Computing equipment provider Hewlett Packard Enterprise (HPE) has exited US-based analytics software platform Keen IO in an acquisition of undisclosed size by private equity firm Scaleworks.
Keen IO has created an application programming interface (API) that allows software developers to build data analytics tools such as customised alerts and dynamic pricing and advertising into their products. The software can also power dashboards in software-as-a-service platforms.
Ed Byrne, general partner at Scaleworks, said: “The company will continue investing in product development, The team is smart, driven and has created a periscope into user activity and a platform upon which to make better product decisions.”
The acquisition comes after $30m of venture capital funding, including a $14.7m series B round in July 2016 led by VC firm Pelion Venture Partners that included HPE’s corporate venturing unit, Hewlett Packard Pathfinder.
VC firms Sequoia Capital, Rincon Venture Partners, Amplify Partners, Rothenberg Ventures, Techstars, 500 Startups and Galvanize Ventures also took part in the round, as did startup services provider Heavybit Industries.
Sequoia had previously led Keen IO’s $11.3m series A round in 2014, investing together with Amplify Partners, Pelion Venture Partners, Rincon Venture Partners, Cloud Power Capital and angel investor Morris Wheeler.