Financial services firm Citi has exited US-based of contextual search technology Selerity in an acquisition of undisclosed size by financial content analytics provider Dealogic.
Founded in 2009, Selerity offers artificial intelligence-driven software that automates worfklows and lets financial industry professionals run contextual searches on unstructured capital markets data.
Dealogic intends to leverage its international client base in order to support Selerity’s business in the wake of the acquisition, helping it expand in existing and new areas of the financial services industry.
Citi reportedly led a $4.2m funding round for Selerity in 2016 that included angel investors Roger Ehrenberg and Mark Faulkner that followed $2.3m in debt financing the year before, according to a regulatory filing.
Selerity had previously raised $3m from angel investors in 2013, having secured $5.1m from undisclosed backers in 2009.