<div>
 
 Funding
 
 <ul>
 <li>
 
 <a href="https://sp-edge.com/companies/2795949">
 Floworks
 </a>
 raised USD 1.5 million in a seed funding round co-led by Y Combinator and Sense AI to onboard channel partners, expand its customer base, and invest further in product development. (August 31, 2023; 
 <a href="https://siliconangle.com/2023/08/31/floworks-raises-1-5m-seed-funding-generative-ai-work-assistant/">
 SiliconANGLE)
 </a>
 
 </li>
 <li>
 
 <a href="https://sp-edge.com/companies/2645085">
 DeLorean AI
 </a>
 secured USD 7.55 million in a Series A funding round led by Sopris Venture Capital to expand its team by 50% within the next two months, hiring in areas like sales, marketing, and data science. (September 11, 2023; 
 <a href="https://refreshmiami.com/delorean-raises-7-55m-to-enable-enterprise-companies-to-unlock-ai-innovation/">
 Refresh Miami
 </a>
 )&nbsp;
 
 </li>
 </ul>
 
 M&amp;A
 
 <ul>
 <li>
 
 <a href="https://sp-edge.com/companies/2055">
 Salesforce
 </a>
 acquired 
 <a href="https://sp-edge.com/companies/1156614">
 Airkit,
 </a>
 an integrated sales platform, which will be integrated into Salesforce's customer service platform, Service Cloud, to enhance its customer service capabilities. (September 22, 2023; 
 <a href="https://techcrunch.com/2023/09/21/salesforce-airkit/">
 TechCrunch
 </a>
 )&nbsp;
 
 </li>
 </ul>
 
 Product update
 
 <ul>
 <li>
 
 <a href="https://sp-edge.com/companies/200606">
 DealHub
 </a>
 unveiled its Digital DealRoom for HubSpot CRM to improve sales engagement, provide deal insight and buyer intent, streamline operations, increase sales visibility, and enable more informed buying decisions within the HubSpot ecosystem. (September 07, 2023; 
 <a href="https://www.businesswire.com/news/home/20230907748313/en/DealHub.io-Introduces-DealRoom-for-HubSpot-CRM-to-Get-Buyers-and-Sellers-on-the-Same-Page%22">
 Press Release
 </a>
 )&nbsp;
 
 </li>
 <li>
 
 <a href="https://sp-edge.com/companies/1132542">
 Revenue Grid
 </a>
 launched its Sales Intelligence Engine, an AI-powered suite for B2B sales. It aims to deliver real-time, customized notifications (Generative Signals) to sales professionals, identify success patterns, offer data-driven advice, and guide sales reps on the next best steps for specific opportunities, improving the sales process. (September 12, 2023; 
 <a href="https://www.destinationcrm.com/Articles/CRM-News/CRM-Across-the-Wire/Revenue-Grid-Launches-the-Sales-Intelligence-Engine-160466.aspx">
 DestinationCRM
 </a>
 )&nbsp;
 
 </li>
 <li>
 
 <a href="https://sp-edge.com/companies/200606">
 DealHub&rsquo;s
 </a>
 CPQ is now available on the Microsoft Azure Marketplace, enabling &quot;Quote-to-Revenue&quot; processes. It streamlines quoting, closing, contract management, and subscription automation in one platform. (September 19, 2023; 
 <a href="https://www.businesswire.com/news/home/20230919931044/en/DealHub.io-Now-Available-in-the-Microsoft-Azure-Marketplace">
 Press Release
 </a>
 )&nbsp;
 
 </li>
 <li>
 
 <a href="https://sp-edge.com/companies/174729">
 Front
 </a>
 has evolved into a comprehensive customer support platform by integrating an AI-driven knowledge base, allowing users to find information and receive AI-driven answers within the platform, streamlining customer support. (September 21, 2023; 
 <a href="https://techcrunch.com/2023/09/20/front-goes-beyond-the-unified-inbox-with-a-zendesk-style-knowledge-base/">
 Techcrunch
 </a>
 )
 
 </li>
 </ul>
 
 
</div>

Artificial intelligence is helping sales teams manage relationships and optimize the customer lifecycle.

Sales Engagement Platforms

Floworks raised $1.5 million in seed funding to expand its customer base and develop its products. DeLorean AI secured $7.55 million in Series A funding to grow its team and hire in sales, marketing, and data science. Salesforce acquired Airkit to enhance its customer service capabilities. DealHub launched its Digital DealRoom for HubSpot CRM to improve sales engagement and streamline operations. Revenue Grid launched its AI-powered Sales Intelligence Engine to provide real-time notifications and data-driven advice for sales professionals. DealHub's CPQ is now available on the Microsoft Azure Marketplace. Front integrated an AI-driven knowledge base into its customer support platform.

