Quantum Ascensiona Chicago-based startup that does AI-based automation for companies like dunnhumby (a retail analytics platform for the grocery industry), raised a $15 million seed round from Erie Street Growth Partners. Its approach is somewhat similar to that of UIPath, a company famous for bringing robotic process automation to businesses, but with a broader lens on the AI hurdles businesses face and with a more “manual” feel.
Quantum Rise deploys AI in companies under the so-called “Consulting 2.0” model to automate workflows, roadmaps, custom AI solutions and generally accelerate business. The startup is the second act of Alex Kelleherthe former founder of the adtech platform Cognitive Match, who was acquired by Magnetic in 2014.
For some context on the potential market opportunity for AI-based automation, consulting giant BCG wait generate a fifth of its revenue in 2024 by helping companies integrate AI, and 40% by 2026. Meanwhile, IBM has protected More than $1 billion in sales commitments related to generative AI. This suggests that a space is opening for fast-moving startups to enter the arena, and that’s what Kelleher is betting on with Quantum Rise.
He thinks the fusion of human and machine intelligence is where the opportunity is now.
“The entire consulting industry is about to collapse because it relies on people’s time and a lack of automation,” Kelleher told TechCrunch. “We will bring heavy engineering to space. The number of CEOs of these $300 million companies who don’t know where to start is enormous. They can’t afford the Deloittes of this world. That’s where we come in. They want someone to come in and just automate the company and make it happen.”
In a statement, Terry Graunke, president and CEO of Erie Street Growth Partners, added: “The Quantum Rise team uniquely understands how to apply data, automation and AI to augment human intelligence and drive growth.”
