Tag Archives: artificial intelligence (AI)

Cove Raises an additional $16 Million to ExpandAI-Native Insurance Platform and Offer Strategic Exit Options to Agency Partners

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San Francisco, CA – August, 2025 – COVU, the AI-native operating system for insurance, today announced it has raised $16 million in new capital, including equity and growth financing. This brings the company’s total funding to around $50 million to date, fueling its mission to transform how insurance is delivered, serviced, and experienced through agencies and partners.
The funding will accelerate platform development, expand operational infrastructure, and offer independent agency partners more options: whether they want to scale their operations or step away through a structured, supported transition.

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“We’re not here to sell software,” said Ali Safavi, CEO of COVU. “We’re building the infrastructure that powers the future of insurance. Our goal is to help agencies operate with more intelligence, more efficiency, and more care, while preserving the advisor relationship that customers trust.”
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A Modern Operating System for Independent Insurance

COVU supports insurance agencies with a full-service platform that combines AI-native technology, licensed support staff, and centralized customer operations. This allows agencies to streamline servicing, boost profitability, and modernize their customer experience without building infrastructure on their own.
The platform includes:

  • AI-powered customer support and automation.
  • End-to-end servicing delivered by licensed professionals
  • Direct carrier access and appetite matching
  • Compliance, staffing, and operational oversight
  • Growth and M&A enablement for partners ready to expand or exit

COVU’s role is not to replace agencies, but to power them. The company operates behind the scenes, delivering outcomes instead of tools, and protecting the advisor-customer relationship at every step.

Acquisition as a Continuation of Partnership

COVU has completed seven agency acquisitions to date. Each one originated as a servicing partnership. When a partner chooses to exit, COVU offers a seamless, non-disruptive path that ensures continuity for clients, staff, and carrier relationships.

“We believe deeply in the agency model,” Safavi added. “We help our partners grow and evolve, but we also support them when they’re ready for a transition. That flexibility is critical to modernizing this industry with care and respect.”

Accelerating the Future of Insurance Operations

With this capital, COVU will continue to expand its AI-native platform and servicing infrastructure, onboard new carrier partners, and support both organic and M&A-driven growth for agencies across the country.
As the industry faces growing complexity and capacity constraints, COVU provides agencies and carriers with a clear path forward. A modern insurance experience, delivered with technology, trust, and operational excellence.

About COVU

COVU is the AI-native operating system for insurance. Built for independent agencies, the platform provides licensed servicing staff, centralized operations, embedded AI workflows, and access to top carriers. Whether growing, operating, or exiting, agencies trust COVU to simplify insurance, protect their customer relationships, and power their future.
Media Contact:

Sumukh Lohani
press@covu.com
COVU, Inc.

548 Market St, PMB 24487, San Francisco, California 94104

covu.com/press

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Maisa: Why We Invested

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Forgepoint

 

I’m excited to share that Forgepoint Capital International is investing in Maisa’s $25M Seed funding round led by Creandum, with participation from existing investors NfX and Village Global. We are thrilled to partner with the team at Maisa, innovators in trustworthy agentic AI transforming business process automation (BPA) at enterprise scale. 

Untapped process automations and the unfulfilled potential of agentic AI 

BPA and knowledge work automation are ripe for disruption. Existing BPA is cumbersome and costly, requiring substantial human intervention to manually define processes and encode automations.  

Recent advancements in agentic AI have driven a surge of interest in AI-enabled BPA. However, there is far more hype and ‘AI washing’ than substance in the market. Buyers are more likely to see products like AI assistants, RPA tools, and chatbots branded as agentic AI than substantial agentic capabilities.  

Enterprise AI adoption also remains sluggish. Trust in AI is a core issue, with persistent concerns around AI hallucinations and output explainability. Many businesses struggle to equip their workforce with the necessary expertise and skills to support AI implementations.  

These intersecting challenges have resulted in a dearth of AI-driven automation. Many businesses eschew BPA in favor of human-centered business process outsourcing (BPO), while those that pursue AI automation find limited success: 88% of AI pilot projects fail to progress beyond a proof-of concept.  

Maisa: Flexible and trustworthy AI agents unlocking BPA at scale 

Maisa enables AI automation for complex business tasks with ‘digital workers,’ AI agents that eliminate BPA cost barriers, address AI explainability and trust challenges, and alleviate AI expertise requirements.  

Maisa’s digital workers are hallucination-resistant, auditable, and enterprise-ready. Knowledge workers without IT, coding, or AI expertise can develop and deploy digital workers thanks to Maisa’s Human Augmented LLM Processing (HALP) approach, a novel framework in which AI agents learn through interactions with humans. Employees simply use natural language commands to train digital workers for specific automation use cases. This dramatically reduces training time, increases trust, and reduces costs to unlock BPA at scale. 