Monthly News Summary (September 2023)

Exploring the limitless possibilities of AI

Generative AI Applications

ANALYST_QUICK_TAKE

PROMINENT_CATEGORY

<div>
 
 The AI legal solutions developer, Eve, has released a new version of its AI-powered legal assistant which becomes a part of the day-to-day activities of legal firms. It serves as a secondary cerebral support for legal teams, aiding in various tasks throughout the duration of a case.
 Eve's new version is equipped with features that support team interaction and provides contextual comprehension, with the ability to scrutinize massive amounts of data. It also manages the organization of cases and provides dynamic drafting for the generation of complex documents. Furthermore, this version has compatibility with widely-used tools in law firms including Customer Relationship Management systems and Document Management Systems.
 
</div> Analyst QuickTake: 
 This news comes a few months after Eve raised <a href="https: 
//sp-edge.com/updates/23101"> USD 14 million </a> in a seed funding round that was targeted at expanding operations and business reach.&nbsp;

Eve launches enhanced version of AI legal assistant

INCUMBENTS_PRESENT

<div>

 Adobe has introduced the Acrobat AI Assistant for enterprise customers. This service, accessible by Reader and Acrobat users on desktop, web, and mobile platforms, aims to improve document productivity by extracting meaningful insights from documents.
 The AI Assistant is equipped with features like interacting with documents through an intuitive chat feature, summarizing long documents for easy comprehension, creating smart citations for data verification, offering clickable links for smooth navigation, and converting information into appropriate content for emails, blogs, and reports.&nbsp;

</div> Analyst QuickTake: 
 Adobe claims that the Acrobat AI Assistant can significantly reduce time spent searching for information and can help boost productivity by enabling employees to quickly generate insightful content from their documents. This tool can be leveraged by various teams, including marketing and sales, legal and compliance, human resources, and more, enabling them to save time on lower-value tasks and focus on their core responsibilities.

Adobe announces launch of Acrobat AI Assistant for enterprise customers

<div>

 ServiceNow and Microsoft have collaborated to enhance their artificial intelligence capabilities. This collaboration involves integrating ServiceNow's Now Assist with Microsoft's Copilot with the aim of providing better service for business enterprises.
 
 The primary goal of this partnership is to streamline productivity tasks by integrating Now Assist and Microsoft Copilot. This integration enables efficient handling of employee requests and improves support by ensuring smooth transitions between ServiceNow and Microsoft Teams. 
 
 This collaboration will also give employees the ability to create Microsoft documents using ServiceNow prompts. The solution aims to transform workplace productivity and is expected to be available by fall 2024.
 
</div>

ServiceNow and Microsoft partner to improve AI capabilities and enhance productivity

Making banking work, without the paperwork

Neobanks

<div>
 
 Monzo, a UK-based neobank, has raised an additional USD 190 million in venture funding, bringing its total to USD 1.7 billion. The funding round was led by Hedosophia, and included participants such as CapitalG (Alphabet's growth fund) and GIC (Singapore's sovereign wealth fund). The company plans to utilize these funds to widen its reach across the US and Europe, as well as for product development. In terms of future products, Monzo aims to launch a pension product in the UK within the next six to nine months and a mortgage product in the long term.
 
 The bank became profitable last year and now serves over 9 million retail customers in the UK, adding 2 million of these in the past year. It also provides services to more than 400,000 business customers.
 
</div> Analyst QuickTake: 
 The company’s previous funding round was in <a href="https: 
//sp-edge.com/updates/27295"> March 2024 </a> , during which it raised USD 430 million at a USD 5 billion valuation. The funds were earmarked to develop new products and expand into the US market.

Monzo raises USD 190 million in venture funding for global expansion

New insurance models are disrupting a centuries-old industry with a focus on personalization and convenience.

Neo Insurance

<div>
 
 An Israeli-based digital life insurer, Sproutt, has filed for insolvency in the District Court in Tel Aviv.
 The company's insolvency filing follows its failure to pay its debts to an Israeli bank and various creditors.
 Before making the announcement, Sproutt had shifted its focus to a B2B model, offering a life insurance quotation platform for agents. In March 2023, the firm added The Reder Agency, an entity renowned for life insurance marketing, to its portfolio. Amid these changes, Sproutt had also carried out several redundancy waves.
 
</div>

Life insurance startup Sproutt declares insolvency

Empowering efficiency, visibility and collaboration throughout supply networks

Supply Chain Tech

<div>
Bitsight has introduced the Discovery and Attribution Engine, a new technology designed to provide enterprises with an updated overview of their Internet-based assets, relations with third and fourth parties, and overall risk levels. This engine achieves this by analyzing billions of security data points to offer valuable insights to customers.
This AI-powered engine includes several features, such as the creation of a dynamic map for an organization's Internet-connected assets. This feature is designed to streamline and speed up the process of viewing exposure across extended attack surfaces, evaluating risk, and prioritizing remediation efforts.
Bitsight asserts that this novel solution can reveal an external organizational risk overview and swiftly and accurately share recommendations. It also allows risk and security leaders to keep up with changes on an internet scale.

