Meltwater, a global leader in media intelligence, has acquired Algo, a real-time data analytics platform. The acquisition brings on Algo’s patented Velocity of Information engine, which surfaces rising trends from tens of millions of real-time data points.
Founded in 2015 by Matt Michelsen, Aaron Rama and Evon Onusic, Algo leverages machine learning and natural language processing to democratise online semantic data that currently only the tech giants have the infrastructure to support. It processes one billion data points daily in real-time, determining which information is spreading fastest globally. The Algo app has been massively adopted, with over three million downloads.
“In this day and time we are all drowning in data. Meltwater’s goal is to give our clients access to smart technology that can cut through the clutter and extract critical insights from billions of data points – data points which would be impossible for a human being to make sense of,” said Jorn Lyseggen, CEO of Meltwater.
“There is a vast amount of external data that companies today largely overlook containing real-time information about how competitors invest, how they hire, how they spend their ad budget, and how their products are received in the market. Anyone that is thoughtful about mining this information will create a powerful information advantage over their competitors.”
“Our platform ingests and analyses data from tens of millions of sources, in over 80 languages –
in real time. Applying Algo’s information velocity engine on top of our existing streams will help us identify anomalies and predict trends in several micro and macro topics that are relevant to our customers,” said Aditya Jami, senior director of engineering and head of AI at Meltwater.