Maisa’s innovative architecture, the Knowledge Processing Unit (KPU), acts as a reasoning engine built for cognitive work. The KPU enhances Large Language Models (LLMs) to manage complex processes and orchestrate computational calculations, memory, data flows, and external tools- a critical capability in complex enterprise environments. 

Tangible trust from day one 

At Forgepoint, we believe AI will open the door to previously impractical or impossible process automations, particularly in large enterprises. Agentic AI is particularly interesting to us given its potential to redefine enterprise BPA.  

Successfully deploying AI agents is an exercise in trust- in AI implementations, reasoning, and outcomes. As investors, we look for AI companies that prioritize trust while developing differentiated technologies, validated approaches, and strong teams with the vision to scale globally. That’s precisely what Maisa brings to the table.  

Maisa has unique and valuable technology with trust at the core of its products and operations, led by a driven and proven team of AI experts- a rare combination of advantages. Maisa’s KPU not only enables agentic AI-driven automations; it delivers a highly traceable and auditable record of agent logic, execution, and workflows to reduce hallucinations, ensure verifiable outcomes, and build customer trust.  

This winning approach can be traced to Maisa’s exceptional co-founders, CEO David Villalon and Chief Scientific Officer Manu Romero. We first met David in 2023 prior to Maisa’s founding, while he was the Chief AI officer at AI infrastructure firm Clibrain AI. When David and Manu- the former Chief Scientific Officer at Clibrain AI- launched Maisa in early 2024, we immediately saw the potential in their complementary track records, with David’s product leadership acumen and Manu’s software engineering expertise. 

Since then, Maisa has made exceptional progress in a remarkably short amount of time. Following a $5M pre-seed funding round, the Maisa team has quickly scaled to meet emerging enterprise customer needs around AI governance and trust.  

Maisa’s momentum hasn’t gone unnoticed: the company was recently featured in Gartner’s AI Hype Cycle and Future of Work Hype cycle reports. Maisa’s customers- large global businesses across financial services, banking, energy, and automotives- are finding immense value in Maisa’s adaptable AI-enabled automations. Enterprises plan to use Maisa’s digital workers to unlock new automations including supply chain monitoring, invoice processing, fraud detection, and regulatory monitoring.  

Automating knowledge work and closing the AI adoption gap 

As we look ahead, we are confident that Maisa can disrupt enterprise BPA and play a significant role in the $7B+ Agentic Process Automation (APA) market, expected to grow to $41B+ by 2030, with its novel approach to agentic AI reliability, accountability, and accessibility. The company has the potential to bridge the enterprise AI adoption gap, unlock a massive number of untapped automations, and lay the foundation for responsible AI governance, robust data management, and transparent decision-making across the enterprise. 

We look forward to working alongside David, Manu, and the Maisa team as they innovate AI agents to redefine complex process automations. 

 

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Why we invested in Treefera

Endeit

Treefera founders

An interview with Sara Resvik, Partner Nordics at Endeit Capital 

We recently invested in Treefera, as part of its $30 million Series B round led by Notion Capital. Treefera is the leading AI-enabled data fabric for supply chain resilience. The London-based company helps organisations monitor and manage environmental risks deep within their supply chains, starting with the so-called “first mile,” where raw materials are sourced. The funding will support Treefera’s global expansion and continued product development. 

As part of our climate tech focus, we see Treefera as a category-defining platform built for transparency, compliance and long-term sustainability. We spoke with Sara Resvik, Partner at Endeit Capital, about why this investment matters now, and what makes Treefera stand out.

Climate tech is an important segment for Endeit. Where does Treefera fit into this? 

Sara: “The climate transition creates enormous opportunities. We see this in broad areas, such as energy, but we’re also focused on targeted solutions. Treefera is one of those. They offer a precise, data-driven platform that addresses a critical piece of the sustainability puzzle.”

Treefera helps companies understand risks in their nature-based supply chains. They collect data from satellites and on-the-ground sources, then apply AI to generate actionable insights. Sara adds: “The platform provides a scalable and holistic solution – a data fabric of the world. It enables customers to track land use, ownership, and environmental impact in real time.”  


Sara Resvik – Partner Endeit Capital

Why is the first mile such a valuable space to invest in right now? 

Sara: “There are two main reasons. First, large enterprises must transition to more environmentally sustainable ways of working, which requires a deep understanding of their supply chains. Second, the effects of extreme weather are becoming impossible to ignore: land is being damaged, and yields are suffering. Treefera helps companies stay ahead of these challenges.” 

The first mile is also where the most risk lies, and where the least structured data has historically been available. Treefera enables companies to assess supply risk at ecological, geopolitical and environmental levels, and to do so at scale.

