AI Squared, a prominent technology provider specializing in integrating information into web-based business applications, has announced its acquisition of Multiwoven, the world’s leading open-source Reverse ETL (rETL) company. This strategic move underscores AI Squared’s dedication to simplifying the movement of data and AI insights into business applications, further solidifying its position in the industry.
Bolstering Capabilities Post-Series A Funding
The acquisition of Multiwoven follows closely on the heels of AI Squared’s recent Series A funding round, which raised nearly $14 million and was led by ANSA Capital and NEA. This swift acquisition signals AI Squared’s commitment to leveraging bold decisions to empower organizations in enhancing business workflows with robust information integration solutions.
Enhancing Data Integration with Reverse ETL
Reverse ETL involves the process of extracting organized data from a data warehouse and seamlessly integrating it into various applications and tools utilized in daily business operations, such as sales, marketing, and advertising platforms. By incorporating Multiwoven’s rETL capabilities into its existing enterprise offering, AI Squared aims to enable organizations to efficiently integrate comprehensive data and AI insights into their business applications.
Commitment to Open Source and Technological Innovation
In addition to integrating Multiwoven’s technology into its enterprise platform, AI Squared is committed to supporting the active development of Multiwoven’s open-source technology. Multiwoven boasts the fastest-growing Connector ecosystem driven by the open-source community, highlighting AI Squared’s acknowledgment of the pivotal role that open-source initiatives play in propelling technological innovation forward.
Leadership Transition and Innovation
As part of the acquisition, the Multiwoven team, including its founders, will join AI Squared, assuming key leadership roles within the company. Sujoy Golan will serve as Chief Product Officer, Nagendra Dhanakeerthi as Chief Technology Officer, and Subin Thattaparambil as SVP of Engineering. Their expertise and innovations around data activation and integration are expected to drive significant advancements within AI Squared.
“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,” says Benjamin Harvey, Ph.D., AI Squared’s founder and CEO. “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.”
“We created Multiwoven to solve for the significant complexities around integrations and data movement that data teams grapple with when trying to use their own customer warehouse data for their business tools. 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,” says Sujoy Golan, Multiwoven’s Co-founder and CEO.
Looking Ahead
With the integration of Multiwoven’s capabilities and talent, AI Squared is poised to deliver enhanced solutions for data integration and AI-driven insights. To explore the transformative possibilities brought forth by the Multiwoven acquisition, interested parties can visit AI Squared’s website for more information.
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