RESTON,
Va., July 10, 2024 /PRNewswire/ -- Rohirrim,
the leading Request for Proposal (RFP) AI automation platform,
announced today that Bessemer Venture Partners and IBM Ventures
made strategic investments in the company. These investments will
further fuel Rohirrim's mission to help businesses grow by
streamlining and strengthening their RFP response strategy.
Rohirrim's RohanRFP platform unlocks the power of organizations'
data and uses its patented generative AI technology to help them
create long-form, complex documents in a fraction of the time.
"When we looked at companies in the RFP
automation space, Rohirrim stood out as the clear market
leader."
Since announcing its Series A round led by Insight Partners in
2023, the company has experienced rapid growth. Over the past 12
months, Rohirrim has seen a 400% growth in customers. One customer
reported that the research that would normally take a team of SMEs
6 days to complete now takes 6 hours using RohanRFP. Additionally,
Rohirrim was selected to participate in the Microsoft Pegasus
Program, which offers additional support to startups to uncover
leads, drive sales, and accelerate growth. Mike Papay, Cybersecurity and Risk titan, joined
Rohirrim's Board of Advisors as Chairman, and Dave O'Hara, former Microsoft CFO, was recently
appointed to their Board of Directors.
"After countless nights of missing precious family moments to
work on RFP responses, in 2021, I began working on a better way,"
said Steven Aberle, Rohirrim CEO and
Founder. "RohanRFP has delivered profound efficiencies to our
customers, efficiencies that have the potential to be game changers
for organizations. This is the core of who we are and what drives
us every day as we execute our mission: to reimagine work and
deliver higher win rates, increased volume, and revenue growth for
all our customers."
"When we looked at companies in the RFP automation space,
Rohirrim stood out as the clear market leader for commercial and
public sector organizations that deal with lengthy and complex
proposal creation processes and care about best-in-class data
security. Rohirrim's technology has the potential to provide
meaningful business growth to organizations, and we believe they
have the team, technology, and infrastructure in place to make it
happen," said Aia Sarycheva, Investor at Bessemer Partner
Ventures.
By generating the first draft of an RFP in a fraction of the
time, proposal teams can focus on what they do best: storytelling
and persuasion - making their responses more compelling and
competitive. RohanRFP can profoundly impact an organization's
ability to grow by reducing costs and increasing the volume of RFP
submissions.
"As an AI native platform, Rohirrim is uniquely poised to
deliver on early promises of generative AI while protecting an
organization's proprietary data - aligning to IBM's vision for
helping organizations harness the power of AI with safety and
responsibility at the forefront. Rohirrim brings incredible
efficiencies to proposal writing with AI content creation," said
Tom Whiteaker, Partner at IBM
Ventures.
In addition to being investors in the company, the IBM team
experienced firsthand the power of the RohanRFP platform as early
adopters. They immediately saw the efficiency gains and impact on
their organization. IBM Ventures Partner Tom Whiteaker will join as
a board observer alongside Bessemer Venture Partners' Mike Droesh
and Aia Sarycheva.
About Bessemer Venture Partners
Bessemer Venture Partners helps entrepreneurs lay strong
foundations to build and forge long-standing companies. With more
than 145 IPOs and 300 portfolio companies in the enterprise,
consumer and healthcare spaces, Bessemer supports founders and CEOs
from their early days through every stage of growth. Bessemer's
global portfolio has included Pinterest, Shopify, Twilio, Yelp,
LinkedIn, PagerDuty, DocuSign, Wix, Fiverr, and Toast and has more
than $18 billion of assets under
management. Bessemer has teams of investors and partners located in
Tel Aviv, Silicon Valley,
San Francisco, New York, London, Hong
Kong, Boston, and
Bangalore. Born from innovations
in steel more than a century ago, Bessemer's storied history has
afforded its partners the opportunity to celebrate and scrutinize
its best investment decisions (see Memos) and also learn from its
mistakes (see Anti-Portfolio).
About Rohirrim
Rohirrim uses its patented, first-ever, organization-specific
generative-AI technology to develop groundbreaking products that
aim to reimagine how people work, particularly when it comes to
time-intensive, repetitive, and manual tasks. Rohirrim was born out
of the need to improve the work-life balance of proposal teams and
has stayed true to its vision in the continuous pursuit of new ways
to make people's work lives better. Learn more at
www.rohirrim.ai
Media Contact:
Farah van
Caloen
media@rohirrim.ai
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SOURCE Rohirrim