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§ Private Profile · Toronto, Canada
AI customer service automation platform that deploys generative AI agents to resolve inquiries for enterprise and mid-market companies.
Headquartered in Toronto, Ada was founded in 2016 by Mike Murchison and David Hariri to develop an artificial intelligence customer service automation platform that resolves inquiries across messaging, email, and voice channels. Operating on a B2B SaaS subscription model, the company enables clients to deploy generative artificial intelligence agents that automatically handled over 1.5 billion interactions in 2020. The platform serves major corporate customers across the technology, telecommunications, and ecommerce sectors, including recognizable global brands like Meta, Verizon, Square, and Zoom. Ada reached a $1.2 billion valuation in 2021 following a $130 million Series C round backed by investors like Spark Capital and Tiger Global, bringing its total funding to approximately $200 million. Recently, the software provider overhauled its core platform to be fully powered by large language models and expanded its capabilities to include AI voice resolution.
Ada has raised $320.5M across 5 funding rounds.
Ada has raised $320.5M in total across 5 funding rounds.
# Ada Technologies: A High-Tech Manufacturing Company
Ada Technologies is a Colorado-based manufacturing and technology development company specializing in advanced energy storage solutions, primarily serving Department of Defense applications.[1][4] Founded in 1985 and headquartered in Englewood, Colorado, the company operates as a veteran-owned and managed small business with an integrated R&D division that develops cutting-edge technologies for transition to manufacturing.[4]
The company's core mission is to identify, develop, manufacture, and deliver innovative products that satisfy the needs of advanced market customers through customized product solutions.[1] Ada Technologies has raised approximately $650,000 in total funding and maintains ISO 9001:2015 certification for its manufacturing operations.[2][4] The organization recently expanded to a 32,000 square-foot customized facility that houses both manufacturing and R&D operations, complete with specialized dry room capabilities and laboratory space.[4]
Ada Technologies was established in 1985, positioning it as an established player in the technology development and commercialization sector.[2] The company evolved from its founding to become a specialized manufacturer focused on energy storage and advanced materials, with particular emphasis on government contracting. Its veteran-owned status reflects a commitment to supporting America's defense and security needs, which has shaped its primary customer base and product focus toward Department of Defense applications.[4]
The company's development trajectory demonstrates a deliberate strategy of combining R&D innovation with manufacturing capability—a synergistic approach that allows continuous product development while maintaining production capacity for current customers.[1]
Ada Technologies operates within the advanced energy storage sector, a critical area of technological development driven by increasing demand for sophisticated power solutions in defense, aerospace, and specialized industrial applications.[2] The company's focus on energy storage—including battery types and capacitor technologies—positions it within a broader ecosystem of 5,350+ companies developing energy storage solutions globally.[2]
The timing is significant: as defense modernization accelerates and energy storage becomes increasingly central to military capabilities, specialized manufacturers with government contracting expertise and proven manufacturing quality become more valuable. Ada's ISO certification, DCAA-approved systems, and DoD focus align it with long-term trends in defense technology advancement and supply chain security.
Ada Technologies represents a niche but strategically positioned player in the advanced energy storage market, with particular strength in government contracting. The company's recent facility expansion and sustained patent activity suggest confidence in continued growth within its specialized DoD customer base. As defense budgets remain robust and energy storage technology becomes increasingly critical to military systems, Ada's combination of manufacturing excellence, R&D capability, and government contracting infrastructure positions it well for sustained relevance.
The company's future likely depends on its ability to expand its customer base beyond DoD applications while maintaining its core government contracting strength, and on continued innovation in energy storage technologies that remain competitive with larger, better-capitalized competitors.
Ada has raised $320.5M across 5 funding rounds. Most recently, it raised $130.0M Other Equity in May 2021.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| May 27, 2021 | $130M Venture Round | Yasmin Razavi | Accel, Bessemer Venture Partners, FirstMark Capital, Tiger Global | Announced |
| May 1, 2021 | $130M Series C | Spark Capital | Accel, Bessemer Venture Partners, BoxGroup, Bullpen Capital, Deciens Capital, FirstMark Capital, FPV Fund, Giant Ventures, Third Sphere, Tribe Capital, Y Combinator, Immad Akhund, Othman Laraki, Scott Belsky, Burst Capital, Tiger Global, Version ONE Ventures | Announced |
| Mar 1, 2020 | $44M Series B | Accel | Bessemer Venture Partners, BoxGroup, FirstMark Capital, FPV Fund, Scott Belsky, Leaders Fund, Version ONE Ventures, Burst Capital | Announced |
| Dec 1, 2018 | $14M Series A | FirstMark Capital | BCF Ventures, Bessemer Venture Partners, BoxGroup, BoxOne Ventures, FPV Fund, Radical Ventures, Scott Belsky, Barney Pell, Burst Capital, Leaders Fund, Version ONE Ventures | Announced |
| Jul 20, 2017 | $2.5M Venture Round | Bessemer Venture Partners | Version ONE Ventures | Announced |
Ada has raised $320.5M in total across 5 funding rounds.
Ada's investors include Yasmin Razavi, Accel, Bessemer Venture Partners, FirstMark Capital, Tiger Global, Spark Capital, BoxGroup, Bullpen Capital, Deciens Capital, FPV Fund, Giant Ventures, Third Sphere.