Cisco is buying enterprise intelligence startup Accompany for $270M – TechCrunch
Cisco simply introduced an settlement to accumulate Accompany, which makes use of synthetic intelligence to construct databases of individuals and relationships at firms.
Founder and CEO Amy Chang has in contrast the product to a digital chief of employees or private assistant, giving executives the context they want earlier than conversations and conferences. Cisco plans to include Accompany know-how into its collaboration merchandise, for instance by introducing firm and particular person profiles into Webex conferences.
Cisco says it’s going to pay $270 million in money and inventory within the deal.
The corporate most likely didn’t have to look too arduous to search out Accompany, since Chang (who beforehand served as the pinnacle of product for Google’s advert measurement and reporting) has been on Cisco’s board of administrators since October 2016. As a part of the transaction, she’s resigning from the board, efficient instantly.
As well as, Chang shall be taking on the corporate’s Collaboration Know-how Group. Rowan Trollope, who at the moment leads the collaboration group, is departing to change into CEO at cloud software program firm Five9.
“Amy has proven to be an effective and innovative leader through her years as an entrepreneur, an engineer, and CEO, and I couldn’t be more pleased to have her and the Accompany team join Cisco,” stated Cisco chairman and CEO Chuck Robbins within the announcement. “Together, we have a tremendous opportunity to further enhance AI and machine learning capabilities in our collaboration portfolio and continue to create amazing collaboration experiences for customers.”
Based on Crunchbase, Accompany has raised round $40 million in funding from traders together with CRV, Cowboy Ventures, Iconiq Capital and Ignition Companions.
Cisco additionally introduced at this time that it’s promoting off a few of its NDS video property.