The AI integration platform AI Squared, a top technology provider for integrating information into web-based business apps, announces its acquisition of Multiwoven, the world’s leading open-source Reverse ETL (rETL) company. This move underscores AI Squared’s dedication to simplifying data and AI insights integration into business apps.
The acquisition follows AI Squared’s recent $14 million Series A funding round, led by ANSA Capital and NEA, signaling the company’s commitment to facilitating business workflows with robust data.
Reverse ETL involves transferring organized data from a data warehouse into everyday business tools like sales, marketing, and advertising platforms. The AI integration platform AI Squared will integrate Multiwoven’s rETL capabilities into its enterprise offering, enhancing data and AI integration efficiency.
In addition to incorporating Multiwoven’s tech into its platform, AI Squared will support the ongoing development of Multiwoven’s open-source technology, which boasts the fastest-growing Connector ecosystem. This highlights AI Squared’s acknowledgment of open-source’s vital role in driving innovation.
The Multiwoven team joins AI Squared with its founders assuming key leadership positions. Sujoy Golan becomes Chief Product Officer, Nagendra Dhanakeerthi as Chief Technology Officer, and Subin Thattaparambil as SVP of Engineering.
“From my experiences as a data-science executive at the National Security Agency and as an early employee at Databricks, I recognize and respect the critical role that the open-source community plays in fueling innovation,” says Benjamin Harvey, Ph.D., AI Squared’s founder and CEO. “Now as a singular organization, AI Squared and Multiwoven will continue to lead the way in open-source rETL, while simultaneously bringing critical data-movement functionality to our customers.”
“We created Multiwoven to solve for the significant complexities around integrations and data movement that data teams grapple with when trying to use their own customer warehouse data for their business tools. With our new combined team, we will be able to accelerate the development and growth of Multiwoven open-source, which will remain free to use. We are also excited to now introduce advanced capabilities to activate AI/ML data, together with AI Squared,” says Sujoy Golan, Multiwoven’s Co-founder and CEO.
