AI Squared Inc., a D.C. startup that works with businesses to ensure artificial intelligence tools are effectively used and maintained, has acquired Multiwoven Inc., a Mountain View, California-based tech firm.
It's the first acquisition for the local company and comes just weeks after AI Squared closed a $13.8 million Series A funding round. Terms were not disclosed.
All eight Multiwoven employees are expected to join AI Squared, two of whom — Chief Product Officer Sujoy Golan and Chief Technology Officer Nagendra Dhanakeerthi — are relocating to Greater Washington to guide efforts for the downtown-based startup.
The acquisition increases the startup's 30-person headcount by about 25%, which founder and CEO Benjamin Harvey told me in April is likely to double over the next 12 to 18 months. He said he isn't expecting the startup to make any other acquisitions any time soon.
AI Squared was founded in 2021 and was one of DC Inno's Startups to Watch in 2023 and an Inno on Fire honoree in 2022.
By acquiring Multiwoven, AI Squared is positioning itself as a larger provider for organizations looking to implement AI insights into business applications. Multiwoven provides open-source reverse ETL services, which can extract large troves of information that customers store in data centers. That allows these organizations to securely send this data to other service providers like those offered from Salesforce or Google Analytics.
"[This acquisition] enables us to provide our customers end-to-end support from data management to AI adoption, with enhanced functionality," Harvey told me in an email statement.
