Enterprise workflow administration platform ServiceNow on Wednesday introduced its second AI-related acquisition this 12 months.
ServiceNow mentioned that it has signed a definitive settlement to amass Data.World, a cloud-native information catalog and information governance platform. Austin, Texas-based Data.World was based in 2015, and beforehand raised greater than $130 million in enterprise financing from companies equivalent to Alumni Ventures, Prologis Ventures, and Shasta Ventures, in accordance with Crunchbase.
The phrases of the deal weren’t disclosed. Data.World was most just lately valued at $350 million within the firm’s 2022 $50 million Series C spherical, per PitchBook.
Gaurav Rewari, an SVP and GM of information analytics at ServiceNow, informed TechCrunch that ServiceNow was on the lookout for corporations they may associate with that might assist prospects deploy AI at scale. Specifically, ServiceNow was seeking to give companies higher assets to make their information “AI-ready.”
“As I wish to say, this path to agentic ‘AI heaven’ goes by some type of information hell, and that’s the grim actuality,” Rewari mentioned.
He added that Data.World was the appropriate alternative to assist ServiceNow prospects with this downside as a result of Data.World helps enterprises arrange and simply search by their information. The addition of Data.World’s information governance instruments will assist prospects get essentially the most out of their AI brokers and different types of AI automation, Rewari mentioned.
“We checked out a bunch of corporations and got here away so impressed with what that they had constructed,” he added. “We felt that the entire journey that they had been on, with respect to metadata administration [and] knowledge-based infrastructure, to offer cataloging of information throughout the huge enterprise and the governance of that information itself — that might be an especially necessary addition to our product portfolio.”
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Rewari mentioned that when the deal closes, Data.World will start integrating into ServiceNow, with Data.World’s platform being supplied as a product to ServiceNow prospects within the close to future.
It’s ServiceNow’s second acquisition in latest months.
ServiceNow introduced in March that it agreed to amass Moveworks, which develops enterprise-focused automation and AI instruments, for $2.85 billion.
These acquisitions all match properly into ServiceNow’s plan to embrace agentic AI and the instruments required to construct it. In March 2024, ServiceNow SVP of company enterprise growth, Philip Kirk, informed TechCrunch that ServiceNow was going to strategy the transition to agentic AI by a mixture of constructing and shopping for capabilities.
“It is type of three-dimensional chess proper now to determine whether or not to construct, purchase, or associate,” Kirk mentioned on the time. “I feel the largest factor that we attempt to prioritize is how we will make selections which might be within the long-term greatest curiosity of our prospects, and that differentiate us from what we all know we’re world-class at, which is enterprise automation in our platform.”
Updated 10:09 a.m. Pacific: An earlier model of this text referred to Data.World as “Declan.” ServiceNow offered TechCrunch with a weblog submit that used this identify, which a spokesperson later mentioned is inside product nomenclature and shouldn’t have been printed. We remorse the error.
