US software giant, Salesforce, announced that it has signed a definitive agreement to acquire Israeli intelligence platform company Bonobo.ai. While the financial terms of the deal have not been disclosed yet, there have been reports stating the acquisition would be for $40 million to $50 million.
Founded in 2017 by Efrat Rapoport, Barak Goldstein, Idan Tsitiat and Ohad Hen, Bonobo.ai has assembled a team of alumni from IDF elite technological units specializing in AI. Bonob.ai’s 20 employees will join Salesforce’s Tel Aviv office. The company completed its seed funding round of $4.5 million six months ago, which was led by G20 Ventures with participation from Capri Ventures.
Bonobo.ai announced the acquisition saying:
Today we are beyond excited to announce that Salesforce, the global CRM leader, has signed a definitive agreement to acquire Bonobo AI.
Salesforce’s acquisition of Bonobo AI will allow us to expand upon on our vision — driving the Conversational Intelligence revolution and helping companies know their customers like never before.
With Bonobo AI, companies turn customer conversations into meaningful insights which power sales, customer satisfaction, and retention. Bonobo AI enables companies to analyze customer interactions, empowering sales teams to spot trends, improve conversations and drive customer success.
Bonobo AI will enhance the power of Salesforce Sales Cloud by leveraging conversational intelligence within the Salesforce Platform, allowing companies to utilize one of their most valuable sources of data – customer interactions.
We would like to deeply thank our employees, customers, investors, and everyone that contributed to our success. We are thrilled to become part of the amazing Salesforce family and continue to the next phase of our journey.
The Bonobo team