The performance management company Anaplan, Inc has reportedly entered into an agreement to buy Israeli predictive analytics company Mintigo, Inc.
Anaplan made the move to bring aboard Mintigo’s talent in data science and machine learning automation. This was expected to enhance the predictive capabilities of Anaplan’s own solutions.
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Mintigo had hit the market with an online predictive analytics platform which became immensely popular. The solution uses Big data, AI and predictive analytics to boost businesses. It basically helps the sales and marketing wings of clientele to understand and retain their customers.
Mintigo founded in 2009 by Dr. Jacob Shama, Tal Segalov and Ehud Ben-Reuven had raised $51 million in equity till date. The investors in Mintigo include Glilot Capital Partners, JAL ventures limited, Giza Venture Capital, Maverick Ventures Sequoia Capital IL, Adams Street Partners, La Maison and Vintage Investment Partners.
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It has been widely reported earlier that the NYSE listed Anaplan was massively investing in AI and predictive tools. The plans to acquire Mintigo was revealed during a Q2 Fiscal 2020 earnings conference call, reports say. In the current October quarter, Anaplan forecast revenue of $86 million.
Mary Shea, a Principal Analyst at Forrester observed that the plan could be to incorporate Mintigo’s predictive capability into Anaplan’s business and scenario planning software.
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