Billion-dollar data company invests in AI startup founded at UW-Madison
A Madison-based artificial intelligence company will receive investment from one tech giant in the nation.Image By: Karolina Grabowska STAFFAGE
GreenBay Technologies, a Madison-originated startup, finds investment from one of the biggest technology companies: Informatica.
Informatica, a data company headquartered in northern California and generates more than $1 billion in annual revenue, agreed to an equity investment in GreenBay Technologies, deepening in artificial intelligence and machine learning for data management.
The startup is founded by one UW-Madison professor and two Ph.D. students, and has ties to UW-Madison and the Wisconsin Alumni Research Foundation.
Though, the amount of investment is unclear.
"GreenBay Technologies is a clear choice for investment and the right partner to advance our AI and machine learning capabilities," said Amit Walia, president of products and marketing for Informatica, in a press release. "Their machine learning-based data management innovations are practical, effective and more advanced than anything we've seen."
Informatica, which annually invests $196 million into research and development, is looking to use the Madison company’s technology CloudMatcher to improve Claire, Informatica’s existing intelligent data product.
AnHai Doan, a professor in UW-Madison’s Department of Computer Science and Vilas Distinguished Achievement Professor, is one of the founders of GreenBay Technologies shepherding multiple data management research projects at the university.
“Informatica’s investment and industry-leading expertise will enable GreenBay Technologies to work alongside the world’s leading enterprise cloud data management company to help thousands of Informatica customers unleash the power of data and accelerate their digital transformations,” Doan said.
The investment from Informatica has the potential to build connections with other large companies for GreenBay Technologies.Subscribe to The Daily Cardinal Newsletter