Amsterdam-based Altura, which specializes in an AI-powered workspace for streamlined bid management and enhanced collaboration, has raised €8 million in a Series A funding round to expand into the UK market.
- Altura was founded in 2021 by Matthijs Huiskamp. The company develops software to manage and automate the bid and tender process. Its platform is designed for organizations that regularly compete for contracts through formal tenders or Requests for Proposals (RFPs).
- The platform consolidates all stages of the bidding process, from identifying opportunities to drafting proposals, into a single system. Altura utilizes AI to assist bid teams in searching documents, generating content, and making qualification decisions more efficiently.
- The platform includes autonomous AI agents capable of independently performing tasks such as drafting responses and flagging potential risks.
- According to the company, Altura’s platform is used to generate over 100 bids daily, reduces document analysis time by 95%, has helped teams save €82.2 million in costs, and enables bid creation up to 3.2 times faster.
Details of the deal
- The investment was led by Octopus Ventures, with support from existing investors Fortino Capital, Curiosity VC, and P1ST investors Perry Oostdam and Pawel Smoczyk.
- Altura will use the €8 million funding to expand into the UK by opening a London office and to develop autonomous AI agents that automate complex bid management tasks, helping clients win more tenders efficiently.
“We see the UK as a perfect next step for Altura. With the new Procurement Act, we see an even bigger need for Bid Management software, since this will enable and encourage even more companies to participate in the tenders," claims Matthijs Huiskamp, founder & CEO of Altura.
