Iguazio, an Israeli startup that deals with AI and machine learning, has been acquired by Global management consulting firm McKinsey & Company. McKinsey said the acquisition will allow it to be able to dramatically accelerate and scale AI deployments, driving further impact for clients. While the terms of the deal have not yet been released, Calcalist estimates that it could be worth as much as $100 million.
Founded in 2014 by CEO Asaf Somekh, CTO Yaron Haviv, COO Yaron Segev, and VP Architecture Orit Nissan-Messing, Iguazio provides a Data Science Platform to automate machine learning pipelines. The company boasts that its platform accelerates the development, deployment and management of AI applications at scale, enabling data scientists to focus on delivering better, more accurate and more powerful solutions instead of spending their time on infrastructure. The platform is open and deployable anywhere – multi-cloud, on prem or edge. Iguazio powers real-time data science applications for financial services, healthcare, media and entertainment, retail, manufacturing, smart mobility and telecoms. Backed by top financial and strategic VCs including Bosch, Verizon Ventures, Samsung SDS, CME Group and Dell, the company is led by serial entrepreneurs and a diverse team of seasoned innovators in the USA, UK, Singapore and Israel.
The Iguazio MLOps Platform transforms AI projects into real-world business outcomes. Accelerate and scale development, deployment and management of your AI applications with end-to-end automation of machine (and deep) learning pipelines.
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“After analyzing more than 1,000 AI companies worldwide, Iguazio was identified as the best fit to help us significantly accelerate our AI offering – from the initial concept to production, in a simplified, scalable and automated manner,” said Ben Ellencweig, McKinsey senior partner and QuantumBlack global leader of alliances and acquisitions. “By joining forces with Iguazio, we can now deepen the unparalleled, disruptive, end-to-end AI capabilities we offer to our clients.”
“We are committed to unlocking the full potential of AI to help clients drive sustainable, inclusive growth. Today, as 90 percent of AI projects remain in the lab, there is a big opportunity,” said Alexander Sukharevsky, senior partner and global co-leader of QuantumBlack. “By combining Iguazio and QuantumBlack, we have now deepened the end-to-end offering that will allow us to embed AI in every important step of decision making in real time.”
“McKinsey’s experience and QuantumBlack’s technology stack and expertise, now coupled with Iguazio, is the ultimate solution for enterprises looking to scale AI initiatives in a way that directly impacts their bottom line,” said Iguazio co-founder and CEO Asaf Somekh. “We are already serving over 20 customers globally such as financial institutions, airlines, airports, and environmental companies in the US, Asia, and Europe.”