OpenAI acquires team behind executive coaching AI tool Convogo
What's the story
OpenAI has announced its latest acqui-hire, the team behind Convogo. The business software platform helps executive coaches, consultants, talent leaders, and HR teams automate leadership assessments and feedback reporting. However, unlike previous acquisitions, OpenAI is not acquiring Convogo's intellectual property or technology but hiring the team for its "AI cloud efforts."
Team transition
Convogo's co-founders to join OpenAI
The three co-founders of Convogo, Matt Cooper, Evan Cater, and Mike Gillett will now be a part of OpenAI. The acquisition is an all-stock deal. However, the product offered by Convogo will be phased out after the transition. The decision comes as part of OpenAI's strategy to integrate new talent and capabilities into its existing ecosystem.
Evolution
Convogo's journey and future plans
Convogo started as a "weekend hackathon" after Cooper's mother, an executive coach, asked if an AI tool could automate report writing. In the last two years, Convogo has assisted thousands of coaches and collaborated with top leadership development firms. The team believes that bridging the gap between new model releases and real-world outcomes requires thoughtful experiences like what they've built for coaches at Convogo.
M&A approach
OpenAI's acquisition strategy and Convogo deal
The Convogo acqui-hire is OpenAI's ninth acquisition in a year, according to PitchBook data. In most of these cases, the product was either integrated into OpenAI's ecosystem or shut down completely as the team joined OpenAI. The Convogo deal also shows that OpenAI is using mergers and acquisitions (M&A) as a way to speed up talent acquisition and capability building.