US B2B technologies accelerator Xenon Ventures has announced that it has acquired Israeli cloud data integration company Xplenty. Tel Aviv-based Xplenty helps companies to integrate, transform and organize their data faster and more effectively, bypassing the setbacks and problems that come with ETL tools.
No financial details were disclosed but the acquisition was according to sources in the sector for less than $10 million. According to Start-Up Nation Central, Xplenty has raised $7 million to date, in three financing rounds led by Magma Venture Partners with other investors including Rembrandt Venture Partners, True Partners, Bain Capital Ventures and the French-Russian fund Waarde Capital. In 2016, Xplenty bought the US company Driven.
Yaniv Mor cofounded Xplenty together with CTO, Saggi Neumann, and VP R&D, Moty Michaely, in 2012. They will continue to be advisors to the company following the acquisition.
Mor said the company had annual sales of millions of dollars. "We’re excited to join the Xenon Ventures family of companies. Together with the team at Xenon Ventures, Xplenty will be able to scale and grow and continue to provide our customers with ground-breaking data integration technology, as well as first-class support. Under the guidance of Xenon, Xplenty will continue to help organizations make better business decisions, and derive valuable insights from their data."
Xenon Ventures chairman Jonathan Siegel said, "The cloud-based data market is growing very rapidly and the challenges that accompany this growth are evolving as well. Integrating and connecting multiple data sources have always been tasks that data professionals spent a large majority of their time on. The Xplenty platform minimizes this time so that data professionals can focus on high-value data analysis rather than data preparation. We have found in Xplenty a unique combination of a robust, scalable technology, alongside an intuitive and easy-to-master interface."
Published by Globes, Israel business news - en.globes.co.il - on December 19, 2018
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