{"id":68863,"date":"2025-06-12T12:02:03","date_gmt":"2025-06-12T12:02:03","guid":{"rendered":"https:\/\/english.saigonbiz.com.vn\/2025\/06\/12\/iterate-ai-raises-6-4-million-from-auxier-asset-management-and-ebags-board-alumni-to-accelerate-ai-expansion\/"},"modified":"2025-06-12T12:02:03","modified_gmt":"2025-06-12T12:02:03","slug":"iterate-ai-raises-6-4-million-from-auxier-asset-management-and-ebags-board-alumni-to-accelerate-ai-expansion","status":"publish","type":"post","link":"https:\/\/english.saigonbiz.com\/vn\/iterate-ai-raises-6-4-million-from-auxier-asset-management-and-ebags-board-alumni-to-accelerate-ai-expansion\/","title":{"rendered":"Iterate.ai Raises $6.4 Million from Auxier Asset Management and eBags Board Alumni to Accelerate AI Expansion"},"content":{"rendered":"
\n

The strategic round led by Auxier Asset Management, with investments from former eBags board members Peter Cobb, Mike Edwards, and Dave Zentmyer, underscores strong confidence in Iterate\u2019s enterprise-ready AI platform and growth vision<\/em><\/p>\n

SAN JOSE, Calif. and DENVER, June 12, 2025 (GLOBE NEWSWIRE) — Iterate.ai<\/u><\/a>, recently named one of the 20 Hottest AI Software Companies by CRN<\/u><\/a>, has announced $6.4 million in funding led by Auxier Asset Management<\/u><\/a> and with participation from Peter Cobb, Mike Edwards, and Dave Zentmyer. All four are former eBags board members.<\/p>\n

Jeff Auxier, founder of Auxier Asset Management, was a longtime board member at eBags, where he worked closely with Iterate.ai<\/u><\/a> CEO Jon Nordmark. He\u2019s joined by other eBags board veterans including Cobb<\/u><\/a> (co-founder of eBags and Designer Brands (DSW) board director), Edwards<\/u><\/a> (a seasoned retail executive and four-time CEO, including at eBags), and Zentmyer<\/u><\/a>, former SVP of Lands\u2019 End. Their collective involvement signals a powerful vote of confidence in Iterate\u2019s AI growth journey as it expands distribution channels and introduces its key productivity solution, Generate Enterprise<\/u><\/a>.<\/p>\n

The investors\u2019 decision to collaborate once again with Nordmark and his CDTO\/co-founder Brian Sathianathan reflects the strong trust and mutual respect established during their successful tenure together at eBags, which sold $1.65 billion worth of travel products before it was acquired.<\/p>\n

Before co-founding Iterate.ai with Sathianathan\u2014who was a six-year member of Apple\u2019s 60-person Secret Products Group that developed the first iPhone and is a patent holder on that groundbreaking product\u2014Nordmark co-founded eBags in 1998 with Cobb. Cobb brings extensive experience scaling successful digital pure-play businesses, co-founding eBags (acquired by Samsonite) and 6pm.com (acquired by Zappos). He has served on the boards of publicly traded companies such as Designer Brands (DSW), and spent a decade as board director for the National Retail Federation and its digital predecessor, Shop.org.<\/p>\n

\u201cIterate.ai\u2019s approach to AI innovation is not only forward-thinking but also pragmatic, ensuring real-world application and success for enterprises,\u201d said Cobb. \u201cLook at how Iterate partnered with Intel to pioneer AI inference processing using CPUs on the Edge.\u201d The company\u2019s method of building technologies recently earned it a spot in Fast Company<\/u><\/em>\u2019s Best Workplaces for Innovators<\/u><\/a> and recognition from the Colorado Technology Association as Colorado\u2019s top technology company.<\/p>\n

