Texas private equity company, Scaleworks, concentrating on software startups, has proudly announced the acquisition of Keen IO. Keen IO is a startup based on data analytics software intended for developers. The terms of the deal are still secretive, which happened earlier this week.
The year of 2017 has been a record breaking year for Scaleworks, as they have moved forward with Chargify, Earth Class Mail, Assembla, Filestack, Followup and Qualaroo. They also have a new 20,000 square foot headquarters in San Antonio.
Keen IO has gathered nearly $30 million in venture capital, and during 2014, protruding firm, Sequoia Capital, directed an $11.3 million investment for the start-up.
The startup’s cofounder and CEO, Kyle Wild, is not with the company because they hired COO Will O’Brien. Keen IO has received first funds totaling $60 million from Scaleworks, which also includes finance, recruiting, and communications resources, as mentioned by general partner Ed Byrne. Some other Scaleworks companies use Keen’s service, Byrne said.
San Francisco based Keen IO was created in 2011. They have some big customers including Adobe, InterContinental Hotels Group, and Pandora. On the other hand, competitors include Google Analytics, Kissmetrics, and Mixpanel. Keen IO gives the platform to developers to utilize and generate a custom analytics back-end. It also allows companies to configure and embed all sorts of analytics for teams and customers in additions to the capability to influence the dashboards in your preferred SaaS tools.
Analytics is a big aid to initiate a good progressive advance conclusion about running a business today. However, at Scaleworks, they have the data and numerous tools that companies use. Keen IO is now one of them.
The company has a future goal of advancing in product growth. The greatest contributions are coming from Dan Kador, Kyle Wild, and Ryan Spraetz.