IntelAgree, a Tampa artificial intelligence platform, has partnered with Workday AI Marketplace to provide one of the first offerings on the new platform.
The Workday AI Marketplace is a new customer-facing selection of AI and machine learning apps. The platform will launch from beta in 2024. Workday is a California-based human capital and employment management company that has worked with IntelAgree for two years.
IntelAgree uses machine learning to analyze employment contracts and perform other business processes. CEO and founder David Hull said the company has a “great relationship” with Workday. IntelAgree’s contract lifecycle management product was a “natural fit” for Workday’s offering and had a tight integration into its platform, too, Hull said. It allows Workday to add more AI tools to its platform, Hull said.
“Chairman and CEO Aneel Bhusri has seen the effect that machine learning and AI can have,” Hull said. “They wanted to create this marketplace for Workday customers where they can go, and they can know that ‘hey, these are trustworthy companies that are doing AI ethically and responsibly.”
Workday services “more than 50% of the Fortune 500.” The 15 apps, including IntelAgree, on the early version of the Workday AI platform are required to be certified and aligned with “Workday’s AI principles and values, such as a commitment to responsible AI,” to be included in the platform, according to a release. The platform will be available for customers in 2024.
Hull said the partnership will have a material impact on IntelAgree sales and will position the company to collaborate with Workday customers. It “will continue to sort of separate us from other competitors out in the marketplace,” Hull said.
IntelAgree’s customers include the Tampa Bay Rays and the Tampa Bay Buccaneers. Hull said it has seen growth in the past few years, and it expects to grow by over 50% this year. The company has 78 employees, according to LinkedIn.
The company’s next big step is to integrate generative AI into the product, Hull said.
“We’re just excited for people to start seeing the type of work we’re doing for some really interesting companies around the United States, very large ones,” Hull said.
CoLabs QOF LLC is the holding company for IntelAgree, Hull said. On Sept. 11, CoLabs received $45,528 in funds for company equity, according to a filing with the U.S. Securities and Exchange Commission. Hull declined to comment on the funds.
CoLabs was created as a software company in 2018 and pivoted to focusing on IntelAgree as its leading venture, Hull said. It raised more than $8 million in 2019 and $4 million in 2018.
“We’ve had the very good fortune of having some supportive local investors that continue to help us grow and scale the company,” Hull said.
