AI integration specialist AI Squared acquired open-source Reverse ETL (rETL) company, Multiwoven. Terms were not disclosed.
The acquisition follows AI Squared’s $13.8 million Series A funding round in April.
AI Squared made its Finovate debut at FinovateSpring 2023.
AI integration platform AI Squared has acquired open-source Reverse ETL (rETL) company Multiwoven. The transaction fortifies AI Squared’s ability to help organizations more easily move data and AI-based insights into business applications.
In a statement, AI Squared Founder and CEO Benjamin Harvey praised both Multiwoven’s technology as well as its open-source approach to innovation. “From my experiences as a data-science executive at the National Security Agency and as an early employee at Databricks, I recognize and respect the critical role that the open-source community plays in fueling innovation,” Harvey said. “Now as a singular organization, AI Squared and Multiwoven will continue to lead the way in open-source rETL, while simultaneously bringing critical data-movement functionality to our customers.”
Multiwoven is an open-source, reverse ETL platform that facilitates secure data segmentation, synchronization, and activation. The company’s technology makes it easier for firms to deploy this organized data into applications and business tools for sales, marketing, and advertising operations. By integrating Multiwoven’s rETL capabilities into its platform, AI Squared will be able to help organizations efficiently integrate robust data and AI insights into their applications.
“With our new combined team, we will be able to accelerate the development and growth of Multiwoven open-source, which will remain free to use,” Multiwoven Co-Founder and CEO Sojoy Golan said. “We are also excited to now introduce advanced capabilities to activate AI/ML data, together with AI Squared.”
AI Squared also will continue to support development of Multiwoven’s open-source technology. Golan called open-source “a wonderful enabler” that has helped uncover insights not only for Multiwoven’s own users and open-source contributors, but also for “the data practitioners on our Community Slack, and all the other generous people in the open-source community.” As part of the transaction, Multiwoven’s team will join AI Squared. Golan has been named Chief Product Officer; Multiwoven Co-Founders Nagendra Dhanakeerthi and Subin Thattaparambil will serve as Chief Technology Officer and SVP of Engineering, respectively.
Headquartered in Washington, D.C., AI Squared made its Finovate debut at FinovateSpring 2023 and returned to the Finovate stage later that year for FinovateFall in New York. In its most recent appearance, AI Squared demonstrated how adding Generative AI to the platform’s Predictive AI capabilities enables users to build tools such as chatbots to help them more efficiently query their data.
AI Squared was founded in 2019. Learn more about the company in our feature interview with AI Squared’s Benjamin Harvey.
Photo by Lum3n
