MetaMind’s services will shut down June 4 as Benioff gobbles up deep learning technology to boost Salesforce services with artificial intelligence
Salesforce has acquired a deep learning startup that was founded just two years ago in July 2014.
MetaMind, based in Palo Alto, creates deep learning technology that helps “simplify, improve and automate” decision making, the company writes on its website.
Terms of the deal were not disclosed. TechWeekEurope has contacted Salesforce for comment.
MetaMind CEO Richard Socher announced his firm’s acquisition on a blog post, where he outlined Salesforce’s plans for deep learning and artificial intelligence.
“Salesforce plans to integrate MetaMind’s technology into Salesforce services,” he wrote.
“With MetaMind and Salesforce coming together, we’ll be able to offer customers real AI solutions with breakthrough capabilities that further automate and personalize customer support, marketing automation, and many other business processes. We’ll extend Salesforce’s data science capabilities by embedding deep learning within the Salesforce platform.”
Salesforce CEO Marc Benioff has himself been a large backer of MetaMind, a portion of the $8m the company has raised so far coming from him.
Salesforce is the latest service provider to make acquisitions in the deep learning market. Facebook, Google, and Microsoft have all invested millions of pounds this year on artificial intelligent services. In February, Salesforce acquired machine learning startup PredictionIO.
MetaMind itself claims it is just behind Google when it comes to the world’s best deep learning technology.
Unfortunately for MetaMind’s current web users who use the company’s software for free, Saleforce will be cutting off service on May 4. Then, one month later on June 4, MetaMind’s entire product line will be discontinued as Salesforce takes charge.
“We’ll delete any data we have stored for unpaid web users and monthly recurring users promptly after close,” wrote Socher.
“We plan to continue our AI research, so you’ll continue to see us publish groundbreaking discoveries that advance our deep learning platform’s accuracy and capabilities.”