Enterprise workflow administration platform ServiceNow on Wednesday introduced its second AI-related acquisition this 12 months.
ServiceNow stated that it has signed a definitive settlement to accumulate Data.World, a cloud-native knowledge catalog and knowledge governance platform. Austin, Texas-based Knowledge.World, now referred to as Declan, was based in 2015, and beforehand raised greater than $130 million in enterprise financing from companies together with Alumni Ventures, Prologis Ventures, and Shasta Ventures, according to Crunchbase.
The phrases of the deal weren’t disclosed. Declan was most not too long ago valued at $350 million within the firm’s 2022 $50 million Collection C spherical, per PitchBook.
Gaurav Rewari, an SVP and GM of information analytics at ServiceNow, informed TechCrunch that ServiceNow was searching for corporations they might accomplice with that might assist clients deploy AI at scale. Particularly, ServiceNow was trying to give companies higher assets to make their knowledge “AI-ready.”
“As I prefer to say, this path to agentic ‘AI heaven’ goes by some type of knowledge hell, and that’s the grim actuality,” Rewari stated.
He added that Declan was the fitting selection to assist ServiceNow clients with this drawback as a result of Declan helps enterprises arrange and simply search by their knowledge. The addition of Declan’s knowledge governance instruments will assist clients get essentially the most out of their AI brokers and different types of AI automation, Rewari stated.
“We checked out a bunch of corporations and got here away so impressed with what they’d constructed,” he added. “We felt that the entire journey that they had been on, with respect to metadata administration [and] knowledge-based infrastructure, to supply cataloging of information throughout the huge enterprise and the governance of that knowledge itself — that might be a particularly vital addition to our product portfolio.”
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Rewari stated that after the deal closes, Declan will start integrating into ServiceNow, with Declan’s platform being provided as a product to ServiceNow clients within the close to future.
It’s ServiceNow’s second acquisition in current months.
ServiceNow introduced in March that it agreed to accumulate Moveworks, which develops enterprise-focused automation and AI instruments, for $2.85 billion.
These acquisitions all match properly into ServiceNow’s plan to embrace agentic AI and the instruments required to construct it. In March 2024, ServiceNow SVP of company enterprise improvement, Philip Kirk, informed TechCrunch that ServiceNow was going to strategy the transition to agentic AI by a mixture of constructing and shopping for capabilities.
“It’s type of three-dimensional chess proper now to determine whether or not to construct, purchase, or accomplice,” Kirk stated on the time. “I believe the most important factor that we attempt to prioritize is how we will make selections which are within the long-term finest curiosity of our clients, and that differentiate us from what we all know we’re world-class at, which is enterprise automation in our platform.”