Enterprise workflow administration platform ServiceNow on Wednesday introduced its second AI-related acquisition this yr.
ServiceNow stated that it has signed a definitive settlement to amass Knowledge.World, a cloud-native knowledge catalog and knowledge governance platform. Austin, Texas-based Knowledge.World was based in 2015, and beforehand raised greater than $130 million in enterprise financing from corporations reminiscent of Alumni Ventures, Prologis Ventures, and Shasta Ventures, in keeping with Crunchbase.
The phrases of the deal weren’t disclosed. Knowledge.World was most lately valued at $350 million within the firm’s 2022 $50 million Sequence C spherical, per PitchBook.
Gaurav Rewari, an SVP and GM of knowledge analytics at ServiceNow, informed TechCrunch that ServiceNow was in search of corporations they may companion with that might assist prospects deploy AI at scale. Particularly, ServiceNow was seeking to give companies higher assets to make their knowledge “AI-ready.”
“As I prefer to say, this path to agentic ‘AI heaven’ goes by some type of knowledge hell, and that’s the grim actuality,” Rewari stated.
He added that Knowledge.World was the precise alternative to assist ServiceNow prospects with this drawback as a result of Knowledge.World helps enterprises manage and simply search by their knowledge. The addition of Knowledge.World’s knowledge governance instruments will assist prospects get essentially the most out of their AI brokers and different types of AI automation, Rewari stated.
“We checked out a bunch of corporations and got here away so impressed with what they’d constructed,” he added. “We felt that the entire journey that they had been on, with respect to metadata administration [and] knowledge-based infrastructure, to offer cataloging of knowledge throughout the huge enterprise and the governance of that knowledge itself — that might be a particularly necessary addition to our product portfolio.”
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Rewari stated that when the deal closes, Knowledge.World will start integrating into ServiceNow, with Knowledge.World’s platform being supplied as a product to ServiceNow prospects within the close to future.
It’s ServiceNow’s second acquisition in current months.
ServiceNow introduced in March that it agreed to purchase Moveworks, which develops enterprise-focused automation and AI instruments, for $2.85 billion.
These acquisitions all match properly into ServiceNow’s plan to embrace agentic AI and the instruments required to construct it. In March 2024, ServiceNow SVP of company enterprise improvement, Philip Kirk, informed TechCrunch that ServiceNow was going to strategy the transition to agentic AI by a mixture of constructing and shopping for capabilities.
“It’s type of three-dimensional chess proper now to determine whether or not to construct, purchase, or companion,” Kirk stated on the time. “I believe the largest factor that we attempt to prioritize is how we are able to make choices which might be within the long-term finest curiosity of our prospects, and that differentiate us from what we all know we’re world-class at, which is enterprise automation in our platform.”
Up to date 10:09 a.m. Pacific: An earlier model of this text referred to Knowledge.World as “Declan.” ServiceNow offered TechCrunch with a weblog publish that used this title, which a spokesperson later stated is inside product nomenclature and shouldn’t have been printed. We remorse the error.
