Loading organizations...
§ Private Profile · Montréal, QC, Canada
Develops artificial intelligence business applications via an AI-as-a-service model for large corporations, offering deep learning expertise.
Element AI is a Montreal, Quebec-based technology company that develops artificial intelligence business applications for large corporations using an AI-as-a-service model. The enterprise software provider leverages extensive deep learning expertise to help corporate clients implement automated business strategies, optimize internal operations, and collaborate on advanced machine learning research projects. Operating with a global workforce of 331 employees, the firm expanded its international operational footprint by opening additional corporate offices in London and Toronto during the 2018 calendar year. To support this commercial expansion and ongoing product development, the organization secured $102 million in Series A funding through strategic investments from prominent backers including Microsoft Ventures, Intel Capital, and Tencent. Element AI was officially founded in 2016 by a team of industry experts and academics comprising Jean-François Gagné, Yoshua Bengio, Anne Martel, Nicolas Chapados, and Philippe Beaudoin.
Element AI has raised $255.0M across 3 funding rounds.
Key people at Element AI.
Element AI was founded in 2016 by Anne Martel (Co-Founder, SVP Operations) and Gabriel Duford (SVP Platform & Technology, Co-founder) and Yoshua Bengio (Co-founder) and Nicolas Chapados (Co-Founder & CSO).
Element AI has raised $255.0M in total across 3 funding rounds.
Element AI has raised $255.0M across 3 funding rounds. Most recently, it raised $150.0M Series B in September 2019.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Sep 1, 2019 | $150M Series B | — | Lasse Clausen, Craft Ventures, Dcvc (data Collective), Haystack, Kindred Ventures, Long Journey Ventures, Threshold Ventures, Tribe Capital, Scott Belsky, BDC Capital, Hanwha Asset Management, Patrick Lahaie, Pierre Fitzgibbon, Real Ventures | Announced |
| Dec 5, 2018 | $5M Debt Financing | Navdeep Bains | — | Announced |
| Jun 1, 2017 | $100M Series A | Dcvc (data Collective) | Lasse Clausen, BDC Venture Capital, Craft Ventures, Haystack, Kindred Ventures, Long Journey Ventures, Threshold Ventures, Tribe Capital, Vertex Ventures Israel, Scott Belsky, Fidelity Investments Canada, Hanwha Group, Naveen RAO, M12, National Bank OF Canada, Jeff Herbst, Real Ventures | Announced |
Element AI was a Montreal-based artificial intelligence company that developed AI-based software, end-to-end advisory services, AI enablement tools, and products to help large organizations operationalize AI for business impact.[1][2] It pioneered an AI-as-a-Service (AIaaS) model, leveraging deep learning expertise to deliver business applications for enterprises in sectors like insurance underwriting and manufacturing.[2][3] Serving corporations seeking to deploy AI capabilities quickly, Element AI addressed the challenge of integrating complex AI into workflows and data management, raising $257.14M before its acquisition by ServiceNow in November 2020.[1][5]
Element AI originated from a deep learning incubator launched in July 2016 by renowned AI researcher Yoshua Bengio at McGill University in Montreal, quickly attracting serial entrepreneurs like Jean-Francois Gagné and Nicolas Chapados.[2] Officially founded in October 2016 by CEO Jean-François Gagné, Anne Martel, Nicolas Chapados, Jean-Sébastien Cournoyer, Yoshua Bengio, and Philippe (likely Dupuis, per context), the company launched with backing from Montreal's Real Ventures.[2][5] Early traction included acquiring MLDB.ai in February 2017 and raising a record $102M Series A in June 2017—the largest for any AI startup at the time—followed by expansions to London (2018) and Toronto.[2]
Element AI rode the early AI adoption wave in the mid-2010s, capitalizing on breakthroughs in deep learning amid surging enterprise demand for AI to optimize operations.[2] Its timing was ideal post-2016 AI hype, when corporations needed practical deployment solutions amid a talent shortage—market forces like cloud computing growth and data explosion favored its AIaaS approach.[1][3] By partnering with academics and expanding globally, it influenced Montreal's emergence as an AI hub, fostering talent pipelines and validating AI commercialization, which accelerated ecosystem investments in Canada and beyond.[2]
Post-2020 ServiceNow acquisition, Element AI's technology has been integrated into ServiceNow's platform, enhancing AI-driven workflows for enterprise customers worldwide.[1][3][5] Looking ahead, its legacy endures in ServiceNow's AI expansions, shaped by trends like generative AI and agentic systems demanding seamless enterprise integration. Element AI's pioneering AIaaS model set a blueprint for operationalizing AI at scale, evolving its influence from standalone innovator to embedded force in a maturing AI landscape—proving how deep expertise can drive lasting business transformation.[1][2]
Key people at Element AI.
Element AI was founded in 2016 by Anne Martel (Co-Founder, SVP Operations) and Gabriel Duford (SVP Platform & Technology, Co-founder) and Yoshua Bengio (Co-founder) and Nicolas Chapados (Co-Founder & CSO).
Element AI has raised $255.0M in total across 3 funding rounds.
Element AI's investors include Lasse Clausen, Craft Ventures, DCVC (Data Collective), Haystack, Kindred Ventures, Long Journey Ventures, Threshold Ventures, Tribe Capital, Scott Belsky, BDC Capital, Hanwha Asset Management, Patrick Lahaie.