What stood out when you first met the Treefera team? 

“The founders immediately stood out. Jonathan Horn (CEO) has decades of experience in risk analysis and data from major financial institutions. Caroline Grey (CRO) has helped scale a company from startup to IPO. That’s a unique founder combination: scientific depth and commercial execution,” explains Sara. 

Furthermore, Treefera is only two years old, but has already achieved strong growth and secured serious funding. This reflects the quality of the team and the strength of their vision. 

What makes Treefera’s data platform so relevant today? 

Sara: “It’s the combination of high-resolution satellite data with historic, ground-based insights. In some regions, people have collected this kind of data for over a hundred years. That adds incredible depth. But what’s most important is making this data useful.” 

Treefera’s AI-enabled software translates raw data into clear, business-ready insights. Their clients don’t need to be experts in satellite imaging or ecology. They just get answers to the questions that matter: what is growing where, who owns the land, or is it being used responsibly?  

How does regulation influence the investment case? 

Regulations, such as the EU Deforestation Regulation, which takes effect in December 2025, will require companies to demonstrate that their products are not linked to deforestation. Failure to do so may result in fines or loss of market access. 

Sara: “Treefera is ahead of the curve here. They’ve built a platform that can help companies prepare for these rules and stay compliant. That’s a major competitive advantage.” 

What excites you about Treefera’s next chapter? 

Sara: “I’ll be joining the board of directors, which is a great opportunity to support their next stage of growth. The foundations are in place. Now it’s about scaling across regions and sectors, and we’ll be closely involved in that process. Also, the company is ready to grow its customer base across food, consumer goods and agriculture as well as within financial services and insurance. The timing is right, and the momentum is building.” 

What impact do you hope Treefera will have? 

“They have the potential to become the standard for first-mile data. That would be transformative, not just for compliance, but for the entire sustainability landscape. The first mile is where the most risk lies, and where the least data is available. That’s what Treefera is changing. We believe their platform will be essential in building future-proof supply chains,” elaborates Sara.  

Treefera joins Endeit’s growing Climate Tech portfolio, where data, compliance and impact go hand in hand. As the regulatory landscape sharpens, platforms like Treefera will become not just useful, but essential. 

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Thoma Bravo to Acquire Verint to Join Forces with Calabrio to Create an AI-Driven Customer Experience Powerhouse

Thomabravo

MINNEAPOLIS & SAN FRANCISCO—Thoma Bravo, a leading software investment firm, announced today that it has entered into a definitive agreement to purchase Verint Systems, Inc. (Nasdaq: VRNT) (“Verint”) in an all-cash transaction reflecting an enterprise value of $2 billion for the company. The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close before the end of Verint’s current fiscal year, in early 2026. More details on the transaction can be found via Verint’s Investor Relations page and in its regulatory filings.

Following the close of the transaction, Calabrio and Verint will be combined into one company and will be a leading provider of Customer Experience (CX) Automation Solutions to the $50B+ market in which they serve. Together, they will offer an expansive portfolio to advance the critical priorities of CX organizations across the size and complexity spectrum. The combination will create more opportunities for companies to quickly achieve business outcomes in their interactions with customers. Calabrio is fully committed to maintaining and investing in the products that support its installed base and customers’ workflows.

“Together Calabrio and Verint will bring a powerful set of products to accelerate a shared vision: delivering an AI-powered, open CX-platform to customers who are focused on driving strong business outcomes in their operations. As a combined company we are well positioned to lead the industry forward,” said Dave Rhodes, Calabrio CEO.

Mike Hoffmann, a Partner at Thoma Bravo added: “We have been active in the CX space for many years and are excited to bring these two companies together to lead more innovation and growth in the category. Calabrio and Verint both have powerful product portfolios and go-to-market strategies that cover the needs of a wide spectrum of the market. Together, the combined company will have the industry’s broadest CX platform, enabling brands of all sizes to drive transformative, AI-driven outcomes.”

About Thoma Bravo

Thoma Bravo is one of the largest software-focused investors in the world, with approximately $184 billion in assets under management as of March 31, 2025. Through its private equity, growth equity and credit strategies, the firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging Thoma Bravo’s deep sector knowledge and strategic and operational expertise, the firm collaborates with its portfolio companies to implement operating best practices and drive growth initiatives. Over the past 20+ years, the firm has acquired or invested in approximately 535 companies representing approximately $275 billion in enterprise value (including control and non-control investments). The firm has offices in Chicago, Dallas, London, Miami, New York and San Francisco. For more information, visit Thoma Bravo’s website at thomabravo.com.

