Quantum Rise Secures $15M Seed Funding for Innovative AI-Powered 'Consulting 2.0' Venture

Quantum Rise, a Chicago-based startup specializing in AI-driven automation, has successfully raised $15 million in seed funding from Erie Street Growth Partners. The company provides innovative automation solutions to clients like dunnhumby, a key player in retail analytics for the grocery sector. Quantum Rise's methodology resembles that of UiPath, renowned for its robotic process automation in enterprises, but takes a more comprehensive view of the AI challenges businesses face, offering more personalized support.

Utilizing a unique "Consulting 2.0" model, Quantum Rise integrates AI within companies to streamline workflows, develop customized roadmaps, and deliver tailored AI solutions that drive operational efficiency. The startup marks the second venture for Alex Kelleher, the former founder of the adtech platform Cognitive Match, which was acquired by Magnetic in 2014.

Considering the substantial market potential for AI-driven automation, consulting giant BCG projects that 20% of its revenue will come from AI integration services in 2024, increasing to 40% by 2026. Additionally, IBM has achieved over $1 billion in sales commitments tied to generative AI. This indicates a growing opportunity for agile startups like Quantum Rise, which Kelleher aims to capitalize on.

Kelleher emphasizes the importance of merging human and machine intelligence as the key opportunity in today’s landscape. “The entire consulting industry is on the verge of transformation. It’s tethered to human labor and lacks automation,” Kelleher stated. “Our goal is to introduce significant engineering into this sector. Many CEOs of mid-sized companies, particularly those around $300 million in revenue, are unsure where to begin. Traditional firms like Deloitte are often out of reach for them. This is our niche; companies are seeking someone to come in, automate their processes, and deliver results.”

Terry Graunke, chairman and CEO of Erie Street Growth Partners, added, “The Quantum Rise team possesses a unique understanding of how to leverage data, automation, and AI to enhance human intelligence and drive business growth.”