AI Squared, a Washington, DC-based technology provider for integrating information into web-based business applications, acquired Multiwoven, a Mountain View, CA and Bangaolore, India-based open-source reverse ETL (rETL) company.
The amount of the deal was not disclosed.
With this acquisition, AI Squared will be incorporating Multiwoven’s rETL capabilities into its existing enterprise offering to help organizations integrate data and AI insights into business applications. Along with integrating Multiwoven’s technology into its enterprise platform, AI Squared will continue to support active development of Multiwoven’s open-source technology.
The Multiwoven team joins AI Squared as part of the acquisition, with founders assuming leadership roles at the company. Sujoy Golan will now serve as AI Squared’s Chief Product Officer, Nagendra Dhanakeerthi will serve as Chief Technology Officer, and Subin Thattaparambil will serve as SVP of Engineering.
Multiwoven enables users to sync customer data into their business tools. Its Open-source Reverse ETL platform makes data segmentation, sync and activation easy and fully secure. Reverse ETL is the process of taking organized data from a data warehouse and moving it into applications and tools that businesses use daily, such as sales, marketing, and advertising platforms.
Founded in 2021, and led by CEO Benjamin Harvey, AI Squared helps organizations deliver data and AI insights into their business applications. The company’s solutions are currently being rolled out across government organizations, as well as Fortune 500 corporations across the finance, manufacturing, and health industries. The acquisition of Multiwoven comes less than two weeks after AI Squared’s nearly $14m Series A funding round, which was led by ANSA Capital and NEA.
FinSMEs
10/05/2024