About Calabrio

Calabrio is a trusted ally to leading brands. The digital foundation of a customer-centric contact center, the Calabrio ONE workforce performance suite helps enrich and understand human interactions, delivering business outcomes by optimizing every customer interaction. We maximize agent performance, exceed customer expectations, and boost workforce efficiency using connected data, AI-fueled analytics, automated workforce management, and personalized coaching. Only Calabrio ONE unites workforce optimization (WFO), agent engagement, and business intelligence solutions into a cloud-native, fully integrated suite that adapts to your business. Calabrio, Calabrio ONE, and the Calabrio logo are registered trademarks or trademarks of Calabrio, Inc. All other trademarks mentioned in this document are the property of their respective owners. Calabrio operates in Canada under Calabrio Canada, Ltd., based in British Columbia.

Read the release on the Business Wire site here.

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FieldAI Announces Over $400M in Funds Raised to Advance Embodied AI at Scale

Intel Capital

Backing from Bezos Expeditions, Canaan Partners, Khosla Ventures, Prysm, Temasek, and others to accelerate commercial expansion of first risk-aware foundation models for robotics

Irvine, CA – August 20, 2025 – FieldAI, a leader in physical AI and robotic autonomy, today announced that it has raised $405 million in two consecutive rounds. Investors include Bezos Expeditions, BHP Ventures, Canaan Partners, Emerson Collective, Intel Capital, Khosla Ventures, NVentures (NVIDIA’s venture capital arm), Prysm, Temasek, and others. Previous investors include Gates Frontier and Samsung. The latest round was oversubscribed, following rapid customer adoption and multiple expansion contracts for FieldAI’s general-purpose robotics intelligence, with successful testing and deployments across hundreds of complex real-world industrial environments.

FieldAI is at the forefront of the general-purpose robotics revolution, developing a single software brain that is powering a variety of robots in many diverse environments. FieldAI robots are deployed in daily operations at numerous customer sites worldwide. Deployments span a variety of robot types in high-complexity environments from Japan, to Europe, to the U.S., with some of the world’s largest companies in industries including construction, energy, manufacturing, urban delivery and inspection.

FieldAI’s systems operate in real-time autonomously, with decisions made directly by the models at the edge, seamlessly integrating into real customer workflows. They have logged unprecedented real-world data and operational hours, demonstrated a transformative pace of model evolution, and delivered value and cost-effective autonomy at scale. As industries turn to automation to address labor shortages, safety risks, and efficiency goals, demand for FieldAI’s platform continues to accelerate.

Capital to Accelerate Global Expansion

The newly raised capital will accelerate FieldAI’s global growth, support continued product development across locomotion and manipulation, and enable strategic hiring to scale its team as it plans to double headcount by the end of the year.

“Enabling autonomy solutions at scale is an extremely difficult problem, but the deep expertise of the FieldAI team and their unique approach to embodied intelligence reflects a pragmatic path forward,” said Vinod Khosla, founder of Khosla Ventures. “FieldAI is at the forefront of the general-purpose robotics revolution, and its ability to rapidly deploy will unlock long-term economic and societal value.”

A New Era of Robot Intelligence

At the core of FieldAI’s platform are Field Foundation Models (FFMs): a new class of “physics-first” foundation models built specifically for embodied intelligence. Unlike conventional vision or language models retrofitted for robotics, FFMs are designed from the ground up to grapple with uncertainty, risk, and the physical constraints of the real world. This enables safe and reliable robot behaviors when managing scenarios that they have not been trained on, navigating dynamic, unstructured environments without prior maps, GPS, or predefined paths.

“Our team has spent years in the field, driving major breakthroughs in ‘field robotics’ and safety-critical robotic AI in complex environments,” said Ali Agha, Founder and CEO of FieldAI. “With a deep understanding of the resilience and robustness required to deploy robotic AI in complex real-world conditions, we have taken a fundamentally different approach. Rather than attempting to shoehorn large language and vision models into robotics—only to address their hallucinations and limitations as an afterthought—we have designed intrinsically risk-aware architectures from the ground up. With Field Foundation Models, we are enabling robotic operations to scale seamlessly across diverse environments with varying risk profiles, moving beyond the constraints of traditional solutions.”

The FieldAI architecture marks a breakthrough in the robotics space. FFMs’ robust nature enables the models to safely and dynamically adapt to new and unexpected conditions without requiring reprogramming, enabling robots to execute complex tasks reliably in unstructured environments. FFMs have already been proven across a wide range of embodiments, including quadrupeds, humanoids, wheeled robots, and passenger-scale vehicles. Their hardware-agnostic design allows different form factors and manipulators to operate using the same core intelligence, accelerating deployment and scalability.

