread use pushed business demand for comprehensive generative artificial intelligence adoption. That demand, along with billions of dollars in investments, has opened the door for countless AI startups.
News of relatively new companies getting huge investment boosts have become daily updates as companies race to get in on the AI gold rush. It’s hard not to think of the dot com explosion of the 1990s. With daily AI headlines fighting for attention, it can be hard to separate noteworthy startups. For businesses, finding the right use cases will be key to unlocking AI’s enterprise potential.
According to Statista, AI’s market size will hit nearly $306 billion in 2024 and is projected to grow up to $739 billion by 2030. While the players may change and consolidate over time, the overall market growth is not expected to slow anytime soon. That leaves a huge opportunity for startups looking to cash in on the AI race.
In the following slides, InformationWeek dives into the increasingly competitive world of enterprise AI startups.
About the Author(s)
You May Also Like