Merger and Acquisition

AI Squared Expands Capabilities with Acquisition of Multiwoven

• ByStartupStory     |    May 11, 2024

AI Squared, a leading artificial intelligence (AI) integration platform, has finalized the acquisition of Multiwoven, a prominent open-source reverse ETL (rETL) company with offices in California and Bengaluru.

The acquisition, undisclosed in terms of financial details, underscores AI Squared’s commitment to advancing the delivery of data-driven insights into enterprise applications. Less than two weeks following a successful $13.8 million Series A funding led by Ansa Capital, AI Squared is poised to integrate Multiwoven’s rETL capabilities into its existing suite of enterprise solutions.

Benjamin Harvey, Founder and CEO of AI Squared, expressed optimism about the acquisition’s impact, stating, “Now as a singular organisation, AI Squared and Multiwoven will continue to lead the way in open-source rETL, while simultaneously bringing critical data-movement functionality to our customers.”

Reverse ETL, a process integral to modern data operations, involves the extraction of organized data from warehouses and its seamless integration into daily-use applications like sales, marketing, and advertising platforms.

With Multiwoven’s technology now part of AI Squared’s enterprise platform, the integration aims to empower organizations to efficiently harness data insights for business growth.

Multiwoven’s leadership will play key roles within AI Squared following the acquisition. Sujoy Golan assumes the position of Chief Product Officer, Nagendra Dhanakeerthi as Chief Technology Officer, and Subin Thattaparambil as Senior Vice President of Engineering.

Golan, Co-founder and CEO of Multiwoven, highlighted the collaborative potential of the merger, stating, “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. We are also excited to now introduce advanced capabilities to activate AI/ML data, together with AI Squared.”

AI Squared’s suite of solutions has been rapidly gaining traction across government agencies and Fortune 500 corporations in sectors including finance, manufacturing, and health, reflecting the increasing demand for robust AI-driven data integration solutions.

The incorporation of Multiwoven’s expertise is expected to further solidify AI Squared’s position as a frontrunner in the domain of AI-powered data integration, unlocking new opportunities for businesses to leverage data-driven insights effectively.

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