Optimizely Acquires Machine Learning Startup Synference Supporting its vision to enable the world to turn data into action, the leading optimization platform expands through machine learning in its first acquisition
SAN FRANCISCO, June 26, 2014 /PRNewswire/ -- Optimizely, the world's leading optimization platform, today announced the acquisition of Synference, a startup that combines the power of optimization and machine learning to automate the discovery of patterns and insights. Adopted by more than 7,000 customers, Optimizely aims to expand its powerful optimization platform by using machine learning to provide valuable insights and inform decisions. Based in Dublin, Synference was founded in 2013 by Fergal Reid and Conrad Lee. The startup's technology applies machine learning to A/B testing and optimization, enabling companies to tailor their online experience to each visitor.
"The Synference team has found a way to marry testing, optimization and machine learning— which increases the clarity and volume of actionable data for businesses," said Pete Koomen, president and co-founder of Optimizely. "Machine learning can shorten feedback loops and inform a more effective optimization strategy. We looking forward to working with Fergal and Conrad to make this happen, and help our customers become even more successful."
The Synference team will join Optimizely full-time as members of the product and development groups. Reid and Lee previously earned PhDs in machine learning at University College Dublin (UCD).
"We founded Synference with the goal of using data and technology to positively impact decisions. Joining the innovative team at Optimizely will allow us to achieve these results on a grander scale," said Reid. "Optimizely is the leader in the space and has built the leading optimization platform. I am excited for the opportunity to help build smart products that help realize the huge promise that lies in machine learning technology and optimization."
Optimizely's announcement comes on the heels of closing a $57 million Series B round of financing led by Andreessen Horowitz in May. The company continues to explore growth opportunities and identify partners for rapid development. To learn more about Optimizely, visit www.optimizely.com.
Optimizely is the world's leading optimization platform, providing A/B testing, multivariate testing, and personalization for websites and iOS applications. The platform's ease of use empowers organizations to conceive of and run experiments that help them make better data-driven decisions. Optimizely meets the diverse needs of any organization looking to deliver unique experiences to their audience. To learn more, visit optimizely.com or join Optiverse today.