InterVision acquires AI firm SeyVu
INTERVISION ACQUIRES AI FIRM SEYVU
InterVision, the cloud computing company on an ongoing acquisition drive, said it acquired AI firm SeyVu.
The announcement marks the private equity backed company’s fifth acquisition in three years.
SeyVu’s artificial intelligence and machine learning technology can be used in fraud prevention, voice enabled platforms, supply chain, market research, investment research and brand management.
Harsha Gopianandan, CEO and founder of SeyVu, will become general manager and vice president of machine learning and analytics at InterVision.
The company became aware of SeyVu’s capabilities through its previous acquisition of Infiniti Consulting Group in the fall of last year. SeyVu was a core partner of Infiniti, which just last month was fully integrated into InterVision. At that time Infiniti President Scott Drossos became COO at InterVision.
“Since we were so integrated it made lot of sense to fold them in,” Drossos says.
The SeyVu acquisition brought 10 new data scientists to InterVision, Drossos added.
Private equity firm Huron Capital Partners bought a controlling stake in InterVision in 2016. RLG Capital, another private equity firm acquired a stake at the same time.
InterVision has been mostly focused on the Midwest and western part of the United States but has just recently expanded into the East as well.
The company currently develops bespoke AI applications for clients, such as, in one case, preventing Russian actors from penetrating a client’s system. Drossos says it does plan to offer more commoditized services as it builds capacity.
Since machine learning and AI are so new many clients, while aware of the technology, don’t always understand how fully it can be applied.
“The biggest challenge is often the customers don’t know what the problem is that they are trying to solve so we can be proactive to help them uncover the potential they are not attaining,” Drossos says.
The company is profitable despite the ongoing investment in growth through acquisitions, Drossos says.
“We’re always looking for ways to keep pace with the way the world is headed to serve clients with the cloud and data and it’s easier with acquisitions especially with the way the market is moving so quickly,” the new COO says.