Meltwater has acquired UK-based Wrapidity, an artificial intelligence spin-out from Oxford University. No financial terms were disclosed. Meltwater is backed by Vector Capital and Silicon Valley Bank.
Meltwater, a global leader in media intelligence, is excited to announce the acquisition of Wrapidity Limited, an artificial intelligence (AI) spinout from Oxford University using breakthrough technology to automate data extraction from content on the web.
Wrapidity’s underlying technology will help Meltwater to improve and scale its industry-leading analytics software and address the volume of data coming from new sources as required for future product generations.
After evaluating over 20 companies globally in this space, the Meltwater team determined that Wrapidity is the strongest technology of its kind, complemented by an experienced engineering team led by co-founders Dr. Tim Furche, Dr. Giorgio Orsi and Dr. Giovanni Grasso.
Jorn Lyseggen, Founder and Chief Executive Officer (CEO) of Meltwater, said: “Data science, machine learning and artificial intelligence are areas of strategic importance for Meltwater. Today, we are all drowning in unstructured data, and Meltwater is putting the whole weight of our company behind research efforts to unlock insights buried in the large amount of disparate data types found online.”
“We are delighted that, despite stiff competition from a number of other suitors, we are able to bring Wrapidity and many years of research from Oxford University, one of the world’s premier research institutions within AI, into the Meltwater family,” Lyseggen said.
Georg Gottlob, Professor at the Oxford University Department of Computer Science and Co-Founder of Wrapidity, said: “Instant access to products, places, people and news has changed our lives in the last decade. The same access, but at a much larger scale, is now changing business in ways we can’t even imagine yet. At Wrapidity, we have responded to this by developing a completely new AI-based technology for extracting massive amounts of relevant data from millions of websites.”
Tim Furche, Lecturer at the Oxford University Department of Computer Science and Co-Founder and Chief Technology Officer (CTO) of Wrapidity, added: “Meltwater already monitors and analyses millions of articles per day across several languages. Combining Meltwater’s industry leadership and global footprint with Wrapidity’s advances in AI technology, we will be able to surface more accurate, timely and insightful content for Meltwater’s customers. Jorn and his team were visionaries in developing the software, services and business models to make such external web data usable for internal decision-making. We truly believe that companies of the future will hinge on Outside Insight, and we’re extremely excited to pursue this together.”
Wrapidity joins a growing number of recent acquisitions for the media intelligence pioneer as it continues to ramp up its technological offerings globally, with a focus on data science.
Meltwater helps companies make better, more informed decisions based on insights from the outside. More than 25,000 companies use the Meltwater media intelligence platform to stay on top of billions of online conversations, extract relevant insights, and use them to strategically manage their brand and stay ahead of their competition. With over 50 offices on six continents, Meltwater is dedicated to personal, global service built on local expertise. Meltwater also operates the Meltwater Entrepreneurial School of Technology (MEST), a nonprofit organization devoted to nurturing future generations of entrepreneurs. For more information, follow Meltwater on Twitter, Facebook, LinkedIn, YouTube, or visit www.meltwater.com.
Wrapidity helps businesses get the right data from the web, turning billions of webpages into a highly structured database of relevant data and enabling better search, recommendations and analytics for that business. Based on unique technology at the intersection of artificial intelligence, big data, and web technologies, Wrapidity specialises in collecting millions of records from hundreds of thousands of sources.