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Israeli Startup Geniez AI Acquired for Up to $100 Million After 14 Months
American firm Rocket Software is acquiring Israeli startup Geniez AI for up to $100 million, just 14 months after its founding. The company, with only six employees, developed AI agents to manage complex mainframe systems for financial institutions.
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What happened
- 01Rocket Software is acquiring Israeli startup Geniez AI for up to $100 million.
- 02Geniez AI was founded only 14 months ago and has just six employees.
- 03The startup developed AI agents to manage complex mainframe systems for financial institutions.
- 04Founders Gil Peleg and Dan Shprung previously sold Model9 for $40 million.
- 05Geniez AI secured pilot programs with three major U.S. banks within months.
- 06The company raised $6 million in seed funding led by StageOne Ventures and Canapi Ventures.
Founders Gil Peleg and Dan Shprung, who previously sold Model9 for $40 million, are set to profit significantly. The acquisition is driven by Geniez AI's rapid market penetration and its innovative solution to a major challenge in the financial sector.
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