Edwards is a seasoned CEO and board chairman with over 35 years of leadership experience spanning public and private companies across industries such as digital commerce, consumer-tech AI, and CPG brands. A trusted investor and independent director with SEC financial expertise, he brings a wealth of strategic insight. His leadership roles include CEO of eBags (following Nordmark), as well as Lucy (acquired by VF), Hanna Andersson, and Borders, where he was appointed by Ben Lebow and Bill Ackman. Earlier in his career, Edwards served as EVP at Staples and CompUSA, following his graduation from Drexel University, where he is now a trustee.<\/p>\n

\u201cIterate.ai recognized the transformational opportunity of AI in 2015 when it added the dot AI to its name, and customers like Ulta Beauty<\/u><\/a> and Pampered Chef have been benefiting from Iterate\u2019s cutting-edge technology for years,\u201d said Edwards, strategic investor, Iterate.ai. \u201cThis is an incredibly smart team with a clear vision for how businesses can adopt next-gen AI effectively and securely\u2014while outpacing and outmaneuvering competitors with innovative applications. I\u2019m excited to help Iterate write the next chapter in the company\u2019s story.\u201d<\/p>\n

Zentmyer\u2014a former SVP of Lands\u2019 End\u2014helped build that company\u2019s revenues from $10 million to a few billion after earning his MBA from Stanford University. \u201cIterate spent the past 18 months establishing partnerships<\/u><\/a> with hardware providers like NVIDIA, Qualcomm, Intel, and distributors\/resellers like TD SYNNEX that will help Iterate architect a rollout at scale,\u201d said Zentmyer. \u201cBuilding those partnerships is a tremendous feat because each of those Big Tech firms has a significant vetting process.\u201d<\/p>\n

With their track records, Auxier, Cobb, Edwards, and Zentmyer are well-positioned to offer valuable guidance and help Iterate.ai refine operational strategies, expand into new channels, and unlock the vast market potential of its patented solutions\u2014further strengthening its presence in key industry verticals.<\/p>\n

\u201cThis AI PC revolution is underway\u2014analysts project over 100 million AI PCs will ship by 2025\u2014and we\u2019ve meticulously optimized Generate across Intel\u2019s CPUs, GPUs, and NPUs to harness that on-device performance and efficiency,\u201d said Sathianathan. \u201cAt the same time, we\u2019re evolving Generate Enterprise into a unified, one-stop platform for agent building with a no-code interface and air-gapped, secure document RAG\u2014complete with built-in vector databases and seamless integration into large-scale enterprise storage environments.\u201d<\/p>\n

Iterate.ai offers an AI platform<\/strong> and four distinct AI products<\/strong>, including its newest product, Generate<\/u><\/a>. Generate is an AI Assistant that can run entirely on an AI PC, even without an internet connection.<\/p>\n

Iterate\u2019s low-code AI platform, Interplay<\/u><\/a>, empowers traditional enterprises and Big Tech to rapidly build and scale AI solutions<\/u><\/a>. With Interplay, Iterate creates its own innovative products, like Generate. Leading companies, including Ulta Beauty, Circle K, Hughes, FUJIFILM, MUFG, e.l.f. Cosmetics and Pampered Chef, leverage Interplay to enhance operational efficiency, develop custom AI-powered social media managers, implement deep-learning-based OCR, and tackle many other advanced AI initiatives.<\/p>\n

\u201cI\u2019ve known each of these leaders for at least twenty years. Each brings a wealth of practical experience and strategic insight to fuel Iterate\u2019s growth,\u201d said Nordmark. \u201cWe couldn\u2019t be more excited to welcome Mike, Dave, Peter, and the Auxier group as investors and strategic advisors.\u201d<\/p>\n

About Iterate.ai<\/strong><\/p>\n

Iterate.ai is at the forefront of empowering businesses with state-of-the-art AI solutions, like Generate and its AI low-code platform, Interplay. Interplay is cloud-agnostic and can run AI on the edge and in secure private environments. With seven patents granted (including \u201cdrag-and-drop AI\u201d) and nearly a dozen more pending, Iterate.ai\u2019s platform offers corporate innovators a low-risk, systematic way to scale in-house, near-term digital innovation initiatives. With its largest offices in San Jose, CA and Denver, CO, Iterate.ai has a global presence with other offices in North America (Texas, Washington, Arizona), Europe (Stockholm), and Asia (India, Sri Lanka, Singapore).<\/p>\n

