Otto

AI-powered platform automating procurement and accounts payable for mid-market enterprises

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Last updated May 22, 2026 (about 3 months ago).

Profile

Otto is an AI-powered procurement and accounts payable automation platform targeting mid-market and enterprise companies. It positions itself as an AP automation tool but aims to become the AI operating layer for back-office financial workflows, starting with invoice processing and purchase order management. Otto competes with ERP giants by offering AI-driven efficiencies in high-friction areas like invoice extraction, coding, and approval workflows.

Markets

AI Workflow Agents

Recent published developments

capitalMay 22, 2026

Voice-First CRM Startup Otto Raises $500K After SaaStock USA 2026 Win

$500K

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Voice-first CRM startup Otto, founded by Omkar Pandharkame, secured $500,000 in seed funding after winning the global pitch competition at SaaStock USA 2026. The round included Backfuture VC, Quadri Ventures, BAG Collective, and OneSixOne Ventures. Otto develops an AI-powered chief of staff for sales teams with a public beta planned for Q4 2026. Founder Omkar Pandharkame brings 15 years of B2B SaaS sales experience to the product.

Otto AI Workflow Agents1 source

peopleMay 22, 2026

Otto Group Names Boris Ewenstein New Chair of Management Board

Otto Group announced on November 25, 2025 that Dr. Boris Ewenstein would succeed Marc Opelt as Chair of the OTTO Management Board effective March 1, 2026. Opelt retired after 35 years with the Otto Group, including roles as Chief Marketing Officer since 2012 and board chair since 2018. Ewenstein previously held CEO responsibility for Retail & Marketplace at OTTO. The leadership transition occurred at the start of March 2026.

Otto AI Workflow Agents1 source

productMay 22, 2026

ServiceNow Launches Otto Unified AI Experience at Knowledge 2026

launch

ServiceNow introduced ServiceNow Otto at its Knowledge 2026 event in Las Vegas on May 5, 2026. The platform unifies Now Assist, Moveworks, and AI Experience into one conversational AI system that completes tasks across enterprise workflows and departments. Otto handles requests via chat, voice, search, and data queries while governed by AI Control Tower for policy enforcement and audit trails. ServiceNow EmployeeWorks using Otto generated six deals exceeding $1 million each in net new annual contract value within one month of launch.

Otto AI Workflow Agents1 source

distributionMay 22, 2026