UiPath (NYSE: PATH), a NYC-based enterprise automation software company, acquired Re:infer, a London, UK-based natural language processing (NLP) company for unstructured documents and communications.
The amount of the deal was not disclosed.
Founded in 2015 by Ph.D. scientists from the AI research lab at University College London and led by Dr. Ed Challis, CEO, Re:infer uses machine learning (ML) technology to mine context from communication messages and transform them into actionable data with speed and accuracy.
The company allows users to deploy custom machine learning models to analyze documents and communications data generated by a typical business each day – data previously lost or ignored due to processing limitations. Their no-code interface allows business users to train their own AI models for greater specificity and flexibility. The self-learning capability continuously improves model accuracy to assist customers in identifying bottlenecks and inefficiencies. Today, Re:infer serves many of the world’s leading enterprises – including large banking, insurance, and e-commerce organizations – to scale their services, enhance customer experience, and drive process improvement. This includes Deutsche Bank, Hiscox Ltd., and Farfetch.