Varicent, a Toronto, Canada-based provider of next generation Sales Performance Management (SPM), acquired Symon.AI, a technology platform built on Natural Language and Machine Learning algorithms that provide advanced analytics to business users and data scientists.
The amount of the deal was not disclosed. The acquisition brings to the Varicent SPM platform a full suite of data connectors, data preparation and augmented intelligence features. With the addition of Symon.AI, Varicent will enable effective compensation plans, optimized territories and quotas, and high performing sales teams in less time.
Symon.AI packages augmented intelligence capabilities needed to prepare data, get immediate views on trends and anomalies, and provide actionable insights, all in the form of an interactive user interface. The solution features analytical algorithms delivered in a framework that is designed for business users, not just data scientists.
Led by CEO Marc Altshuller, Varicent is a provider of Smart SPM (sales performance management) cloud-enabled software for mid-market and enterprise companies in any industry. Its augmented intelligence powered platform enables customers to see and address sales trends, problem areas, and opportunities, by predicting outcomes and prescribing actions to optimize revenue.
Varicent is also adding Dr. Jing Shyr as Chief Data Scientist and Dr. Joel Shapiro as Chief Analytics Officer.