ServiceNow Acquires Data.World After Recent Moveworks Deal
▼ Summary
– ServiceNow announced its acquisition of Data.World, a cloud-native data catalog and governance platform, marking its second AI-related acquisition this year.
– Data.World, founded in 2015 and valued at $350 million in 2022, helps enterprises organize and search their data to make it “AI-ready.”
– The acquisition aims to enhance ServiceNow’s AI capabilities by integrating Data.World’s data governance tools into its platform for customers.
– This follows ServiceNow’s March 2024 acquisition of Moveworks, an AI automation tool provider, for $2.85 billion, aligning with its agentic AI strategy.
– ServiceNow plans to integrate Data.World’s platform into its offerings, emphasizing a mix of building, buying, and partnering to advance enterprise automation.
ServiceNow has made another strategic move in the AI space with its acquisition of Data.World, marking the company’s second major purchase this year focused on artificial intelligence and data management. The deal, announced Wednesday, brings a powerful cloud-native data catalog and governance platform into ServiceNow’s expanding portfolio.
The Austin-based startup, founded in 2015, had previously secured over $130 million in venture funding from prominent investors. While financial terms remain undisclosed, Data.World’s most recent valuation stood at $350 million following its 2022 Series C round. This acquisition follows ServiceNow’s $2.85 billion purchase of Moveworks in March, demonstrating the company’s aggressive push into AI-powered enterprise solutions.
Gaurav Rewari, ServiceNow’s SVP of data analytics, explained the strategic thinking behind the acquisition. “The path to effective AI implementation often begins with solving complex data challenges,” he noted. The company specifically sought technology that could help organizations prepare their data infrastructure for AI deployment at scale. Data.World’s platform stood out for its ability to organize enterprise data and enable efficient search capabilities, addressing what Rewari described as the “data hell” many companies face when implementing AI solutions.
ServiceNow’s leadership emphasized how Data.World’s metadata management and knowledge infrastructure capabilities would complement their existing offerings. The integration will provide customers with enhanced tools for data cataloging and governance across large organizations, ultimately improving the performance of AI agents and automation systems.
The acquisition aligns with ServiceNow’s broader strategy of combining internal development with strategic purchases to advance its AI capabilities. As Philip Kirk, ServiceNow’s SVP of corporate business development, previously stated, the company takes a measured approach to deciding whether to build, buy, or partner – always prioritizing long-term customer value and enterprise automation leadership.
Following regulatory approval, Data.World’s technology will be incorporated into ServiceNow’s platform and made available to customers. This move strengthens ServiceNow’s position in the competitive enterprise software market, where AI readiness and data management have become critical differentiators for businesses undergoing digital transformation.
(Source: TechCrunch)
