Salesforce acquires BeyondCore, aims to boost analytics
In a bet to advance its software and cloud offerings, Salesforce has signed an agreement to acquire San Mateo, California-based BeyondCore, a business intelligence (BI) and analytics platform that delivers automated business analytics solutions to companies. The acquisition was made public by Arijit Sengupta, CEO, BeyondCore, in a company blog post. However, purchase price and legal aspects of the deal remain undisclosed.
Sengupta said:
While BeyondCore uses smart pattern discovery technology to offer business insights, it hopes to expand on its advanced analytics at Salesforce cloud, post-acquisition. According to the website, BeyondCore automatically analyzes data from databases, Hadoop or CSVs, using Descriptive, Diagnostic, Predictive and Prescriptive Analytics for statistically significant insights. It claims to leverage on the power of data analytics and machine learning and is based on ten years of R&D, backed up by over 20 issued and pending patents, claimed the company.
In total, BeyondCore states to have raised $8.9 million from venture capital firm, Menlo Ventures. It also boasts of being used by 23 of the Fortune 500 companies to solve a wide variety of analytic problems. This is Salesforce’s fourth acquisition since June. Earlier, it acquired a collaborative productivity software suite, Quip for $750 million. In the business intelligence and machine learning domain, it acquired startups including Tempo AI and Coolan. However, the CRM company’s biggest buy has been the $2.8 billion June purchase of online retail software maker Demandware.
Commenting on the occasion, Marc Benioff, Chairman and CEO, Salesforce, took to twitter and wrote:
At Salesforce, BeyondCore will be uniquely positioned to further magnify our impact on the world of analytics as part of the Analytics Cloud, extending smart data discovery and advanced analytics capabilities across the entire Salesforce Customer Success Platform. Of course, we’ll continue to deliver our innovative technology to customers as part of Salesforce and deliver the same great service you’ve come to expect from us.Earlier at the Gartner BI and Analytics Summit, he added, “we decided to show off our integration into Salesforce, which would be part of our upcoming BeyondCore 7 release.” This integration dates back to a time where beyondCore just had a plug-in to the Salesforce cloud.
While BeyondCore uses smart pattern discovery technology to offer business insights, it hopes to expand on its advanced analytics at Salesforce cloud, post-acquisition. According to the website, BeyondCore automatically analyzes data from databases, Hadoop or CSVs, using Descriptive, Diagnostic, Predictive and Prescriptive Analytics for statistically significant insights. It claims to leverage on the power of data analytics and machine learning and is based on ten years of R&D, backed up by over 20 issued and pending patents, claimed the company.
In total, BeyondCore states to have raised $8.9 million from venture capital firm, Menlo Ventures. It also boasts of being used by 23 of the Fortune 500 companies to solve a wide variety of analytic problems. This is Salesforce’s fourth acquisition since June. Earlier, it acquired a collaborative productivity software suite, Quip for $750 million. In the business intelligence and machine learning domain, it acquired startups including Tempo AI and Coolan. However, the CRM company’s biggest buy has been the $2.8 billion June purchase of online retail software maker Demandware.
Commenting on the occasion, Marc Benioff, Chairman and CEO, Salesforce, took to twitter and wrote:
I am thrilled announce @Salesforce has acquired @beyondcoreinc to enhance the AI capabilities of Analytics Cloud. https://t.co/9n4nuYZHtl
— Marc Benioff (@Benioff) August 15, 2016