Enterprise Weekly #447: OpenAI's Mic Drop, Scaling Sales Tactics, and More
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This week, OpenAI held its inaugural OpenAI DevDay where CEO Sam Altman shared significant announcements intended to strengthen OpenAI’s product suite:
GPT-4 Turbo
JSON Mode
New Modalities
GPTs/Assistants API
New Modalities in the API
Custom Models
Why does this matter? Enterprise adoption of generative AI products has remained relatively low compared to its hype in the industry given cost, accuracy, and risk / security concerns. That said, OpenAI’s new features aim to democratize access to state-of-the-art models for technical and non-technical users:
Increasing context length allowing users to prompt models with ~300 pages of text (8k tokens to 128k tokens)
Decreasing cost making it 3x cheaper than GPT 4
Offering consulting engagements to enterprises with privately hosted Custom Models with proprietary and custom data
Allowing users to build custom versions of ChatGPT and upload them to OpenAI’s GPT Store
However, the battle for AI dominance continues between closed- and open-source model providers. OpenAI’s recent upgrades are only increasing vendor lock-in by “platform-izing” their product portfolio in hopes of making OpenAI the only AI provider a user will need.
Finally, and perhaps most importantly, OpenAI’s developer conference showcased just how epic ground-breaking technology can be when paired with strong distribution. On one hand, application layer companies stand to benefit from these advancements given the improved retrieval and pricing models, lowering the barrier to entry for creating products. On the other hand, the transition from model provider to full blown AI platform could make OpenAI a natural acquirer of the LLMOps / AI infrastructure startups they compete with.
Read more about DevDay and what ML engineers think about the announcements in Danny’s recent More Intelligent Newsletter.
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📚 Read more news:
Bloomberg: JPMorgan Discusses GenAI Projects With Regulators
The Information: How SaaS Startups Can Compete in a Bundled World
Pitchbook: Infrastructure SaaS Report
WSJ: Amazon’s New Approach to Selling Enterprise Software? In-Person Demos
📚 Read more (th)reads:
Company: Stensul
Role: VP of Product
Technology: Email & Landing Page Creation Platform
Funding: $23M from U.S. Venture Partners, Javelin Venture Partners, and others
🌟 Company of the Week 🌟
Daytona raises $2M led by 500 Emerging Europe
Infrastructure / Dev Tools • Pre-Seed • New York, NY
Founders: Ivan Burazin (CEO), Goran Draganic (Chef Architect), Vedran Jukic (CTO)
Eilla AI raises $1.5M led by Eleven Ventures
Data / AI / Machine Learning • Seed • London, England
ProcessBolt raises $3M led by Orlando Health Ventures
Risk / Security • Venture • Minnesota, MN
Integration.app raises $3.5 million led by Crew Capital
Infrastructure / Dev Tools • Seed • Beaverton, OR
Protecto raises $4M led by Together Fund
Data / AI / Machine Learning • Seed • San Jose, CA
Greenlite raises $4.8M led by Greylock and YC
Data / AI / Machine Learning • Seed • San Francisco, CA
Tidal Cyber raises $5M led by Squandra Ventures
Risk / Security • Seed • Washington, D.C.
Polimorphic raises $5.6M led by M13
Future of Work • Seed • San Francisco, CA
Lunar raises $6M led by Uncork Capital
Infrastructure / Dev Tools • Seed • Tel Aviv, Israel
Flip AI raises $6.5M led by Factory
Data / AI / Machine Learning • Seed • San Francisco, CA
Ozone raises $7.1M led by NEA, General Catalyst and Others
Collaboration / Productivity • Seed • San Francisco, CA
Sift raises $7.5M led by Riot Ventures and Fika Ventures
Infrastructure / Dev Tools • Seed • Los Angeles, CA
Risk Ledger raises $7.8M led by Mercia Ventures
Risk / Security • Series A • London, England
DeepInfra raises $8M led by A.Capital and Felicis
Data / AI / Machine Learning • Seed • Palo Alto, CA
Govly raises $9.5 million led by Insight Partners
Future of Work • Series A • Denver Colorado
Dotwork raises $12M led by Crane Nelson
Collaboration / Productivity • Series A • Georgetown, TX
Kloudfuse raises $17M led by Newlands
Infrastructure / Dev Tools • Series A • Cupertino, CA
Replit raises $20M led by Craft Ventures
Infrastructure / Dev Tool • Venture • San Francisco, CA
Tabnine raises $25M led by Telstra Ventures
Infrastructure / Dev Tool • Series B • Tel Aviv, Israel
Cast AI raises $35M led by Vintage Investment Partners
Infrastructure / Dev Tool • Series B • Miami, FL
Black Ore raises $60M led by Andreessen Horowitz and Oak HC/FT
Future of Work • Seed • Austin, TX
Volante Technologies raises $66M led by Sixth Street Growth
Fintech • Venture Round • Jersey City, NJ
Enable raises $120M led by Lightspeed Venture Partners
Future of Work • Series D • San Francisco, CA
Photonic raises $140M led by Inovia Capital, Amadeus Capital Partners and Others
Future of Work • Venture • Vancouver, Canada
Aleph Alpha raises $500M led by Innovation Park
Data / AI / Machine Learning • Series B • Heidelberg, Germany
Palo Alto Networks acquires Talon Cyber for $625M
Risk / Security • Acquisition • Tel Aviv, Israel
Vertu Capital acquires ActiveState Software for an Undisclosed Amount
Infrastructure / Dev Tools • Acquisition • Vancouver, CA