“We are excited and privileged to be partnering with the FieldAI team on this next phase of their journey. Their new class of foundation models offers the reliability and adaptability required for autonomous robotics deployment at scale across numerous sectors,” said Jay Park, Co-Founder and Managing Partner of Prysm Capital. “FieldAI’s revolutionary models not only greatly broaden possible use cases but also enable risk-aware deployment, a critical element for scaling AI that has the potential to reshape how robots interact with the physical world.”

Led by world-renowned veterans in robotic AI from DeepMind, Google Brain, Tesla Autopilot, NASA JPL, SpaceX, Zoox, Cruise, Amazon, DARPA, TRI, and others, FieldAI combines deep research expertise with unmatched real-world deployment experience. From Mars rovers to Earth’s mines and factories, the FieldAI team has driven landmark breakthroughs in field robotics – winning DARPA challenge circuits, scaling foundation models across autonomous fleets, and delivering autonomy at scale. That ethos of solving for the field is what inspired the company’s name.

About FieldAI

Headquartered in Irvine, CA, FieldAI is a pioneer in developing embodied AI software that is redefining autonomous robot operations in real-world environments. The company’s Field Foundation Models provide an embodiment-agnostic autonomy brain, empowering robots to navigate dynamic and unpredictable conditions without maps, GPS, or predefined trajectories. Proven across diverse platforms – from quadrupeds to humanoids – FieldAI is driving a global expansion that enables industries such as construction, energy, mining, logistics, and federal applications to scale automation like never before. With a robust pipeline of deployments and strategic partnerships accelerating its growth, FieldAI is spearheading a new era in industrial robotics, setting the stage for transformative, large-scale automation worldwide.

For more information, visit www.fieldai.com or contact PR@fieldai.com.

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Backing Garage: Transforming How America’s Critical Equipment Is Bought and Sold

Initialized

Why Initialized led Garage’s seed round and participated in its Series A for $18M total funding

America’s local governments and public safety departments are the backbone of our communities, yet the way they buy and sell the most essential equipment needed for doing their jobs hasn’t changed in decades. Whether it’s a used fire engine or surplus emergency response gear, these transactions often happen offline, through outdated regional auctions or informal Facebook groups. It’s an inefficient, fragmented system that slows operations, limits budgets, and wastes valuable time and money.

BUILDING THE MODERN MARKETPLACE

Garage is a modern, AI-powered marketplace designed to streamline how specialized equipment is bought and sold. When we first met co-founders Martin Hunt and Alaz Sengul, we immediately saw how deeply personal this mission is to them, and how well-equipped they are to fix this broken system. Martin’s firsthand experience as a volunteer firefighter — logging over 1,500 hours of training by age 18 — gave him a firsthand view of just how archaic these workflows are. Their vision goes beyond making equipment transactions easier, it provides a means for America’s first responders and civil servants to access the tools they need to do their jobs well.

The first thing that surprised us in diligence was how little innovation has touched this space, despite how critical and expensive these assets are. The U.S. has more than 27,000 fire departments, and most operate under tight budget constraints. A new or used fire truck can cost anywhere from $500K to $1M, and buying or selling one can take weeks of coordination, back-and-forth messages, and fragmented logistics. The absence of a central platform isn’t just inefficient, it’s a missed opportunity to recapture budget and reinvest in communities.

Garage is filling that gap. The platform handles the full lifecycle of the sale: AI-based appraisals, integrated payments, freight quotes, and national reach for the equipment listed. They’re already being used by hundreds of fire departments across all 50 states, impacting the well-being of millions of Americans. Compared to previous approaches, they also don’t take inventory risk on the equipment being traded.

THE PERFECT COMBINATION: FRONTLINE EXPERIENCE AND TECHNICAL EXPERTISE

Martin and Alaz aren’t new to building together. They met at Columbia, where they developed apps together. After graduation, Alaz went on to engineering roles at Twitter, and Mem, while Martin worked in private equity at Goldman Sachs, bringing operational rigor to complement his front-line fire service experience.

Martin’s authenticity, paired with Alaz’s product instincts and technical execution, is a combination we’re genuinely excited to back for the next ten years. This is a deep, mission-oriented company. It’s not uncommon for Martin to share stories with us during office hours of how he’s used his firefighting training to help a stranger drowning.

WHY OVERLOOKED INDUSTRIES MAKE THE BEST INVESTMENTS

At Initialized, we believe some of the best opportunities lie in underserved, overlooked industries, where the tools haven’t caught up to the needs of the people using them. Garage is a perfect example of that thesis in action.

As the market shifts toward more capital efficiency and durable business models, Garage stands out: high-value transactions, strong early traction, and a clear roadmap to scale. We’re proud to have led Garage’s seed round and to be part of this $13.5M Series A alongside Infinity Ventures, Y Combinator, Benchstrength, Wayfinder Ventures, and FJ Labs, and we’re excited to support Garage as they continue building the infrastructure America’s communities rely on.

