Large organizations value Iterate because of our low-code AI platform, Interplay. They use it to build digital prototypes about 17x faster than traditional ways. They also promote those Interplay prototypes straight to production. Then Interplay serves as a fully scalable middleware, modernizing old tech stacks.
We also help large organizations discover and evaluate emerging technology solutions that involve AI, IoT, big data and technologies from emerging start-ups.
How did you come up with the idea for the company?
We are a low-code AI software platform that integrates and empowers a wide range of technologies, integrating old technologies with the newest ones like AI, IoT. Our software is perfect for building digital ecosystems. Once a component is built – a component that integrates into Oracle, for example – that component becomes a drag-n-drop block and it can be re-used again and again. We have access to more than 3,000 components for code re-use.
To optimize the solutions built on top of our platform, we do a lot of curation – meaning, we help large companies find valuable new technologies. We help innovation-teams and high-velocity operating-teams think through digital strategy and write implementation plans.
One reason we are unique is that we don’t do “cheeks-in-seats” or charge by the hour. While our employees often write advanced digital AI solutions for large companies, we get work done extremely fast. Because we are not paid by the hour, we are not incentivized to take a long time to deliver a product.
A second reason is because our prototypes deploy to production on Interplay, which has pre-configured, easy-to-modify, and re-usable components. We add tremendous value via our software.
A third reason we are unique is that we are unbiased. If we find startups or companies we like, we don’t earn commissions from them.
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How has the company evolved over the last couple of years?
We started out in 2013 and did 100% curation work – we helped large companies find and evaluate startups in a highly organized way. That business is called Signals, today, and we have a proprietary database of about 17 million startups to help the process. As Interplay matured, our revenue model transitioned. Now, the majority of our revenue comes from Interplay-related work, which means low-code, AI. We use Signals to help large companies with strategic roadmaps and for planning.
Because our clients ran into roadblocks in implementing new technologies, we built our patented low-code AI platform, Interplay, which allowed us to work alongside IT organizations, dramatically speeding up delivery. Beyond the AI, cost and drag-n-drop advantages it provides for digital innovators, many large companies use Interplay as a middleware – operating in production – to modernize their legacy tech stacks.
What can we hope to see from Iterate in the future?
We expect hundreds of companies to utilize our low-code platform, and many to use our curation and road mapping tools too.
We will build more and more solutions that can be replicated or reconfigured in hours versus months. One example is Threat Awareness which can be used by schools, convenience stores, grocers, airports. Another example is License Plate Detection capabilities which have a wide range of use cases too.
