SOVRA has acquired Ontopical to strengthen its AI-driven public procurement solutions and establish an AI Centre of Excellence in Calgary.
Target Information
Ontopical, founded in Calgary in 2017 by experienced engineering consultant Derrick Koenig, specializes in AI-powered government market intelligence. It has developed solutions that provide businesses with insights into government work by detecting early signals long before Requests for Proposals (RFPs) are announced. The company has gained significant momentum in its sector, utilizing its AI Copilot, ‘Oliver’, to analyze millions of public documents—such as meeting minutes and budgets—to deliver curated opportunities and actionable insights for various industries.
With the recent addition of Clayton Feick as CEO in February 2023, Ontopical has positioned itself for accelerated growth. The company received initial seed funding from Accelerate Fund III in September 2023, further underpinning its potential in the rapidly evolving landscape of government procurement.
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Industry Overview
In North America, the public procurement sector is experiencing a transformative phase driven by digital innovation and the need for efficiency. As governmental bodies increasingly rely on technology to streamline operations, companies lik
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