Primer Technologies Proves The Worth Of Enterprise AI With $69M Raise

Primer Technologies, an artificial intelligence and predictive analytics startup, announced on Wednesday it has raised $69 million in Series D funding.

The round was led by Addition, with additional participation from the US Innovative Technology Fund. The company’s fresh fundraising brings its total funding to $237 million, per Crunchbase data.

Primer Technologies has long been a big player in the AI and machine-learning space. The company was founded in 2015 and quickly nabbed government clients such as the United States Special Operations Command, the U.S. Air Force and the U.S. Army. Military officials use Primer’s technology to plan missions and predict logistics.

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The new round of funding will go toward Primer’s new generative AI models. The company already has a large language model functionality built into its system — the same sort of technology that powers open-source generative AI tools like ChatGPT and OpenAI’s platform.

Primer Technologies recently launched Primer Delta, a platform that can analyze millions of documents. The company is creating an internal search function that mimics Google Search, in which analysts can simply ask questions pertaining to the details of the company through the organization’s intranet.

Enterprise AI enamors the market

Enterprise-focused AI platforms like Primer Technologies are going to prove to be a far better money-making venture than consumer-facing companies that build on top of ChatGPT’s API. Already, the arms race has begun.

Last month, The Allen Institute for Artificial Intelligence announced it will invest $30 million in enterprise AI applications.

Also in May, Microsoft invested a whopping $13 billion in AI giant OpenAI to build out its suite of enterprise-grade AI tools in a search function similar to Primer Delta.

ServiceNow, a cloud infrastructure company, announced in May it will put aside $1 billion in venture funding for enterprise-focused AI startups. The company acquired Element AI and the AI platform Hitch Works.

Illustration: Dom Guzman