Deloitte announced the spin-off of its award-winning contract lifecycle management (CLM) software offering, Arteria AI, formerly known as dTrax, into a standalone business outside of Deloitte.
Shelby Austin, who successfully led Deloitte’s Omnia AI business, will spearhead Arteria AI in this next phase. This is a great extension of Austin’s leadership and growth of Omnia AI and builds on the success of her previous company, ATD Legal, which was acquired by Deloitte in 2014. The move is meant to hyper-accelerate Arteria AI’s growth and expansion into new markets and attract third-party investment. Deloitte will continue as Arteria AI’s preferred services partner.
“This is an important moment for us to embody the incredible entrepreneurial spirit that is driving Canada’s prominence as a global centre for innovation and technology and leadership in diversity,” said Shelby Austin. “I look forward to this challenge and exploring this next frontier of innovation.”
A team will also transition over to Arteria AI; this includes Abrar Huq and Jonathan Wong, who alongside Shelby founded dTrax at Deloitte. Wong will act as the Chief Technology Officer, a role he has played at a number of startups previously, and Huq will fill the position as Chief Revenue Officer, leading Arteria AI’s go-to-market activities. Jas Jaaj has taken on leadership of Omnia AI.
“We believe this move will be instrumental in catapulting this already successful AI solution to new heights, faster” said Anthony Viel, Managing Partner and Chief Executive, Deloitte Canada. “I am confident that this is the best direction for our clients in this space, and that Shelby is the best person to take on this new venture.”
As an affiliate, Arteria AI will continue to be compliant with Independence requirements and Deloitte will support the new company in the market to ensure the company’s continued success.
Sourced from Deloitte