Boston startup that analyzes biz reputations gets bought
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Kelp, a Boston-based startup that uses data and AI to help corporations track and improve their reputations, has been acquired by London-based Signal AI, the companies announced today.
Why it matters: The deal will help Kelp provide deeper insights for its clients, the companies said.
What it cost: The companies declined to discuss the terms of the sale, but Signal AI announced months ago that it raised $50 million for a platform that culls content online to help companies make better business decisions, per TechCrunch.
- Kelp has been using the platform — an AI engine with a massive dataset that captures social media posts, articles and other content about companies across dozens of industries — to show what people think about topics like companies’ responses to climate change.
- Kelp offers those insights to its roster of Fortune 500 partners, some of which are Boston-area life sciences companies.
The big picture: Companies give a damn about their reputations — and not just how many products they sell or how much money they make, said Kelp and Signal AI executives in their announcement.
- Companies have gained an interest in Signal AI and Kelp's work because it provides information about other factors that can affect their reputation like social issues and progress in research and development. Kelp offers strategies on how to respond to that data.
What they're saying: "Now that we're powered by Signal AI's external intelligence data and tech stack, Kelp is delivering insights that can help executives at Boston's best companies — from Moderna to Raytheon — optimize strategy, capitalize on emerging opportunities, and mitigate rising risks," Kelp co-founder Dan Gaynor said in a statement.