IBM on Monday stated that it has acquired Seek AI, an AI platform that enables customers to ask questions on enterprise knowledge utilizing pure language, for an undisclosed sum.
Seek CEO and founder Sarah Nagy stated that the startup’s expertise might be a key a part of Watsonx AI Labs, IBM’s new NYC-based AI accelerator, which IBM additionally introduced at the moment.
“[W]e’ll scale our platform, deploy mission-critical options for IBM purchasers, empower the following era of AI builders, and develop our crew considerably,” wrote Nagy in a LinkedIn publish.
IBM’s acquisition of Seek comes as the previous seems to develop its investments in AI, notably AI for the enterprise. It’s a method that’s labored nicely for IBM up to now. The tech big’s Q1 earnings beat estimates, pushed by software program progress and powerful AI demand.
NYC-based Seek, which Nagy based in 2021, presents an array of instruments designed to assist companies higher leverage their knowledge. The firm’s software program permits customers to work together with knowledge utilizing a chatbot-like interface, robotically translating pure language questions into database queries and performing high-level knowledge evaluation and summarization.
Prior to its exit, Seek AI managed to boost round $10 million from traders together with Battery Ventures, Conviction Partners, and NJP Ventures. The startup will transfer its headquarters to One Madison, the situation 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 acquire entry to world-class engineers and assets and construct new companies and functions,” IBM GM of Data and AI Ritika Gunnar stated in an announcement. “By anchoring this mission in New York City, 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 stated that Watsonx AI Labs will deliver collectively IBM researchers and engineers in a “collaborative hub” to construct AI options for corporations. Watsonx AI Labs will even 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.
