A Romanian IT startup that develops artificial intelligence (AI) technologies to be use din marketing has been bought by a U.S. tech company this week.
The American buyer is Algolia, a leading Search-as-a-Service company and the acquired Romanian firm is MorphL, a Google Digital News Initiative startup. The sum of the transaction was not revealed.
Founded in 2017 in Bucharest by Ciprian Borodescu and Alexandra Anghel, MorphL is developing a AI-as-a-platform product to help companies to rise by optimizing their marketing efforts based on predictions related to the customers’ behaviours. So, with the help of AI, the companies can learn and anticipate the conduct of their clients.
This acquisition extends Algolia’s leading intelligent search APIs, with recommendations and user behavior models all along the customer journey, so companies can deliver powerful, intent-based experiences and iterate quickly in response to market trends and user propensity profiles.
“I am thrilled to welcome MorphL to the Algolia family. It’s an exciting time — brands are looking to create meaningful connections with people, and that requires understanding intent in the moment, personalized navigation, search, and recommendations or offers. Sounds easy enough, but ask most Chief Digital Officers or heads of eCommerce and it’s not,” said Bernadette Nixon, Chief Executive Officer, Algolia.
In his turn, Ciprian Borodescu, Morphl CEO said that their work was to democratize the artificial intelligence: “Many companies are trying to make it easier to use AI, but few are making it as simple as MorphL. Indeed, our mission has always been to democratize AI and to empower developers and marketers, who wish to enhance their digital offerings with a simple ‘plug and play’ building block interface for building their intent-based, omnichannel sites and applications.”
MorphL has previously secured financing and endorsement from the European Data Incubator and Google Digital News Initiative. At the same time, the Romanian startup had been admitted in a big acceleration programme from Canada in 2019, Techstars Montreal AI.
MorphL obtained total investments of at least USD 120,000.