The startup has raised $30 million, quadrupling its valuation to $200 million, signaling investors’ interest in enterprise AI tools that aren’t generative in nature.Some of Coactive AI's 30-person team, which is led by cofounders Cody Coleman and William Gaviria Rojas .
On Tuesday, the San Jose-based startup announced a new $30 million Series B fundraise led by Laurene Powell Jobs’ Emerson Collective and Cherryrock Capital, a new venture fund from former TaskRabbit CEO Stacy Brown-Philpot. Other investors included Andreessen Horowitz, which led the first two funding rounds, Bessemer Venture Partners and Greycroft. The round values Coactive at $200 million, up from the $50 million mark that it received in March 2023.
The startup would not give exact revenue figures, but said it counts dozens of customers who it estimated would boost sales more than eightfold this year. Brown-Philpot toldthat her firm rushed to offer a term sheet after learning that other venture capitalists had preemptively asked to invest after seeing business take off in recent months. “They were making progress, and frankly faster than most companies who were leveraging AI in some way to build their business,” she said.