Largest cloud platform Oracle, today has announced in a report that they have acquired the DataFox, which is a startup that has a huge company database, and is currently covering the 2.8 million public and private business, by adding around 1.2 Million each year, and uses the principles of Artificial Intelligence to make the larger business predictions.
“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 would 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.”
The company officials have not disclosed the deal as of now. DataFoz which is launched in the year 2014 in January has raised around $19 Million and was valued at $33 Million in the previous year according to the report. The investors include the Slack, Howard Linzon, SV and Goldman Sachs.
Oracle said in a report that it is not committing to a specific product of roadmap for the DataFox longer term, but as of now, it will keep the product going just like for already customers. The company has a huge base of clients which include the Bain and Company, Goldman Sachs and Twilio among others using its services.
The company also said that although both the companies had evolved quite a bit, and there are many other alternatives as well in the market, Oracle is still in competition with the SalesForce for their customers and are hoping to woo and keep more of them with the better, latest innovative technologies. That also points to Oracle potentially cross and up-selling people who come to them by way of DataFox, which is a SaaS that pitches itself very much as something anyone can subscribe to online.
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