TLDR:
- Benjamin Harvey secures $13.8 million in Series A funding for his startup AI Squared through a LinkedIn pitch.
- The funding round was led by venture firm Ansa Capital with participation from NEA and Roger Ferguson.
April 20, 2024 – Benjamin Harvey, the CEO of AI Squared, has successfully raised $13.8 million in Series A funding for his startup through a LinkedIn pitch. Harvey’s unique approach to securing funding involved reaching out directly to Roger Ferguson, former CEO of TIAA, via LinkedIn, which led to a successful partnership. The funding round was closed in March and was led by venture firm Ansa Capital with participation from Baltimore-based New Enterprise Associates and Ferguson himself. Despite not being profitable yet, AI Squared anticipates exceeding $10 million in revenue by 2024.
AI Squared, founded in 2019, has raised a total of $20 million from investors and serves clients such as the U.S. Air Force, U.S. Navy, NSA, Rapid7, and a Coca-Cola contractor in Florida. The company aims to help organizations extract full value from their AI models and machine learning investments. Greg Papadopoulos of NEA highlights the democratizing potential of AI, and sees AI Squared as a solution to effectively deploy AI technology.
Harvey’s journey from childhood to founding AI Squared showcases his passion and determination in integrating AI insights into business applications. With the new capital and influential backers, including Ferguson, AI Squared is set for expansion in the AI-as-a-service market. Harvey emphasizes the importance of seizing opportunities, even through unconventional channels like LinkedIn, in today’s digital networking-driven business landscape.
