Oracle acquires DataFox, brings AI-based company data management to cloud apps

DataFox uses artificial intelligence to help clients gain an up-to-date view of customer accounts and organizations.

Oracle has announced plans to acquire data management and AI solutions provider DataFox.

Financial details were not disclosed.

Founded in 2013, San Francisco, CA-based DataFox is the developer of an artificial intelligence (AI)-based engine which automatically locates and pulls the most current information available on public and private businesses.

The engine currently manages the information of over 2.8 million companies, with 1.2 million being added on an annual basis.

Customers, including Goldman Sachs, Bain & Company and Twilio, use the platform for account management, lead generation, and to keep customer-relationship management (CRM) solutions current.

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On Monday, Oracle said the acquisition will merge DataFox technologies with Oracle Cloud Applications, giving customers an "extensive set of trusted company-level data and signals, enabling customers to reach even better decisions and business outcomes."

Former investors in DataFox include Goldman Sachs, StartX, and Green Visor Capital. The company raised a total of $11.8 million through four funding rounds.

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"Oracle's portfolio of cloud applications, including ERP, CX, HCM and SCM, and trusted third-party consumer data enable customers to reimagine their business with a complete, secure and connected cloud suite," Steve Miranda, Executive Vice President Applications Development at Oracle said in a prepared statement. "Together, Oracle and DataFox will enrich cloud applications with AI-driven company-level data, powering recommendations to elevate business performance across the enterprise."

It was only last week that Oracle announced plans to acquire goBalto, a cloud platform developer in the life science industry. The firm's technology is used to accelerate clinical drug trials at over 90,000 research sites worldwide.

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