Wayne-based cloud services company Evolve IP announced Tuesday it had made its 15th acquisition by snatching up Austin-based Jog.ai, makers of a speech analytics platform.
No financial details were made available about the deal, which the company called an “intellectual property acquisition” rather than an investment in personnel or a geographic expansion.
The company’s two cofounders, Sam Gaddis and Ed Ireson, will join Evolve IP’s workforce, which currently has 410 employees across the the U.S., Europe and the Middle East.
“[Jog.ai] is a premier natural language application that truly delivers great results,” said Evolve IP CTO Scott Kinka in a press release. The technology, he said, “is incredibly useful and user-friendly and we expect that we will see rapid adoption and significant market interest in the application.”
Kinka said the service, which links call audio and text transcription together, would add a layer of confidence for the company’s clients, especially those in compliance-heavy environments such as healthcare, finance and legal.
“Evolve IP’s significant base of accounts, partner community, and sales and marketing acumen will help us realize the growth goals we’ve had for Jog.ai since our start,” said Ireson. Additionally, with more software development resources at our disposal, there is much more that we can do to further develop the intellectual property and lead the market.”
Evolve IP says it has 1,900 enterprise clients, reaching some 420,000 users through its OneCloud platform, which includes cloud computing and cloud communications services — think IP phone systems, unified communications and collaboration platform, virtual desktops and other services.
In 2016, the company received a majority investment from Boston-based private equity firm Great Hill Partners that would allow it to expand organically and through acquisitions. Since then, the company has bought a handful of smaller companies in similar spaces, like New Jersey-based Clearlogin or Minnesota-based AiTech.
Before you go...
Please consider supporting Technical.ly to keep our independent journalism strong. Unlike most business-focused media outlets, we don’t have a paywall. Instead, we count on your personal and organizational support.
3 ways to support our work:- Contribute to the Journalism Fund. Charitable giving ensures our information remains free and accessible for residents to discover workforce programs and entrepreneurship pathways. This includes philanthropic grants and individual tax-deductible donations from readers like you.
- Use our Preferred Partners. Our directory of vetted providers offers high-quality recommendations for services our readers need, and each referral supports our journalism.
- Use our services. If you need entrepreneurs and tech leaders to buy your services, are seeking technologists to hire or want more professionals to know about your ecosystem, Technical.ly has the biggest and most engaged audience in the mid-Atlantic. We help companies tell their stories and answer big questions to meet and serve our community.
Join our growing Slack community
Join 5,000 tech professionals and entrepreneurs in our community Slack today!
The person charged in the UnitedHealthcare CEO shooting had a ton of tech connections
From rejection to innovation: How I built a tool to beat AI hiring algorithms at their own game
Where are the country’s most vibrant tech and startup communities?
