Intel acquires data science startup Cnvrg.io
Intel Corp. reportedly has acquired Cnvrg.io, an Israeli data science startup that helps teams create and run machine learning models.
TechCrunch made the claim, though neither Intel nor Cnvrg.io has publicly confirmed the news as of the time of writing. TechCrunch did say Intel confirmed the deal. “Cnvrg will be an independent Intel company and will continue to serve its existing and future customers,” an Intel spokesperson told the news site.
Founded in 2016, Cnvrg.io offers a data science platform designed to assist enterprises to manage and scale up artificial intelligence. Its collaborative solution allows companies to accelerate innovation and build high-impact machine learning models, the company says.
Scaling machine learning development from research to production with an end-to-end solution is key to the company’s pitch that is designed to give data science teams all the tools they need in one place. In offering a data science platform for machine learning operations and model management, Cnvrg.io claims to be a pioneer in building cutting-edge machine learning development solutions that allows users to build high-impact machine learning models in half the time.
In a recent blog post, Cnvrg.io claimed to improve visibility and increase machine learning server utilization by up to 80%. The company’s dashboard is said to deliver a snapshot of everything executed across compute clusters in terms of usage and user activity. Cnvrg.io allows administrators to monitor and compare overall capacity against both allocation and utilization, with graphs to identify gaps in efficiency.
Cnvrg.io customers include Fortune 500 companies to startups. Partners include Red Hat Inc., Nvidia Corp. and NetApp Inc.
The acquisition comes after Intel acquired artificial intelligence startup SigOpt for an undisclosed sum Oct. 29. SigOpt offers a software platform that is used by private firms and research groups such as OpenAI to boost the performance of their AI models. Its platform improves model performance through a method known as hyperparameter optimization.
Coming into its acquisition, Cnvrg.io had raised $8 million in venture capital funding, according to Pitchbook. Investors included Hanaco Venture Capital, Jerusalem Venture Partners, Kevin Bermeister and Prashant Malik.
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