Harvey Raises $300M, Workday's New AI Platform, and Palo Alto's Cortex Cloud Launch

Hi there,

Welcome to the latest edition of the Enterprise AI Brief, where we bring you the most recent developments in the world of artificial intelligence and its impact on various industries. This week, Workday has introduced a new AI Agent Management Platform, aiming to enhance enterprise solutions by streamlining workforce management. Meanwhile, Palo Alto Networks has launched the Cortex Cloud for real-time cloud security, providing businesses with advanced tools to protect their digital assets.

In the realm of business and finance, Phenom Enterprise Cloud has acquired Pixentia, expanding its capabilities in talent management solutions. Additionally, 75F has raised $45 million to further its efforts in building automation, highlighting the growing interest in AI-driven solutions for energy efficiency. Stay tuned as we delve into these stories and more, exploring how AI continues to shape the future of enterprise technology.

Workday has launched the Workday Agent System of Record, a platform for enterprises to manage AI agents, track activities, and costs. The system is free, but new AI agents for payroll, contracts, and auditing will have associated charges. Palo Alto Networks has introduced Cortex Cloud, combining Prisma Cloud with Cortex CDR to enhance cloud security. The platform offers AI-driven features for real-time attack prevention and improved security operations. Optiva Inc. has launched its agentic AI technology in its Business Support Systems platform, leveraging Google's Gemini models to improve efficiency and customer experiences for communication service providers in the Middle East and the Americas.

Phenom Enterprise Cloud has acquired Pixentia to enhance its digitalization and AI solutions. 75F has secured $45 million in Series B funding to enhance energy efficiency and building automation using IoT and AI technology. PATRIZIA and CenterSquare Investment Management have invested in Aligned Data Centers to support its expansion in North and South America.

Armis, Check Point, CrowdStrike, Deloitte, and WWT are integrating NVIDIA's AI platform to enhance infrastructure security. Cyolo is incorporating NVIDIA's AI for cybersecurity, focusing on Zero Trust Network Access for industries like manufacturing and energy. The European Fund and Asset Management Association (EFAMA) has launched an AI Assessment Tool to aid asset managers in complying with the EU AI Act. Sardine AI raised $70 million to boost its AI-driven fraud prevention capabilities. Sapiens International Corporation released Sapiens UnderwritingPro v14 with AI to improve underwriting for insurers.

SAP SE has launched the SAP Business Data Cloud in collaboration with Databricks to enhance enterprise data management and AI capabilities. This new solution integrates data from SAP and third-party sources, offering advanced data engineering and machine learning features. DataVolt is investing $5 billion to build a large AI data center in Oxagon, Saudi Arabia, with a 1.5 gigawatt capacity, fully powered by renewable energy. The first phase is set to be operational by 2028.

Sivers Semiconductors AB has entered a strategic MOU with a leading optical infrastructure company to produce laser arrays for AI workloads, aiming to overcome power and bandwidth challenges in datacenters. Cerebras Systems has partnered with Perplexity AI to introduce Sonar, an AI-powered search model capable of processing 1,200 tokens per second, aiming to enhance search technology. Gaia Dynamics has introduced an AI-powered platform designed to streamline global trade compliance, focusing on tariff classification, regulatory compliance, and supply chain optimization.

ThisWay Global, an AI software company, has appointed Chris Kennedy as Chief Technology Officer and promoted Alex Shmelev to Chief Innovation Officer to enhance their AI and HPC solutions. ModelOp has appointed Mitch Tompkins as Vice President of Sales to enhance its market presence in AI Governance software. Tompkins brings over 20 years of sales leadership experience from companies like Domino Data Lab, Oracle, and SAS.

Tofu, a San Francisco-based AI platform for B2B marketing, has raised $12 million in Series A funding. The investment will help enhance marketing technology tools for enterprise go-to-market teams. Harvey has raised $300 million in a Series D funding round led by Sequoia, valuing the company at $3 billion. The funding supports Harvey's growth, with its customer base expanding significantly in 2024. Akamas, a Milan-based startup, has raised €9.6 million to expand into the US and enhance its AI-driven cloud optimization technology. The funding will support the opening of a new office in Boston and increase the team size. World Health Management from Spain has proposed a $1.8 billion investment to create an AI-powered medical data center in Egypt. The plan was discussed with Egypt's Minister of Investment, aiming to make Egypt a leader in AI-driven medical services in the Arab region. Toronto-based legaltech startup Alexi has obtained $4.5 million CAD in venture debt from TD Innovation Partners to enhance its AI tools for litigators, following a previous $15 million Series A round.

Brightwave, an AI-driven research platform, has partnered with Quartr to enhance data analysis for investment teams by integrating public market data with private deal documents. Altair has appointed Adastra GmbH as a channel partner for the EMEA region to implement its knowledge graph solutions within the Altair® RapidMiner® platform. Orange and Mistral AI have formed a strategic partnership to enhance AI capabilities in Europe, focusing on network optimization and service integration. OpenAI has teamed up with Schibsted Media Group to integrate news content from its brands into ChatGPT, offering users current news summaries with proper attribution.