Garage is hiring! Visit shopgarage.com/careers if you’re interested in joining this stellar team.

Visit www.shopgarage.com to learn more about Garage.

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boost.ai named a leader in 2025 Gartner® Magic Quadrant™ for conversational AI platforms

Nordic Capital

Boost.ai, a leading developer of AI Agents for regulated enterprises, today announced it has been recognized as a Leader by Gartner in the 2025 Magic Quadrant for Conversational AI Platforms. Boost.ai has been recognized in this Magic Quadrant by Gartner for its “Ability to Execute” and “Completeness of Vision”.

The report states that “Gartner defines conversational AI platforms (CAIPs) as SaaS products that primarily enable the development of applications simulating human conversation across multiple channels and media”. As AI adoption accelerates, the market is seeing a clear shift in customer expectations toward higher-quality self-service and interactions. While enterprises increasingly turn to generative AI to meet these expectations, platforms, like boost.ai, that combine generative capabilities with proven conversational AI, offer the scalable, reliable solutions needed to deploy with confidence.

“We’ve always believed that trust is the foundation of enterprise AI. Being recognized as a Leader by Gartner reinforces our position as a global provider of AI-driven conversations that our customers can trust,” said Jerry Haywood, CEO of boost.ai. “It affirms our commitment to delivering AI that is not only powerful and scalable but also responsible and secure. It’s this unwavering focus that continues to earn the confidence of some of the world’s most respected brands.”

Over the past year, boost.ai announced multiple customer wins and partnerships in the US and UK, including Jack Henry, SwitchThink and Sage. The company also introduced Test Studio, a first of its kind built-in studio to test and validate AI Agent performance before they are deployed by enterprises. With more than 600 live AI Agents across 450+ organizations worldwide, boost.ai is the go-to provider of trustworthy AI Agents for leading banking, insurance, and government institutions. The platform delivers industry-leading resolution rates above 90% and is certified to both ISO 27001 and ISO 27701 standards, reinforcing enterprise-grade data protection and privacy management across every customer interaction.

Boost.ai continues its upward global trajectory within the Enterprise Conversational AI market, while driving innovation and helping enterprises push the boundaries of AI responsibly. To learn more about how boost.ai is empowering customers like DNB and Jack Henry using conversational AI, please visit boost.ai.

Gartner disclaimer:
GARTNER is a registered trademark and service mark of Gartner Inc. and/or its affiliates in the U.S. and internationally, and MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates and are used herein with the permission. All rights reserved.

Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

Gartner, “Magic Quadrant for Conversational AI Platforms”, by Gabriele Rigon, Justin Tung, Bern Elliot, Arup Roy, Adrian Lee, Uma Challa, 12 August 2025.

About Boost.ai
Boost.ai is the trusted leader in AI-powered customer experience solutions for regulated industries. Built for security, speed, and scale, the platform enables fast deployment, high-resolution rates, and full hybrid control through seamless orchestration of traditional NLU and LLMs. With over 650 successful deployments, 600 live virtual agents, and more than 150 million automated conversations, boost.ai helps enterprises around the world resolve with confidence, automate at scale, and trust every conversation.

Proven performance and enterprise-grade reliability make boost.ai the partner of choice for leading brands across the world, including Nordea, Credit Union of Colorado, Sage, DNB, Trading 212, and more.

Download a complimentary copy of the report here.

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Welcome to the CapitalT family – Balthazar!

CapitalT

We’re thrilled to announce our role as lead investor in Balthazar’s latest funding round, bringing their total raised to €1.8M. Joining forces with Antler and other Dutch innovation funders, we’re backing the brilliant team that’s building an AI-powered operating system for deep tech R&D labs.

Balthazar transforms how cutting-edge hardware – from semiconductors and photonics to carbon capture – gets developed. Their real-time, intelligent workspace lets teams run, monitor, and manage complex experiments from the browser, integrating every step of the workflow from design to analysis.

By connecting lab instruments, organising prototype data, and embedding automation, Balthazar brings structure, speed, and reproducibility to an industry still reliant on fragmented systems.

As our Founding Partner Eva de Mol puts it:

“Balthazar solves a foundational challenge for deep tech teams: turning research chaos into coordinated progress. This is the kind of infrastructure that accelerates technological breakthroughs.”

With fresh funding, Balthazar will scale product development, enhance AI capabilities, and grow its team – and of course, they’ve already received one of our signature unicorns to celebrate the partnership. 🦄

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Apollo Funds Reach Agreement with American Securities to Acquire Trace3, a Leading Technology Solutions Provider Driving Adoption of Next-Generation Technology and AI

Apollo logo

Strategic Investment to Accelerate Trace3’s Growth and Expand Solutions Across Security, Hybrid Cloud and AI

IRVINE, Calif. and NEW YORK, Aug. 11, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that funds managed by its affiliates (the “Apollo Funds”) have agreed to acquire Trace3, a leading provider of enterprise and commercial technology solutions, from American Securities. Financial terms were not disclosed. American Securities will retain a significant minority equity interest in the company.

