Iterate.ai, one of the 20 Hottest AI Software Companies according to CRN, has announced a strategic $6.4 million funding round, led by Auxier Asset Management with participation from seasoned retail and tech veterans Peter Cobb, Mike Edwards, and Dave Zentmyer—each formerly on the board of eBags.
This new capital will fuel the growth of Iterate.ai’s enterprise-ready AI tools, including its flagship product, Generate Enterprise a no-code AI assistant that runs even without internet access on AI PCs.
Strong Strategic Backing
The funding marks a reunion between CEO Jon Nordmark and former eBags board members Peter Cobb, Mike Edwards, and Dave Zentmyer, who bring deep experience from companies like DSW, Lands’ End, and VF Corp. Their return underscores strong confidence in Iterate.ai’s practical, enterprise-grade AI solutions and its growing partnerships with tech leaders like Intel.
Also joining is Jeff Auxier of Auxier Asset Management, a former eBags collaborator with expertise in financial and operational strategy. The investors highlighted Iterate’s strong momentum and global expansion potential, backed by strategic alliances with NVIDIA, Qualcomm, and TD SYNNEX.
Cutting-Edge Products: Generate & Interplay
Iterate.ai is tapping into the booming AI PC market, expected to exceed 100 million units by end-2025, with its new product Generate. Built for Intel CPUs, GPUs, and NPUs, Generate brings secure, on-device AI with a no-code interface, air-gapped RAG, built-in vector databases, and easy enterprise integration.
Iterate’s low-code platform enables rapid deployment of custom AI tools. Major brands like Ulta Beauty, Circle K, and FUJIFILM use Interplay for applications ranging from OCR to AI-powered social media automation and generative content creation.
Vision, Trust, and a Legacy of Success
Iterate’s team of co-founders includes Brian Sathianathan, a six-year veteran of Apple’s Secret Products Group and a patent holder on the original iPhone. His technical leadership and Nordmark’s retail-tech background are helping Iterate bridge the gap between AI innovation and enterprise usability.
“Iterate.ai understood the transformational role of AI back in 2015,” said investor Mike Edwards. “Their team has unmatched clarity on how to deliver next-gen AI safely, scalably, and securely.”
Zentmyer added, “Iterate’s partnership-driven strategy is key. Securing partnerships with top-tier hardware providers and distributors is no small feat. They’ve proven they’re ready for large-scale enterprise deployments.”
Looking Ahead
With fresh funding and a seasoned advisory circle, Iterate.ai is set to expand its distribution, refine operations, scale its patented AI solutions, and strengthen B2B integration across key sectors.
“This isn’t just capital it’s trusted strategic capital,” said CEO Jon Nordmark. “These investors have built iconic businesses, and with their support, we’re ready to shape the next chapter in enterprise AI.”
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