HubSpot has recently put out an announcement that it has acquired Kemvi, which is a startup applying machine learning and artificial intelligence to sales and marketing teams. Kemvi’s technology automatically extras information from SEC filings, blog posts, press releases, and websites to offer sales representatives insights into potential prospects.
Financial details around the acquisition have not been disclosed publicly. However, Kemvi raised $1 million in early funding from Kepha Partners, Neotribe Ventures, Seabed VC, and others.
HubSpot was founded in Cambridge, Massachusetts in 2006 and is well-known in the marketing and sales world. They offer a suite of tools that include analytics, blogging, SEO, marketing automation, CRM software, social media publishing, social media monitoring, and email marketing.
The company is used by over 18,000 businesses found in at least 90 countries.
Kemvi was founded out of San Francisco in 2014 and had raised a small amount of seed funding, but their core product is a great fit for HubSpot and what they do. As a part of the acquisition, Kemvi’s technology will be used in HubSpot CRM, which will allow salespeople the ability to automate some parts of their research in regards to prospects.
“Today’s consumers expect a personalized experience throughout the buying process, meaning that the modern salesperson needs to spend valuable time conducting research and tailoring each interaction with that buyer,” explained HubSpot cofounder and CEO Brian Halligan. “AI optimizes that process, saving time for the salesperson and delivering a world-class experience for the consumer. Kemvi’s DeepGraph technology gives salespeople that added boost to better connect with their prospects and close the deal without getting bogged down in time-consuming tasks.”
In addition to serving the sales and marketing industry, Kemvi has also done machine learning work for the SEC, Department of Defense, and the intelligence community.
Chief Strategy Officer of HubSpot, Brad Coffey, has expressed that the company is continually looking for new ways to bring artificial intelligence technology to its platform. He also noted that AI and machine learning are huge buzzwords thrown around a lot nowadays, but he thought Kemvi was appealing because they were addressing a need that salespeople have.
“What we want to do is focus on delivering tangible value to our customers,” Coffey said. “That’s what they’re here for — they’re trying to understand the right way to grow their business and reach their customer. It’s not that we want to invest in machine learning and AI for the academic interest of it.”
Founder and CEO of Kemvi, Vedant Misa, said, ““The B2B transaction ecosystem is on the cusp of a complete transformation, and we believe that HubSpot has the right vision and positioning to lead that change.”
With this new acquisition, it seems HubSpot is preparing to distinguish itself even more as the go-to for sales and marketing teams. By adding the functionality of Kemvi’s technology, salespeople will be able to focus less on researching leads and more on contacting and bringing them into the fold.