Salesforce Acquires Israeli AI Firm Loops in 10th Israeli Deal
Translated & summarized from Globes by baba
Salesforce has agreed to acquire Israeli AI company Loops, marking the US software giant's tenth acquisition in Israel. Loops developed an AI platform for analyzing business data and explaining performance changes. The acquired technology and staff will be integrated into Salesforce's Tableau division to enhance AI capabilities. The deal is expected to close in early November.
The story in 7 lines · by baba
- Salesforce announced its agreement to acquire Israeli AI company Loops.
- This marks Salesforce's tenth acquisition in Israel.
- Loops developed an AI platform for analyzing business data and explaining performance changes.
- The acquired technology will be integrated into Salesforce's Tableau division.
- The deal is expected to close in early November.
- Loops had previously raised approximately $14 million.
- Loops was founded in 2020 by Tom Laufer, Ido Adib, and Brian Balfour.
American software giant Salesforce announced Monday it has signed an agreement to acquire Israeli artificial intelligence company Loops. Founded in 2020, Loops has raised approximately $14 million to date and developed a platform for analyzing business data using AI. The deal's value was not disclosed, and it is expected to close in early November, pending customary conditions.
Loops, co-founded by Tom Laufer, Ido Adib, and Brian Balfour, created a system that continuously monitors organizational business performance, identifies changes in key metrics, and explains their causes. Unlike traditional analytics tools that present data through reports and dashboards, Loops' system aims to explain performance shifts and suggest actions for improvement.
This acquisition marks Salesforce's tenth in Israel, adding to a series of deals the US company has made in the local market over the years. Salesforce's development activities in Israel began with its 2011 acquisition of Navajo Systems, which led to the establishment of its local development center. Subsequent acquisitions include ClickSoftware, Bonobo, Own, and Doti AI.
Following the deal's completion, Salesforce plans to integrate Loops' technology and employees into its Tableau division, which specializes in data analysis and business intelligence. This integration is intended to enhance the platform's AI capabilities, enabling it to identify trends and anomalies in data and recommend actions accordingly.
The Senior Vice President and General Manager of Tableau at Salesforce, Senior Vice President and General Manager of Tableau at Salesforce, stated that Loops' technology will help customers better understand the factors influencing their business performance and identify in real-time where AI agents can intervene. Loops CEO Tom Laufer added that the company was founded on the principle that analytics systems should help organizations understand their data and make informed decisions, and that joining Salesforce and Tableau will expose their technology to a much wider customer base.
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