AI Squared buys Multiwoven to accelerate delivery of data and AI insights into business applications

AI Squared, a technology provider for integrating information into web-based business applications, has acquired an open-source Reverse ETL (rETL) company, Multiwoven.

With this acquisition, AI Squared furthers its commitment to helping organizations simplify the movement of data and AI insights into business applications.

The acquisition of Multiwoven comes less than two weeks after AI Squared's nearly $14 million Series A funding round, which was led by ANSA Capital and NEA.

What is Reverse ETL?

Reverse ETL is the process of taking organized data from a data warehouse and moving it into applications and tools that businesses use daily, such as sales, marketing, and advertising platforms.

AI Squared will incorporate Multiwoven's rETL capabilities into its existing enterprise offering to help organizations integrate robust data and AI insights into business applications more efficiently, the company said in a release. 

Leadership changes

The Multiwoven team joins AI Squared as part of the acquisition, with Multiwoven's founders assuming leadership roles at the company.

Sujoy Golan will now serve as AI Squared's Chief Product Officer, Nagendra Dhanakeerthi will serve as Chief Technology Officer, and Subin Thattaparambil will serve as SVP of Engineering.

Supporting open-source technology development

Along with integrating Multiwoven's technology into its enterprise platform, AI Squared will continue to support active development of Multiwoven's open-source technology, which has the fastest growing Connector ecosystem driven by the open-source community. 

"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," said 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," Harvey said.