The tech giant plans to integrate MetaMind's technology into its products.
Salesforce has acquired artificial intelligence startup MetaMind, the companies revealed on Monday.
MetaMind, founded in 2014, uses an artificial intelligence technique called “deep learning” to help businesses crunch through data and make better decisions. Terms of the deal were not disclosed, but MetaMind’s service will shut down on May 4 for unpaid web users, and June 4 for monthly recurring users, the company said.
“With MetaMind and Salesforce CRM coming together, we’ll be able to offer customers real AI solutions with breakthrough capabilities that further automate and personalize customer support, marketing automation, and many other business processes,” wrote MetaMind co-founder and CEO Richard Socher in a blog post. “Salesforce plans to integrate MetaMind’s technology into Salesforce services,” he added.
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MetaMind’s technology and tools span natural language processing, computer vision, and database predictions.
MetaMind is only the latest startup working on artificial intelligence-related technology to be acquired by Salesforce. Last month, it acquired PredictionIO, and in the last two years, it has snapped up RelateIQ and smart calendar app Tempo AI. Other major companies like Microsoft and Google have also been investing considerable resources into developing deep learning and other artificial intelligence technologies and applications.
Prior to its acquisition, MetaMind had raised $8 million in total funding, including from Khosla Ventures and Marc Benioff, Salesforce’s co-founder and CEO.