We certainly seem to be in the midst of a massive shift toward “no-code” technology, with investors pumping many millions of dollars into companies like Unqork, AirSlate and Bubble for their unique capabilities.
This week, yet another player in the burgeoning space has raised funding. This time, it’s Cambridge-based Akkio, which announced Monday it closed on a $3 million seed round led by Bain Capital.
Founded in 2019 by former employees at speaker giant Sonos and local manufacturing company Markforged, Akkio is designed to help businesses automate their decision making without the need for developers or data scientists. Likening it to the ease of uploading an Excel spreadsheet to the cloud, the company claims training can be as quick as a minute — reportedly much faster than other services like Google, AWS and Microsoft.
Akkio says its platform has a wide range of potential uses beyond machine learning offerings, including process automation, predictive analytics, anomaly detection, forecasting and personalization. The company has helped political fundraisers prioritize call lists, SEO vendors improve keyword selections, and medical device manufacturers predict clinical trial abandonment.
Its quick training time and automated offerings are more than just a convenience, though. Akkio’s CEO and co-founder Abe Parangi seems to think this technology will be a game changer for businesses of all kinds going forward.
“Just as Windows and then Mac OS replaced typing obscure DOS commands into a black terminal screen with clickable icons, Akkio aims to open the world of artificial intelligence up to a wider market,” Parangi said in a statement. “Feed it data and Akkio’s platform spits out predictions in seconds, giving anyone the power normally reserved for Fortune 50 companies or research institutions staffed by data scientists.”
Looking ahead, Akkio told BostInno that it is already kicking off a Series A round. The company is also hiring, with a handful of open tech positions available at its headquarters here in Cambridge.
