Salesforce acquires AI startup MetaMind
Machine fancier founder comes in as Chief Scientist
Salesforce.com has confirmed it has acquired AI startup MetaMind on undisclosed terms.
MetaMind focuses on developing deep learning technology "to simplify, improve and automate decision making" for businesses. It was founded by Richard Socher in mid 2014, following a PhD at Stanford. Socher now describes himself as Chief Scientist at Salesforce.
The company received $8m in initial funding from Khosla Ventures and Salesforce's Marc Benioff in December 2014. Earlier that year the company had acquired another CRM predictive analytics startup called RelateIQ, which was folded into its own operations.
According to MetaMind's announcement, Salesforce plans to integrate its technology into the CRM giant's services. MetaMind has informed its existing customers that its products will be discontinued at different times.
Unpaid web users will need to transition by May 4, while monthly recurring users have until June 4. MetaMind stated: "We'll delete any data we have stored for unpaid web users and monthly recurring users promptly after close."
While Salesforce has confirmed the deal to the press, it has not shared any details about its intentions for MetaMind. ®