</div> Analyst QuickTake: 
 In February 2024, Bitsight <a href="https: 
//sp-edge.com/updates/26871"> launched </a> a solution for managing third-party risk, which aimed to protect the digital supply chain by merging vendor risk management and continuous monitoring. The platform is capable of conducting vendor health assessments, management of onboarding processes, oversight of vendor security hygiene, and more. The new Discovery and Attribution Engine adds more capabilities to its solutions suite.

Bitsight launches AI-powered Discovery and Attribution Engine for risk assessment

<div>
 Avetta has launched Supplier Analytics, a solution designed to help suppliers and prime contractors identify and address issues, meet compliance requirements, and enhance safety measures. It is available on the Avetta platform.
 The offering combines safety, ESG compliance, business, and cybersecurity risks in one platform. Its main features are efficient compliance assessments, effective usage of analytics, and clear collaboration among suppliers, clients, and subcontractors.
 Avetta asserts that the new solution can dramatically reduce business costs tied to compliance management. The company also says that the product has become their most adopted solution since its introduction, due to its effectiveness in simplifying compliance processes and fostering collaboration.
 
</div> Analyst QuickTake: 
 In January 2024, Avetta <a href="https: 
//sp-edge.com/updates/26014"> launched </a> "AskAva," an AI-powered risk assistant for contractor safety. The solution expands Avetta’s Connect platform, allowing firms to automate risk management for contractors on a larger scale.

Avetta introduces Supplier Analytics solution for enhanced compliance management

Artificial intelligence is identifying and testing new therapies faster than ever.

AI Drug Discovery

<div>
 Google DeepMind, in collaboration with Isomorphic Labs, has launched an updated version of its AlphaFold AI tool known as AlphaFold3. This technology is designed to help scientists understand the behaviors of microscopic mechanisms within human body cells. The original AlphaFold was launched in 2018 and then released for protein studies in 2023.
 AlphaFold's main purpose is to examine the processes of protein twisting and folding, as well as their communication with other human cells. The updated version, AlphaFold3, can also predict the behaviors of other microscopic biological features such as DNA and RNA.
 Isomorphic Labs, a subsidiary of Alphabet based in the UK, is dedicated to improving traditional drug discovery techniques through the use of AI. Employing Google DeepMind’s AI research, the company is also partnering with pharmaceutical firms like Eli Lilly and Novartis to bolster their AI-led drug discovery efforts.
 
</div>

Google DeepMind and Isomorphic Labs unveil updated AlphaFold technology

Leveraging personal data for custom-fit diagnosis and treatment

Precision Medicine

<div>
 RCE Technologies revealed their new advancements in wearable-enabled biomarker studies at the Annual Biomarker Symposium. They showcased their patented wearable device, the Infrasensor, which is designed for collecting biochemical data. 
 The Infrasensor employs infrared technology and offers a non-invasive method for monitoring cardiac conditions by delivering real-time analysis in conjunction with AI. It was put through a trial that involved 840 individuals from 10 US hospitals, where blood samples were collected for biochemical analysis as the device was used for three minutes.
 As a specialist in non-invasive infrared-based wearable monitoring devices, particularly for cardiovascular health, RCE Technologies offers services powered by their proprietary technology. The key products include the Infrasensor, which is a transdermal device for measuring cardiac conditions; infra-mind AI/ML platform that is capable of predicting heart attacks; and Infra-weave cloud service, a platform that hosts, processes, and analyzes both clinical and research data.
 </div>

RCE Technologies presents insights on biomarker study based on Infrasensor wearable device

Foundation Models

<div>
 
 Google's AI arm, DeepMind, has unveiled AlphaFold 3, an upgraded version of its AI model designed to predict life molecules like DNA, RNA and smaller molecules referred to as "ligands", in addition to protein structures. 
 The AI model employs a diffusion technique to produce intricate 3D representations of molecular structures. As it stands, its use is solely restricted to academic and non-commercial applications in fields like medicine, agriculture, materials science, and drug discovery.
 In addition to this, the research platform known as AlphaFold Server, along with the AI model itself, will be accessible to a selection of researchers at no cost.
 The accessibility of AlphaFold Server, boosted by the AlphaFold 3 model, claims to enhance prediction accuracy by 50% in comparison to earlier variations, even with limited computational power.
 
</div> Analyst QuickTake: 
 This news comes just a week after Google and DeepMind introduced <a href="https: 
//sp-edge.com/updates/29007"> Med-Gemini </a> , an AI model focusing on medicine to enhance the understanding and processing of medical data. It has also developed other medical models like MedLM that cater to healthcare needs. These developments could potentially assist medical researchers and clinicians by improving efficiency, enhancing communication, streamlining workflows, supporting research endeavors, and offering flexibility in addressing specific healthcare challenges.

All Updates