Lumi AI Has Been Acquired by Newforma

October 21, 2026

Lumi AI has been acquired by Newforma, the leading project and information management platform trusted by more than 1,500 firms worldwide. Read the full press release.

Since 2023, Lumi has built an agentic analytics platform that connects to a company’s data sources, automatically builds its context layer, and proactively surfaces actionable insights hiding in its data. Enterprise clients using Lumi uncovered multi-million-dollar opportunities across ERPs, databases, and data warehouses.

Why Newforma

An analytics engine is only as good as the context it works from. Newforma brings more than 20 years of structured project data and millions of users who rely on it. Together, Lumi’s engine and Newforma’s data will deliver verifiable answers to a far wider audience.

“We started Lumi to redefine how people interact with their own data: to make it as simple as asking a question,” said Ibrahim Ashqar, co-founder and CEO of Lumi AI. “Newforma brings rich project data and a large base of firms who depend on it. Combining that with Lumi’s engine unlocks far greater value for a much wider audience.”

“Our customers don’t need another AI that sounds confident, they need answers they can verify,” said Peter Cannone, CEO of Newforma. “Pairing Lumi’s engine with the deepest project data structure is how we set the standard rather than join the chorus.”

“We started Lumi to redefine how people interact with their own data: to make it as simple as asking a question,” said Ibrahim Ashqar, co-founder and CEO of Lumi AI. “Newforma brings rich project data and a large base of firms who depend on it. Combining that with Lumi’s engine unlocks far greater value for a much wider audience.”

What’s next

Tudor Boiangiu, co-founder and CTO of Lumi AI, joins Newforma as VP of AI Engineering, and the Lumi engineering team will continue building from Toronto. Lumi’s engine will extend Vojo, Newforma’s AI assistant, and power analytics in Newforma Konekt.

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To our customers, investors, partners and team: thank you for believing in Lumi from the start. None of this happens without you.