DataFox, a ‘predictive intelligence service’ across millions of companies, got acquired by Oracle
Oracle announced that it is buying DataFox (TSVC Fund II Portfolio Company), a startup that has amassed a huge company database — currently covering 2.8 million public and private businesses, adding 1.2 million each year — and uses AI to analyse that to make larger business predictions. This acquisition helps Oracle enhance both the kind of data that it can provide to its business customers and its artificial intelligence capabilities. The business intelligence resulting from that service can in turn be used for a range of CRM-related services: prioritising sales accounts, finding leads, and so on.
“The combination of Oracle and DataFox will enhance Oracle Cloud Applications with an extensive set of AI-derived company-level data and signals, enabling customers to reach even better decisions and business outcomes,” noted Steve Miranda, EVP of applications development at Oracle, in a note to DataFox customers announcing the deal. He said that DataFox will sit among Oracle’s existing portfolio of business planning services like ERP, CX, HCM and SCM. “Together, Oracle and DataFox will enrich cloud applications with AI-driven company-level data, powering recommendations to elevate business performance across the enterprise.”
DataFox had raised just under $19 million and was last valued at $33 million back in January 2017. Investors in the company included Slack, GV, Howard Linzon, and strategic investor Goldman Sachs. TSVC invested in Datafox’s Seed Round back in 2013.