Quantum Rise Secures $15M Seed Funding for AI-Powered ‘Consulting 2.0’ Venture

Thu Jul 11, 2024 - 4:06am GMT+0000
Automation Production System Operation Precess Concept

Quantum Rise, a Chicago-based startup specializing in AI-driven automation, has announced the successful closing of a $15 million seed round from Erie Street Growth Partners. The startup’s innovative approach is drawing comparisons to industry leader UiPath, renowned for bringing robotic process automation to enterprises. However, Quantum Rise sets itself apart by addressing broader AI challenges and offering more hands-on support to its clients.

Quantum Rise’s Vision and Approach
Quantum Rise aims to deploy AI into companies through a “Consulting 2.0” model. This model focuses on automating workflows, providing strategic roadmaps, and delivering customized AI solutions. By leveraging AI, Quantum Rise seeks to accelerate business processes and enhance efficiency, positioning itself as a key player in the evolving landscape of AI-driven automation.

The startup is the brainchild of Alex Kelleher, the former founder of adtech platform Cognitive Match, which was acquired by Magnetic in 2014. Kelleher’s vision for Quantum Rise is rooted in the belief that merging human and machine intelligence represents a significant opportunity in today’s market.

Market Opportunity for AI-Driven Automation
The market for AI-driven automation is rapidly expanding, presenting significant opportunities for innovative startups like Quantum Rise. Consulting giant Boston Consulting Group (BCG) projects that AI integration will account for a fifth of its revenues by 2024 and 40% by 2026. Similarly, IBM has secured over $1 billion in sales commitments related to generative AI, indicating strong demand for AI solutions.

These projections underscore the potential for swift-moving startups to carve out a niche in the AI-driven automation space. Quantum Rise aims to capitalize on this opportunity by offering tailored AI solutions that cater to the unique needs of mid-sized companies.

AI Integration in Businesses
Quantum Rise’s approach to AI integration involves several key strategies:

Automating Workflows: Implementing AI to streamline and automate repetitive tasks, reducing the time and effort required for manual processes.
Providing Roadmaps: Developing strategic plans that guide companies through the AI integration process, ensuring a smooth and efficient transition.
Tailored AI Solutions: Customizing AI tools and applications to meet the specific needs of each business, enhancing overall productivity and effectiveness.
CEO’s Perspective on the Consulting Industry
Alex Kelleher, CEO of Quantum Rise, believes that the consulting industry is on the brink of a significant transformation. He argues that the traditional consulting model, which relies heavily on human labor and lacks automation, is becoming obsolete. Kelleher envisions Quantum Rise as a disruptor in the industry, bringing advanced engineering and AI solutions to companies that cannot afford the services of large consulting firms.

“The entire consulting industry is about to come crashing to the ground because it’s built on people’s time and lack of automation,” Kelleher told TechCrunch. “We will bring heavy engineering to the 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 somebody to come in and just automate the company and make it happen.”

Investor’s Confidence in Quantum Rise
Terry Graunke, chairman and CEO of Erie Street Growth Partners, expressed strong confidence in Quantum Rise’s potential. In a statement, Graunke highlighted the team’s unique ability to apply data, automation, and AI to enhance human intelligence and drive business growth.

“The Quantum Rise team uniquely understands how to apply data, automation and AI to augment human intelligence and drive growth,” Graunke said. “We are excited to support their vision and see the transformative impact they will have on the industry.”

The Future of AI-Driven Automation
Quantum Rise’s successful seed round marks a significant milestone in its journey to revolutionize AI-driven automation. The startup’s focus on merging human and machine intelligence aligns with broader industry trends, positioning it for continued growth and success.

As the demand for AI solutions continues to rise, Quantum Rise is well-positioned to provide the expertise and innovation needed to help businesses navigate the complexities of AI integration. With strong investor backing and a clear vision for the future, Quantum Rise is poised to make a lasting impact on the AI-driven automation landscape.

Bullet Points: Key Takeaways
Quantum Rise raises $15 million in seed funding from Erie Street Growth Partners.
The startup specializes in AI-driven automation, offering a “Consulting 2.0” model.
Founded by Alex Kelleher, former founder of Cognitive Match.
Quantum Rise aims to automate workflows, provide strategic roadmaps, and deliver tailored AI solutions.
Consulting giant BCG projects significant growth in AI-driven revenues, highlighting market potential.
Investor Terry Graunke expresses strong confidence in Quantum Rise’s vision and capabilities.
With its innovative approach and strong leadership, Quantum Rise is set to lead the charge in AI-driven automation, helping businesses unlock new levels of efficiency and productivity.