EvoluteIQ Raises $53 Million Led by Baird Capital to Expand Agentic AI Automation

Overview

• The company closed a $53 million minority growth round led by Baird Capital, which adds Daina Spedding and Mark Donnelly to the board.
• Funds will back international expansion, deeper R&D in Bengaluru and Menlo Park, targeted M&A, and hiring across sales, marketing, and technology roles.
• EvoluteIQ’s EIQ platform combines its proprietary Agentic Mesh Architecture with an AI Workbench to automate end‑to‑end enterprise workflows.
• Management reports traction with positive EBITDA, net revenue retention above 180%, and a compound annual growth rate exceeding 100%.
• Growth priorities include healthcare, insurance, and financial services, with the US as the largest market and Europe as the second‑largest.