San Francisco media intelligence firm Meltwater has acquired Algo. The deal is the latest in a steady stream of companies that the firm has brought under its umbrella over the past year and a half.
The Algo acquisition strengthens Meltwater’s media analytics and insights platform with the addition of its patented Velocity of Information engine, which reveals rising trends gathered from tens of millions of real-time data points. It also brings Algo’s team of Natural Language Processing and information retrieval experts in-house to oversee development of new products.
Founded in 2015 by Matt Michelsen, Aaron Rama and Evon Onusic, Algo says that it processes one billion data points daily in real-time, determining which information is spreading fastest globally. The Algo app has been downloaded over three million times.
“We’re excited to marry Algo’s infrastructure with Meltwater’s current technology,” said Matt Michelsen, investor and co-founder of Algo. “The opportunity to help grow an international organization committed to helping its customers gain an unprecedented level of analysis is exciting.”
Meltwater, which has more than 1,500 employees across 55 offices, says it is actively seeking investment opportunities and partnerships to continue expanding its media intelligence services globally.