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Veritone Gets Acquisition Bid From Apis Capital Management

socalTECH

Costa Mesa-based Veritone , a developer of artificial intelligence software, said it has received an unsolicited acquisition bid from private equity firm Apis Capital Management. According to Veritone, Apis has offered to acquire all of its outstanding shares for $10.26 per share in cash.

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Ferret Finds $4M For AI Tools

socalTECH

The company said it is developing machine learning algorithms which help users determine who they can trust in real time. The company said the funds will go towards the acquisition and collection of data, and also go to expand its artificial intelligence search, monitoring, and natural language processing capabilities.

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ServiceNow Acquires Passage AI

socalTECH

According to ServiceNow, the deal will help it advanced its own artificial intelligence capabilities, including the addition of support for all major languages on its platform. Passage AI was founded in 2016 and had received funding from Blumberg Capital, Storm Ventures, Engineering Capital, 11.2 READ MORE>>.

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Nervana’s $400M+ Buyout Reflects Key Tech Trend in Machine Learning

Xconomy

On the day after Intel announced its acquisition of San Diego machine learning startup Nervana Systems, investor Steve Jurvetson told me he was feeling a sense of satisfaction about a call he made three years ago, and how it has been playing out. In the 2-1/2 years since it was founded, Nervana raised roughly $25 million.

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Red 6 Bolsters Advisors With Former Air Force Assistant Secretary

socalTECH

Santa Monica-based augmented reality, air combat training technology developer Red 6 said on Thursday that it has added Dr. Will Roper, former Assistant Secretary of the Air Force for Acquisition, Technology and Logistics (AT&L).

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Papaya raises $50M to give you a way to pay bills via its mobile app

TechCrunch LA

The company’s mobile application lets users take a photo of any bill and then its artificial intelligence-powered “bill-understanding technology” makes sure it gets paid (after a user has provided payment details, of course). Our cost of customer acquisition is very low relative to a lot of fintechs,” he said.

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Cornerstone OnDemand Buys Evolv

socalTECH

Santa Monica-based Cornerstone OnDemand said Tuesday afternoon that it has agreed to acquire Evolv , a machine learning and data science company based in San Francisco. According to Cornerstone OnDemand, it will use the buy to bolster its big data analytics and machine learning efforts. in cash, plus assume up to 2.0M