Canadian AI Startup Raises $1.5M to Supercharge Innovation at Big Enterprises

TORONTO, Sept. 16, 2024 /CNW/ - Can big corporations innovate like fast-moving startups? Aucctus (www.aucctus.com), a Toronto-based AI startup, believes it's possible. Armed with a $1.5 million seed investment led by Four Cornerstones Capital, Aucctus has built an AI-powered platform that turns every employee into a potential innovator– equipped to bring the next big idea to their company.

Large companies spend billions annually on innovation, relying on external consultants and internal teams. Traditionally, generating ideas, validating their potential, and launching them takes months or even years. Aucctus reduces the time and money it takes to do this using Generative AI– leveraging years' of experience and proprietary methodologies to deploy autonomous agents.

"We were frustrated that no one was harnessing generative AI to revolutionize corporate innovation," said Tyler Anderson, CEO of Aucctus. "Our platform empowers every employee to become an innovator."

In minutes, Aucctus identifies new ideas, vets them against market trends and corporate strategy, proposes financial models, identifies target customers, and validates assumptions. These workflows help teams launch initiatives faster in a stage-gated process, bridging the gap between "new ideas" and "profitable innovations".

Founded in early 2024, Aucctus has spent eight months building with eight of the world's largest companies. Now, it's rolling out to thousands of employees across Canada, the U.S, Europe, and the Middle East, disrupting the billion-dollar innovation SaaS industry.

"It's humbling to see our product resonate with leaders at some of the world's biggest brands," added Vincent Atallah, President of Aucctus. "With this investment, we can accelerate our product development and become a must-have tool for companies committed to staying relevant."

Aucctus will use the seed funding to expand its team of AI and machine learning engineers, further developing its proprietary technologies and enhancing the platform's capabilities.

"My entire business career has been guided by the motto 'Change or Die,'" says Rick Ekstein, President and CEO of Four Cornerstones Capital. "The power of the Aucctus platform won't just help businesses keep up—it will push them ahead of the curve and ensure they stay there."

For information on how Aucctus can accelerate your innovation efforts, email us [email protected] or visit www.aucctus.com.

About Aucctus

Aucctus is a Toronto-based AI-powered innovation management platform. In minutes, corporate innovators can identify new ideas, vet them against market trends and corporate strategy, propose financial models, identify target customers, and test assumptions. We leverage the latest in Generative AI to save companies time and increase their capability to grow.

About Four Cornerstones Capital

Four Cornerstones Capital is a Canadian investment firm that invests in traditional and alternative asset classes. The firm identifies best-in-class entrepreneurs and partners, valuing those who spearhead the opportunity as much as the venture itself. Drawing on more than 40 years of experience and the diverse backgrounds of our associates, Four Cornerstones Capital is uniquely positioned to invest in a variety of opportunities.

SOURCE Aucctus Inc.

Media Contact: Vincent Atallah, [email protected]