IBM has acquired Seek AI, an enterprise-focused AI platform that lets users query data through natural language. The deal amount wasn’t disclosed.
Seek’s technology will power IBM’s new NYC-based initiative, Watsonx AI Labs. CEO Sarah Nagy stated the tech will accelerate IBM’s efforts in AI, allowing them to develop mission-critical solutions for clients and expand their team significantly.
“We’ll scale our platform, deploy mission-critical solutions for IBM clients, empower the next generation of AI developers, and grow our team significantly,” Nagy wrote in a LinkedIn post.
IBM’s acquisition aligns with its growing investment in AI, specifically for enterprises. Their Q1 earnings exceeded expectations, backed by robust software growth and AI demand.
Located in NYC, Seek AI offers tools for businesses to interact with data using a chatbot-like interface. This allows for seamless natural language queries and high-level data analysis.
Before the acquisition, Seek raised around $10 million from investors like Battery Ventures and Conviction Partners. Post-deal, Seek will move its headquarters to One Madison, home of Watsonx AI Labs.
“[Watsonx AI Labs is where the best AI developers gain access to world-class engineers and resources and build new businesses and applications,” said IBM GM of Data and AI Ritika Gunnar. “By anchoring this mission in New York City, we are investing in a diverse, world-class talent pool and a vibrant community whose innovations have long shaped the tech landscape.”
IBM stated that Watsonx AI Labs will create a “collaborative hub” for researchers and engineers to develop AI solutions. The initiative aims to collaborate with local colleges and research institutions as well.
Startups participating in the accelerator will have access to IBM’s resources and potential investment from IBM Ventures and its $500 million enterprise AI fund.
