Leadership: Paul Stillmank, founder and CEO
Headquarters: Milwaukee
What it does: Provides consulting services focused on AI and data modernization
Founded: 2023
Employees: 8
Next Goals: Reach between $7 million - $8 million in revenue next year, grow to 30-plus employees
Funding: $3.5 million seed round
When local tech entrepreneur Paul Stillmank’s company 7Summits was sold to IBM in 2021, he stayed on with the company for about a year. After stepping down from his role last May, he thought he’d have no shortage of activities to fill his time.
“I’m a bit of a romanticist,” Stillmank said. “I oil paint. I draw. I’ve got kind of a left-brain-right-brain thing going on. There’s a lot of musical instruments filling my room right now. I can fill my time.”
So, what prompted him to start a whole new company entirely focused on artificial intelligence? It was partly due to a book called “Younger Next Year” by Chris Crowley and the late Dr. Henry S. Lodge. After reading the book, which offers readers advice on maintaining good health and youthfulness, Stillmank was reminded of the importance of brain chemistry.
“Sitting around doing my fly fishing certainly was a great respite, but it’s not making me think really hard,” he said.
At one point, Stillmank considered opening a series of bakeries that would employ people with disabilities, but he decided to stick with the industry he knows best. The timing of the 7Summits sale along with the mounting AI buzz that arrived at the start of 2022 further solidified his choice to found 7Rivers.
“I always knew that data and AI played well together,” said Stillmank. “I knew there was an idea there to help companies.”
7Rivers helps business leaders identify the potential for value in their data and transform it into AI-based solutions. The goal of the startup is to help businesses understand the latest advancements in AI and machine learning by using their own data. 7Rivers is partnering with Snowflake, a Montana-based data cloud company.
7Rivers will be able to tap into Snowflake’s data cloud and use it to build custom solutions for clients. For example, using AI to analyze production data, a manufacturing company can optimize supply chain efficiency, predict equipment maintenance needs and tailor production runs, ultimately reducing costs and maximizing output.
“There’s hundreds of millions of dollars going into startup companies creating AI-driven products right now,” said Stillmank. “Who’s going to advise organizations on what to do for their business?”
7Rivers will initially target businesses in the financial services and insurance industries, along with manufacturers.
Stillmank said 7Rivers will generate value by creating smart applications for clients and letting them build their own large language models using their own data. All that data will remain private for each client.
“A lot of people ask us, ‘Should we just wait to look at AI?’ And our advice is AI is moving so fast, you can’t afford to wait,” he said.
7Rivers has already raised $3.5 million in seed funding and Stillmank expects the company to reach profitability within 18 months.