Trace3 is a leading digital transformation and IT solutions provider to commercial and enterprise clients, including many of the Fortune 500. Since its founding in 2002, Trace3 has established a national, market-leading position in the technology solutions provider space with significant expertise in artificial intelligence, cloud, security, data and analytics, managed services, data center infrastructure and emerging technology. The company is well positioned to benefit from strong demand for next-generation IT infrastructure and services as digital transformation and AI adoption continue to accelerate.

“The partnership with Apollo is a powerful testament to the quality of our brand, our people and our consistent track record of growth,” said Rich Fennessy, Chief Executive Officer of Trace3. “They embrace our unwavering commitment to innovation, technical excellence and deep client relationships. Together, we’re poised to accelerate the Company’s trajectory while preserving the special culture that continues to attract the best talent in technology.”

“Trace3 is a recognized leader in enterprise IT, with a strong culture of innovation and a track record of delivering critical and cutting-edge products and services to its broad client base,” said Robert Kalsow-Ramos, Partner at Apollo. “We see a meaningful opportunity to support Trace3’s efforts to meet AI-related demand across their client base and expand high-value service offerings while pursuing strategic M&A to help accelerate the company’s growth trajectory. We’re excited to partner with the Trace3 team in this next chapter of growth.”

“Trace3’s management team has done an exceptional job scaling the business, expanding its capabilities and establishing the company as a trusted partner in delivering cutting-edge technology solutions. We’re proud to have supported their growth, which reflects American Securities’ strategy of partnering with strong teams in sectors where we can add lasting value. We look forward to continuing our partnership alongside Apollo and the Trace3 team as the company enters its next phase,” said Kevin Penn, Managing Director of American Securities.

Apollo has deep experience successfully investing in the IT services and distribution space, including prior investments by Apollo-managed funds in Presidio and TD SYNNEX.

The transaction is subject to customary closing conditions and regulatory approvals.

Citi served as lead financial advisor, Wells Fargo and Royal Bank of Canada also served as financial advisors, and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to the Apollo Funds. Guggenheim Securities, LLC served as financial advisor and Kirkland & Ellis LLP served as legal counsel to Trace3 and American Securities.

About Trace3
Trace3 is a premier provider of technology consultation services and advanced IT solutions. Founded in 2002, Trace3 empowers organizations to embrace digital transformation through elite expertise and insightful innovation. With deep roots in the data center, Trace3 offers a broad mix of end-to-end technology services and solutions. These range from artificial intelligence and data insights to cloud computing and security consulting. Trace3 also maintains a Venture Capital (VC) CXO briefing program with a sharp focus on emerging technologies and provides clients with extensive research focused on the latest IT trends. For more information, visit www.trace3.com.

About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees and the communities we impact to expand opportunity and achieve positive outcomes. As of June 30, 2025, Apollo had approximately $840 billion of assets under management. To learn more, please visit www.apollo.com.

About American Securities
Based in New York with an office in Shanghai, American Securities is a leading U.S. private equity firm that invests in market-leading North American companies with annual revenues generally ranging from $200 million to $2 billion. American Securities and its affiliates have approximately $23 billion in assets under management. For more information, visit www.american-securities.com.

Contacts

Apollo
Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
Communications@apollo.com

Trace3
Jill Simpson
Manager, Public Relations
(269) 930-0912
Jill.simpson@trace3.com

American Securities
Joshua Rosen / Nick Kyriacou
Prosek Partners
pro-americansecurities@prosek.com

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Reltio Unveils AgentFlow, A Set of Agents for Data Governance and Business Operations

.406 Ventures

Reltio AgentFlow, built on Reltio Data Cloud, delivers autonomous agents purpose-built for critical jobs using unified, trusted enterprise data.

 

Redwood Shores, CA — August 5, 2025 — Reltio®, the leader in real-time data intelligence, today announced the launch of Reltio AgentFlow™, an innovative agentic AI platform delivering purpose-built, context-aware, autonomous agents for enterprises.

Enterprises face a growing challenge: operationalizing data governance and business workflows at scale in an environment filled with siloed systems and inconsistent data. Teams waste time on manual processes, governance backlogs pile up, and AI initiatives stall or introduce new risks due to poor data quality and lack of oversight. DIY agents and generic copilots often fall short — too shallow to deliver business outcomes, too complex to maintain, and too disconnected from the trusted data needed to take confident, autonomous action.

