Bessemer Venture Partners and IBM Ventures Invest in Rohirrim, Leader in RFP AI Automation

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Jul 10, 2024, 08:36 ET

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.

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.

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 Droesch 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
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SOURCE Rohirrim