Quantum Rise secures $15 Million seed funding for AI-powered ‘consulting 2.0’ startup

Quantum Rise gets $15 million to change the way businesses use AI-driven automation by combining human knowledge with advanced AI tools to speed up growth and make operations run more smoothly.

Quantum Rise, a Chicago-based startup, raised $15 million in a seed round from Erie Street Growth Partners. Quantum Rise uses AI to automate tasks for businesses like dunnhumby, which is a retail analytics platform for the grocery industry.

It works a bit like UIPath, a company famous for bringing robotic process automation to enterprises. But it looks at AI problems from a broader perspective and offers more “hand-holding.”

Quantum Rise employs a “Consulting 2.0” model to integrate AI into businesses, automating workflows, roadmaps, and custom AI solutions, and enhancing overall business speed. Magnetic acquired Alex Kelleher’s adtech platform, Cognitive Match, in 2014. This is his second business venture.

To give you an idea of the size of the market opportunity for AI-driven automation, the consulting giant BCG says that helping companies integrate AI will bring in 20% of its revenue in 2024 and 40% by 2026.

In the meantime, IBM has secured sales commitments worth more than $1 billion for generative AI. This means there is room for fast-moving startups to enter the market, which is what Kelleher is betting on with Quantum Rise.  He thinks that the best chance right now is to combine human and machine intelligence.

Consulting Industry Faces Disruption

“The whole consulting business is about to fall apart because it depends on people’s time and doesn’t use automation,” Kelleher said. “We are going to send heavy engineering into space.” A huge number of CEOs of these $300 million businesses don’t know where to begin.

They lack the necessary funds to cover Deloitte’s expenses. That’s where we come in. They want someone to take over the business and automate it.

Terry Graunke, chairman and CEO of Erie Street Growth Partners, said in a statement, “The Quantum Rise team knows how to use data, automation, and AI to make people smarter and drive growth like no one else.”