Cisco is buying enterprise intelligence startup Accompany for $270M – TechCrunch


Cisco simply introduced an settlement to amass Accompany, which makes use of synthetic intelligence to construct databases of individuals and relationships at corporations.

Founder and CEO Amy Chang has in contrast the product to a digital chief of workers or private assistant, giving executives the context they want earlier than conversations and conferences. Cisco plans to include Accompany expertise into its collaboration merchandise, for instance by introducing firm and particular person profiles into Webex conferences.

Cisco says it should pay $270 million in money and inventory within the deal.

The corporate most likely didn’t have to go looking too arduous to search out Accompany, since Chang (who beforehand served as the top of product for Google’s advert measurement and reporting) has been on Cisco’s board of administrators since October 2016. As a part of the transaction, she’s resigning from the board, efficient instantly.

As well as, Chang can be taking up the corporate’s Collaboration Expertise Group. Rowan Trollope, who at the moment leads the collaboration group, is departing to develop into CEO at cloud software program firm Five9.

“Amy has confirmed to be an efficient and modern chief by means of her years as an entrepreneur, an engineer, and CEO, and I couldn’t be extra happy to have her and the Accompany group be part of Cisco,” stated Cisco chairman and CEO Chuck Robbins within the announcement. “Collectively, now we have an incredible alternative to additional improve AI and machine studying capabilities in our collaboration portfolio and proceed to create superb collaboration experiences for patrons.”

Based on Crunchbase, Accompany has raised round $40 million in funding from buyers together with CRV, Cowboy Ventures, Iconiq Capital and Ignition Companions.

Cisco additionally introduced at the moment that it’s promoting off a few of its NDS video belongings.

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