Salesforce.com is making a sizable big data investment, with news that the CRM giant will acquire RelateIQ.
According to a document filed Friday with the Securities and Exchange Commission, Salesforce will pay up to $390 million for the Palo Alto, California-based startup, which provides relationship intelligence via data science and machine learning. RelateIQ will become a Salesforce subsidiary, the filing says.
On its website, RelateIQ says it's built "the world's first Relationship Intelligence platform" that redefines the world of CRM. In a nutshell, the platform captures sales data from email, calendars and smartphone calls and social media to provide insights in real time.
Since its founding in 2011, the company managed to raise $69 million in venture capital, with $40 million in Series C finalized just this March.
RelateIQ co-founder Steve Loughlin wrote on the company blog:
We believe this offers our customers the best of both worlds. Salesforce.com pioneered the shift to enterprise cloud computing, redefining modern CRM as we know it. As you know, RelateIQ is pioneering the next generation of intelligent computing through data science and machine learning. Looking ahead, salesforce.com’s acquisition of RelateIQ will extend the value of salesforce.com’s #1 CRM apps and platform with a new level of intelligence across sales, service, and marketing.
The acquisition is a notable one for Salesforce, with it ranking as the company’s second largest to date behind last year's.