US-based big data analysis provider Automated Insights, backed by electronics conglomerate Samsung and media company AP, has been acquired by sports technology and content company Stats and private equity firm Vista Equity Partners.
Automated Insight will become a subsidiary of Vista-owned Stats. The financial terms of the acquisition have not been disclosed.
Automated Insights secured $5.5m in an oversubscribed series B round in June 2014. The round was led by Osage Venture Partners and featured Samsung’s corporate venturing arm Samsung Venture Investment, AP, Court Square Ventures, Idea Fund Partners and angel investors Steve Case and Mike Phelan.
The company raised $1.3m in a 2010 series A round under its original name StatSheet. Valhalla, Idea, and a range of angel investors participated in that round. Renaming itself to Automated Insights, the company then topped up the series A round by $4m in 2011, adding Court Square Ventures and OCA Ventures to its investors.
Automated Insights’ technology is able to generate raw data into articles that feel like they were written by a human. It has created more than a billion such articles in the past year alone for clients including AP, internet portal Yahoo and telecom and media company Comcast.