All the sessions from Transform 2021 are available on-demand now. Watch now.
Media intelligence company Meltwater announced today that it has acquired Cosmify, a San Francisco-based data analysis startup. The price of the acquisition has not been disclosed, but Meltwater told VentureBeat that it has bought the startup’s intellectual property (IP) and is bringing the Cosmify team onboard.
This is Meltwater’s fourth acquisition in nine months. The company has already acquired Hong Kong-based big data solution Klarity, Oxford University spinout Wrapidity, and Encore Alerts, a U.S.-based media monitoring company. It is about to close its fifth acquisition with Canada’s Infomart.
This string of acquisitions isn’t surprising in light of Meltwater’s unique business trajectory. Jorn Lyseggen founded the company in 2001 in Oslo, Norway, bootstrapping it with a $15,000 research grant from the Norwegian government. The founder and CEO never took a dime from VCs, fueling the company’s growth with talent instead. Today, Meltwater is headquartered in San Francisco and has 1,500 employees across 55 offices globally.
The company claims to have more than 25,000 customers, which include the George Washington University, the Denver Broncos, and the Apache Software Foundation.
The business initially focused on alerting companies about media mentions but has since expanded to include additional sources, such as social media, blogs, forums, and reviews. But Aditya Jami, Meltwater’s senior director of engineering and head of AI, says that this is only part of the data there is to track. According to him, extracting information from internal data lakes is just as key.
“That’s where Cosmify comes in,” he told VentureBeat. “It supports PDFs, spreadsheets, cloud drives, calendars, and more, and can therefore find interesting insights from other file types, no matter the format.”
Cosmify founder Eugene Ciurana launched his first machine learning company, Summly, in 2011 with cofounder Nick D’Aloisio and sold it to Yahoo for $30 million two years later. He then joined forces with cofounders Dr. Ana Nelson, Connor Goodwolf, and Sriram Krishnan to launch Cosmify in 2014. Bart Swanson of Horizons Ventures and MuleSoft founder Ross Mason are among Cosmify’s investors.
With the talent and IP Meltwater is ramping up, the “Google Slayer” is honing its edge over the search giant. “We are kind of like the Google Alerts on steroids,” said Jami. “Google Alerts only focuses on news. We also have social, premium content, print, radio, SEC filings, patents, trademarks…”
When asked whether the company is considering other acquisitions, Jami replied, “There are a couple of companies that are in the pipeline.”
VentureBeatVentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
- up-to-date information on the subjects of interest to you
- our newsletters
- gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
- networking features, and more