- Robert Galbraith/ Reuters
Salesforce is reported to have scooped up another data-intelligence startup on Monday, as the cloud-software maker continues its buying spree this year.
According to Dow Jones Business News, Salesforce just acquired a data-automation startup called Implisit Insights for “tens of millions” of dollars, citing people familiar with the matter. Implisit, based in Israel, has raised $3.3 million in funding so far, according to CrunchBase.
Salesforce declined to comment on the deal.
Implisit Insights is a software maker that helps sales people make faster and better decisions based on the data stored in its customer database. It could predict the best possible deals and identify those most at risk of losing, while providing recommended actions to improve the sales process, according to its website.
Its cofounders have an interesting background, too. Elad Donsky, now its CTO, started college at 15, while Gilad Raichshtain, now its CEO, started working at Intel when he was 16, becoming its youngest engineer at the time.
Salesforce has been accelerating its pace of deal-making this year. Implisit would be its third acquisition of 2016, following the purchase of two other data-intelligence startups: PredictionIO and MetaMind. It’s worth noting that Salesforce made five deals in all of last year, while only one acquisition the year before that. Salesforce has roughly $2.7 billion in cash and cash equivalents, based on its latest filings.
Data-driven software and analytics have been a major area of focus for Salesforce lately. Most of its acquisitions over the past two years have been on startups in the data analysis and prediction space, while its two major product launches last year, SalesforceIQ and IoT Cloud, are intended to make Salesforce a smarter and more predictive software.
Salesforce CEO Marc Benioff said at a recent conference:
This will be the huge shift going forward, which is that everybody wants systems that are smarter, everybody wants systems that are more predictive, everybody wants everything scored, everybody wants to understand what’s the next best offer, next best opportunity, how to make things a little bit more efficient.