HubSpot announced on Tuesday it has acquired Kemvi, a San Francisco-based startup that uses machine learning and artificial intelligence to help sales teams.
Founded in 2014 by Marco Lagi and Vedant Misra, Kemvi announced only back in May that it had raised a $1 million seed round from HubSpot co-founder Dharmesh Shah, fellow Boston founders Jit Saxena and Rob May, as well as a number of other investors.
Financial terms of the acquisition were not disclosed in HubSpot's announcement. Misra and Lagi, Kemvi's two employees, will join HubSpot's engineering team.
Kemvi is HubSpot's seventh acquisition. Other companies acquired by the Cambridge marketing and sales tech company include Rekindle, Chime and Performable. Earlier this year, the company began investing in startups as a way to partner more closely with companies and build itself out into more of a platform for sales and marketing needs.
"Kemvi's DeepGraph technology gives salespeople that added boost to better connect with their prospects."
Kemvi has developed a proprietary algorithm called DeepGraph that helps sales teams develop better relationships with prospective buyers. It does this by sifting through millions of web pages every day about buyers and prospects and uses the information to help sales teams identify new leads and market segments, as well as provide recommendations for creating personalized emails. It also serves as a knowledge graph, which connects various data sources to provide more contextual information about buyers, markets and products.
As part of the acquisition, DeepGraph will be incorporated into HubSpot's customer relationship management software.
"Kemvi's DeepGraph technology gives salespeople that added boost to better connect with their prospects and close the deal without getting bogged down in time-consuming tasks," Brian Halligan, HubSpot's CEO and co-founder, said in a statement.
HubSpot's stock price was $75.45 at market close on Monday, giving the company a $2.75 billion market capitalization.
