US-based calendar app developer Tempo has been acquired by cloud computing platform Salesforce.com, providing exits to wireless technology company Qualcomm and telecommunications firm Singapore Telecommunications.
Spun out of Stanford University-affiliated research institute SRI International in February 2013, Tempo was the developer of a smart calendar app that automatically shows content related to a calendar entry such as emails, LinkedIn profiles and directions. The amount paid by Salesforce was not disclosed.
Qualcomm Ventures and SingTel Innov8, Qualcomm and SingTel’s respective corporate venturing units, backed Tempo’s $10m series A round in 2013, which was co-led by Relay Ventures and Sierra Ventures.
The series A round also included Mayfield Fund, Horizon Ventures, Miramar Venture Partners, Golden Venture Partners, Seavest Capital Partners, Eniac Ventures and SRI International, a research spin-out of Stanford University, as well as angel investors Gaurav Garg and Peter Wagner.
Tempo previously secured $2.5m in a 2011 seed round led by Relay that also featured Qualcomm Ventures, SingTel Innov8, Mayfield, Horizon, Miramar, Golden, Seavest, Eniac, SRI, Garv and Wagner.
Tempo will shut down its app by the end of this month. Although the company has not disclosed how Salesforce will use its technology, an announcement posted on Tempo’s website states that the company will “continue [its] mission at a much larger scale”.