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Software company Tulip is acquiring Israeli startup Akooda, which specializes in smart search. The value of the deal was not disclosed but is estimated to be in the tens of millions of dollars. Tulip, led by CEO and co-founder Dr. Natan Linder, has offices in Boston, Munich, Budapest, and Singapore, and will establish an R&D office in Israel following the acquisition. The new site will focus on accelerating the development of AI capabilities for Tulip’s customers.
Tulip has raised $153 million to date and was valued at $800 million post-money in its latest funding round, led by Insight Partners and including Israeli fund Pitango. Its customers include global industrial companies such as DMG Mori, Johnson & Johnson, and Stanley Black & Decker.
Founded in 2021 by CEO Yuval Gonczarowski and CTO Itamar Niddam, 8200 graduates who met as students at the Technion – Israel Institute of Technology, Akooda developed a platform that connects to all of a company’s internal systems and analyzes organizational data to reveal insights into workflows, performance bottlenecks, and decision points at scale. The company raised $11 million from NFX, Village Global (backed by Jeff Bezos, Bill Gates, and Mark Zuckerberg), Founder Collective, one of the first investors in Uber, and Atlassian’s investment arm. All Akooda employees will move to Tulip’s R&D center in Tel Aviv and work closely with the engineering team in Munich.