Built on the proven foundation of Reltio Data Cloud™, Reltio AgentFlow, delivers both the scale enterprises need to support global operations and the data precision required to automate complex, high-stakes workflows. Reltio AgentFlow Agents inherit enterprise-grade security, real-time governance policies, and rich, contextual data from Reltio’s platform, ensuring actions are accurate, auditable, and aligned with business intent. As the agentic data fabric for the enterprise, Reltio Data Cloud powers real-time data intelligence for AI transformation with trusted data across all domains.

“Enterprises urgently need agentic AI applications that go beyond experimentation. They need agents that reduce manual work and speed decision-making,” said Manish Sood, CEO and Founder of Reltio. “Generic solutions can’t deliver real outcomes without the context of enterprise knowledge. With Reltio AgentFlow, enterprises get purpose-built agents powered by Reltio Agentflow and informed by the Reltio Data Cloud, the system of context for AI, enabling automation at scale with trusted, real-time data. The result is rapid, measurable ROI for AI initiatives,  from accelerating time-to-launch and lowering operational costs to reducing regulatory risk exposure.”

Reltio AgentFlow Agents are built to make agentic AI usable and valuable across the enterprise. They offer secure, personalized, role-based experiences that adapt to the needs of different users, from data stewards to business analysts. With proactive recommendations, support for a range of large language models (LLMs), and conversational interfaces, AgentFlow brings intelligent automation to more teams—wherever and however they work.

Reltio AgentFlow Agents are designed based on Reltio’s extensive expertise in data unification and governance with the Intelligent Data Graph (knowledge context), directly mapping to pressing enterprise data tasks such as resolving matches, enriching attribution details, identifying and fixing data quality anomalies, and validating data for compliance, among others. Unlike generic AI copilots and agents, Reltio AgentFlow Agents drive immediate business outcomes with an intuitive conversational user interface, orchestration of sub-agents, long- and short-term memory, seamless tool and model integrations, all out-of-the-box.

Reltio customers, including Radisson Hotel Group and Eaton Corporation, are taking advantage of early access to AgentFlow, developing agents that will work on complex data-related tasks, such as match resolution, complex hierarchy management, data governance, and enhancing data quality.

Leading global partners Cognizant, ZS, and TCS are already supporting clients in adopting Reltio AgentFlow, leveraging it to create business operations agents that empower such clients in their businesses:

“Enterprises are navigating an increasingly complex digital landscape and require both specialized capabilities and trusted, unified data. Agentic AI platforms can be a powerful compass. Reltio’s AgentFlow platform is adept at understanding the business context and delivering secure, governed automation across data-intensive workflows. It not only automates tasks, but also adapts, unlocking new levels of efficiency, personalization, and innovation across industries,” said Satish Byravan, Global Head, Data and Analytics Practice, TCS.

“Our customers need actionable AI solutions, not just suggestions. Reltio AgentFlow provides context-driven autonomous agents that integrate seamlessly into existing business workflows, accelerating time-to-value,” said Mike Powers, principal and global master data management (MDM) practice lead at ZS, a global management consulting and technology firm.

“Reltio AgentFlow is a compelling offering for enterprises that need to scale data governance and business workflows securely,” said Diptesh Singh, at Cognizant. “The prebuilt agents enable clients to rapidly achieve compliance, productivity, and innovation outcomes while also minimizing the complexities associated with generalized AI solutions.”

Additionally, Reltio’s AgentFlow MCP (Model Context Protocol) Server allows enterprises to securely integrate Reltio AgentFlow Agents, their own custom-built agents, or third-party agents with the trusted, governed data from Reltio’s Intelligent Data Graph, ensuring consistent, context-aware actions at scale for business and data team workflows.

Reltio AgentFlow MCP Server is generally available to customers now, and Reltio AgentFlow Agents are available to select customers through Reltio’s Early Access program. General availability of Reltio AgentFlow Agents is coming soon in Fall 2025.

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At Reltio, we believe data should fuel your success in the enterprise AI era. Reltio Data Cloud is the agentic data fabric for the enterprise, powering real-time data intelligence and AI transformation. Reltio’s cloud-native SaaS platform delivers unified, trusted, and context-rich data across domains in real-time. With Reltio, organizations gain 360-degree views of customers, products, suppliers, and more—mobilized in milliseconds to any application, user, or AI agent. Trusted by the world’s largest enterprises across life sciences, financial services, healthcare, technology, and more, Reltio helps organizations fuel frictionless operations, drive innovation, and reduce risk.

“Reltio” is a registered trademark, and Reltio Data Cloud, Reltio AgentFlow and Reltio Customer 360 are trademarks of Reltio, Inc. All Rights Reserved.

Contacts

Melissa Muskett
Allison Worldwide for Reltio
Reltio@allisonworldwide.com

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