Zoom.ai has announced the acquisition of SimplyInsight, an automated data analysis and visualization startup.
SimplyInsight’s platform integrates data from a wide-range of sources that’s ready to be analyzed by a built-in data bot. Employees can ask questions in natural language through a chat-like feature that’s answered through simple data visualizations. The software serves up once-hidden insights in minutes, from sales forecasting to revenue prediction.
While the Toronto-based Zoom.ai’s virtual assistant was built to perform routine yet necessary administrative tasks, the acquisition means the company can enhance their natural language processing capabilities by integrating SimplyInsight’s data-querying technology.
“The future of AI lies in leveraging that technology to boost the quality of human engagement,” said Zoom.ai CEO Roy Pereira in a release. “This acquisition will help to add a deeper, data-centric element to our product to better serve and address the growing demands of the modern enterprise.”
Zoom.ai reports that active users have gained 14 per cent productivity using its virtual assistant, saving them roughly 25 hours per month.
As part of the acquisition, SimplyInsight founders Amanda Parker and Alexey Adamsky are joining the Zoom.ai team; Parker as VP of business development and partnerships, and Adamsky as senior AI scientist.
“Both Zoom.ai and SimplyInsight share a passion for changing the core of how organizations manage work and address employee efficiency,” said Parker. “This is a natural fit. We are excited to join such a dynamic team where we can collaborate on our aligned mission of improving and creating impact in the everyday workplace.”
Zoom.ai had a lucrative summer, securing $2.1 million in seed funding this June and winning $100,000 at the OpenText pitch competition the following month.