Wednesday, March 4, 2015

AlchemyAPI Acquired By IBM

Denver-based AlchemyAPI, the startup led by Elliott Turner, and backed by Access Ventures, has been acquired by IBM, in what looks to be a huge exit for the company's investors. IBM said this morning that it is acquiring AlchemyAPI, to accelerate its development of next generation cognitive computing applications as part of it Watson platform. Financial terms of deal were not disclosed, however, AlchemyAPI had so far only announced a $2M in funding, in a single round back in February of 2013. AlchemiAPI's software is used to collect and analyze unstructured text and data.