Iterate.ai Raises $6.4 Million to Boost AI Platform Growth
San Jose, CA and Denver, June 12, 2025 — Iterate.ai, recognized as one of the 20 Hottest AI Software Companies by CRN, has secured $6.4 million in funding. The round was led by Auxier Asset Management, with participation from Peter Cobb, Mike Edwards, and Dave Zentmyer—all former board members of eBags.
Jeff Auxier, founder of Auxier Asset Management, partnered closely with Iterate.ai CEO Jon Nordmark during his time on the eBags board. Joining him are Cobb, co-founder of eBags and board director at Designer Brands (DSW); Edwards, a seasoned retail executive and multiple-time CEO; and Zentmyer, former SVP of Lands’ End. Their involvement signals confidence in Iterate.ai’s direction as it scales its AI-driven solutions and broadens distribution.
Experienced Leadership Drives Investor Confidence
The investors have a longstanding relationship with Nordmark and co-founder Brian Sathianathan. Nordmark co-founded eBags in 1998 alongside Cobb, while Sathianathan brings notable experience from his six years at Apple’s Secret Products Group, contributing to the development of the first iPhone.
Cobb highlights Iterate.ai’s practical approach to AI innovation, citing its partnership with Intel on AI inference processing via CPUs at the edge. This approach recently earned the company recognition from Fast Company and the Colorado Technology Association.
Edwards, with over 35 years in leadership roles across digital commerce and AI, notes how Iterate.ai anticipated AI’s impact early on. He points out that clients such as Ulta Beauty and Pampered Chef have leveraged Iterate’s technology to gain a competitive edge. Edwards emphasizes the company’s vision for secure, effective AI adoption in business.
Zentmyer adds that Iterate.ai has developed strong partnerships with major hardware vendors like NVIDIA, Qualcomm, and Intel, as well as distributors like TD SYNNEX. These collaborations will support scalable rollout efforts for Iterate’s AI solutions.
Strategic Growth and Market Expansion
The combined expertise of Auxier, Cobb, Edwards, and Zentmyer will guide Iterate.ai in refining operations, entering new markets, and maximizing the potential of its patented AI technologies. Sathianathan explains that the company has optimized its flagship AI product, Generate, to run efficiently across Intel CPUs, GPUs, and NPUs, ready to meet the growing demand projected for over 100 million AI PCs by 2025.
Iterate.ai is transforming Generate Enterprise into a comprehensive platform for building AI agents. It features a no-code interface, secure document retrieval, built-in vector databases, and seamless integration with enterprise storage systems.
About Iterate.ai’s AI Platform and Products
Iterate.ai offers a cloud-agnostic AI platform called Interplay that supports AI deployment on the edge and in private, secure environments. Interplay enables enterprises and large tech firms to quickly develop AI solutions with low-code tools. Generate, their newest product, is an AI assistant designed to operate entirely on-device without requiring internet connectivity.
Leading brands such as Ulta Beauty, Circle K, Hughes, FUJIFILM, MUFG, e.l.f. Cosmetics, and Pampered Chef use Interplay to improve operational efficiency, create AI-driven social media managers, implement deep-learning OCR, and address other complex AI projects.
Leadership Perspective
Jon Nordmark expressed enthusiasm about the new investors joining as both financial backers and strategic advisors. He highlighted the value of their extensive experience and longstanding relationships, which will support Iterate.ai’s next phase of growth.
About Iterate.ai
Iterate.ai develops AI solutions and platforms focused on practical business applications. With seven patents granted—including one for drag-and-drop AI—and multiple patents pending, the company offers a systematic, low-risk way for enterprises to scale AI innovation internally. Headquartered in San Jose, CA, and Denver, CO, Iterate.ai also operates offices across North America, Europe, and Asia.
For managers interested in AI adoption strategies and technology that can be deployed securely and efficiently, Iterate.ai presents a compelling example of integrating AI into enterprise workflows. To explore more on AI tools and courses that can enhance management capabilities, visit Complete AI Training.
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