IBM on Monday mentioned that it has acquired Search AI, an AI platform that enables customers to ask questions on enterprise knowledge utilizing pure language, for an undisclosed sum.
Search CEO and founder Sarah Nagy mentioned that the startup’s know-how shall be a key a part of Watsonx AI Labs, IBM’s new NYC-based AI accelerator, which IBM additionally introduced in the present day.
“[W]e’ll scale our platform, deploy mission-critical options for IBM purchasers, empower the following era of AI builders, and develop our group considerably,” Nagy wrote in a LinkedIn submit.
IBM’s acquisition of Search comes as the previous appears to be like to develop its investments in AI, significantly AI for the enterprise. It’s a method that’s labored properly for IBM to date. The tech big’s Q1 earnings beat estimates, pushed by software program progress and powerful AI demand.
NYC-based Search, which Nagy based in 2021, gives an array of instruments designed to assist companies higher leverage their knowledge. The corporate’s software program permits customers to work together with knowledge utilizing a chatbot-like interface, mechanically translating pure language questions into database queries and performing high-level knowledge evaluation and summarization.
Previous to its exit, Search AI managed to boost round $10 million from buyers, together with Battery Ventures, Conviction Companions, and NJP Ventures. The startup will transfer its headquarters to One Madison, the placement of Watsonx AI Labs and IBM’s new Manhattan workplaces, as soon as the deal closes.
“[W]atsonx AI Labs is the place one of the best AI builders achieve entry to world-class engineers and assets and construct new companies and functions,” IBM GM of Knowledge and AI Ritika Gunnar mentioned in a press release. “By anchoring this mission in New York Metropolis, we’re investing in a various, world‑class expertise pool and a vibrant group whose improvements have lengthy formed the tech panorama.”
In a press launch, IBM mentioned that Watsonx AI Labs will deliver collectively IBM researchers and engineers in a “collaborative hub” to construct AI options for corporations. Watsonx AI Labs may also search collaborations with native schools and analysis establishments.
Startups that efficiently launch merchandise on the accelerator could have entry to IBM assets in addition to potential funding from the corporate’s company VC wing, IBM Ventures, and its $500 million enterprise AI fund.
