Business intelligence software provider SparkCognition has acquired Maana, a US-based business management technology developer backed by corporates Accenture, Chevron, ConocoPhillips, General Electric, Intel, Shell and Saudi Aramco, for an undisclosed amount.
Founded in 2012, Maana provides a big data and artificial intelligence-equipped analytics platform that allows organisations to evaluate the effectiveness and productivity of their operational processes and helps them make more informed decisions.
The purchase will give SparkCognition access to Maana’s knowledge graph tool, industry know-how and a network of customers including Airbus, Aramco, Chevron and Shell.
The company had received $2m in funding in October 2020, approximately a year after a $4m from similarly undisclosed investors, according to two securities filings.
Consulting firm Accenture, chipmaker Intel, industrial conglomerate General Electric and energy groups Chevron, Shell and Saudi Aramco all took part in Maana’s $28m series C round in 2017 through subsidiaries Accenture Ventures, Intel Capital, GE Ventures, Chevron Technology Ventures, Saudi Aramco Energy Ventures and Shell Ventures respectively.
Investment bank China International Capital Corporation and investment firm Eight Square Capital co-led the 2017 round, which was filled out by Sino Capital.
Saudi Aramco Energy Ventures led a $26m series B round for the company in 2016 that also featured Shell Ventures, Chevron Technology Ventures, GE Ventures, Intel Capital and Frost Data Capital.
Chevron Technology Ventures, GE Ventures, Intel Capital and Frost Data all took part in a $14m round for Maana revealed when it exited stealth mode in 2015, investing alongside ConocoPhillips Technology Ventures, part of oil producer ConocoPhillips.