Contact<\/strong>
Kyle Peterson
kyle@clementpeterson.com<\/a><\/p>\n

\"\"<\/div>\n","protected":false},"excerpt":{"rendered":"

The strategic round led by Auxier Asset Management, with investments from former eBags board members Peter Cobb, Mike Edwards, and Dave Zentmyer, underscores strong confidence in Iterate\u2019s enterprise-ready AI platform and growth vision SAN JOSE, Calif. and DENVER, June 12, 2025 (GLOBE NEWSWIRE) — Iterate.ai, recently named one of the 20 Hottest AI Software Companies […]\n","protected":false},"author":1,"featured_media":79226,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-68863","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-people"],"yoast_head":"\nIterate.ai Raises $6.4 Million from Auxier Asset Management and eBags Board Alumni to Accelerate AI Expansion - Biz and Live in Saigon<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/english.saigonbiz.com\/vn\/iterate-ai-raises-6-4-million-from-auxier-asset-management-and-ebags-board-alumni-to-accelerate-ai-expansion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Iterate.ai Raises $6.4 Million from Auxier Asset Management and eBags Board Alumni to Accelerate AI Expansion\" \/>\n<meta property=\"og:description\" content=\"The strategic round led by Auxier Asset Management, with investments from former eBags board members Peter Cobb, Mike Edwards, and Dave Zentmyer, unde\" \/>\n<meta property=\"og:url\" content=\"https:\/\/english.saigonbiz.com\/vn\/iterate-ai-raises-6-4-million-from-auxier-asset-management-and-ebags-board-alumni-to-accelerate-ai-expansion\/\" \/>\n<meta property=\"og:site_name\" content=\"Biz and Live in Saigon\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/SaigonbizGroup\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-12T12:02:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/english.saigonbiz.com\/vn\/wp-content\/uploads\/2025\/06\/Iterate-ai.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1\" \/>\n\t<meta property=\"og:image:height\" content=\"1\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/english.saigonbiz.com\/vn\/iterate-ai-raises-6-4-million-from-auxier-asset-management-and-ebags-board-alumni-to-accelerate-ai-expansion\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/english.saigonbiz.com\/vn\/iterate-ai-raises-6-4-million-from-auxier-asset-management-and-ebags-board-alumni-to-accelerate-ai-expansion\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\/\/english.saigonbiz.com\/vn\/#\/schema\/person\/267b348e6cf32a66aab33637c2d399a6\"},\"headline\":\"Iterate.ai Raises $6.4 Million from Auxier Asset Management and eBags Board Alumni to Accelerate AI Expansion\",\"datePublished\":\"2025-06-12T12:02:03+00:00\",\"dateModified\":\"2025-06-12T12:02:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/english.saigonbiz.com\/vn\/iterate-ai-raises-6-4-million-from-auxier-asset-management-and-ebags-board-alumni-to-accelerate-ai-expansion\/\"},\"wordCount\":1037,\"publisher\":{\"@id\":\"https:\/\/english.saigonbiz.com\/vn\/#organization\"},\"articleSection\":[\"People\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/english.saigonbiz.com\/vn\/iterate-ai-raises-6-4-million-from-auxier-asset-management-and-ebags-board-alumni-to-accelerate-ai-expansion\/\",\"url\":\"https:\/\/english.saigonbiz.com\/vn\/iterate-ai-raises-6-4-million-from-auxier-asset-management-and-ebags-board-alumni-to-accelerate-ai-expansion\/\",\"name\":\"Iterate.ai Raises $6.4 Million from Auxier Asset Management and eBags Board Alumni to Accelerate AI Expansion - 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