Shivaas Gulati, a co-founder of the digital finance company Remitly, has announced the launch of a new venture named Arkero AI. The Seattle-based startup will focus on developing artificial intelligence solutions for sports organizations and the live events sector, aiming to help them unlock new business value.
The company is currently in its early stages, with Gulati actively assembling a team and securing investment. The move follows Gulati's departure from Remitly in 2022 and his subsequent immersion in the sports industry, including roles with English football club Southend United and Seattle Sounders FC.
Key Takeaways
- Shivaas Gulati, co-founder of Remitly, has launched a new company called Arkero AI.
- The startup aims to provide AI-driven solutions for the sports and live events industries.
- Gulati's recent experience includes serving as a technical advisor for Seattle Sounders FC and being part of the ownership of Southend United.
- Arkero AI will be based in Seattle, and the company is actively recruiting and seeking investment.
A New Venture to Integrate AI in Sports
Shivaas Gulati is launching his next major project, Arkero AI, with the goal of addressing a fundamental challenge for businesses in the modern era. Many organizations struggle to understand how to effectively implement artificial intelligence to improve their operations and create value.
Arkero AI intends to provide clear answers and practical tools specifically for the sports and live events markets. "I think we figured out that we can answer that question in novel ways," Gulati stated. "We understand how they operate."
The company's focus is on creating specialized AI products that cater to the unique needs of sports teams, leagues, and event organizers. This could include areas like fan engagement, operational efficiency, and performance analytics, though specific product details have not yet been released.
From Digital Finance to the Sports Arena
Gulati's transition into the sports technology sector follows a successful career in finance technology. He co-founded Remitly in 2011, helping to build it into a global leader in digital remittances. After leaving the company in 2022, he turned his focus to the sports world, combining his passion with his business acumen.
Leveraging Direct Industry Experience
Gulati’s strategy for Arkero AI is heavily influenced by his recent hands-on experience within the sports industry. For the past year, he has been involved with the ownership group of Southend United, an English football club that competes in the fifth tier of the national league system. This role provided him with a deep understanding of the day-to-day operations of a sports organization.
More recently, Gulati has spent six months as a technical advisor to Seattle Sounders FC. Working with the Major League Soccer (MLS) club allowed him to explore its technology and AI strategy from the inside.
"My work with the Sounders allowed him to connect some of the dots on his latest venture where I think we can create some interesting business value."
This direct involvement has given Gulati valuable insights into the specific problems that AI can solve for sports teams, moving beyond theoretical applications to address real-world operational needs.
Remitly's Growth and Scale
Remitly, the company Gulati co-founded in 2011, has achieved significant scale. It is now a publicly traded company on the Nasdaq with a market valuation of approximately $3.3 billion. The company employs 2,800 people globally, with more than 500 based at its Seattle headquarters.
Building a Specialized Team in Seattle
Arkero AI is being built in Seattle, a city Gulati praises for its rich talent pool. "Seattle is an amazing, talent-dense place for us," he said. "It’s a great place to build a company, and we’re going to double down on that and build another big company here."
Seeking AI Native Talent
The company is specifically looking to hire what Gulati calls "AI native product builders." He describes this new generation of tech professionals as being deeply integrated with modern AI tools and capable of using them to create significant leverage in their work.
Gulati plans to bring on board talented individuals he has worked with in the past, leveraging his extensive network in the Seattle tech community. As a board member of Foundations, an organization that supports startup founders, he is well-positioned to attract top-tier talent.
Securing Investment and Early Partnerships
While the company is new, it is already generating interest from investors. Gulati mentioned he is building an investor roster that includes "big hitters and some team owners around the nation." He noted that his track record with Remitly has put him in a fortunate position where previous backers are interested in supporting his next venture.
In addition to securing capital, Arkero AI has already established its first key relationships. The startup has signed on three initial design partners located in both the United States and England. These partnerships will be crucial for developing and refining Arkero’s products with direct feedback from the target industry.
Gulati expressed his enthusiasm for the new challenge, framing it as a core part of his entrepreneurial identity. "I’m an entrepreneur at heart," he said. "This is very energizing for me. I think ultimately it’s the chance to solve another big problem, go after another exciting space."