Snowflake is all about managing information within the cloud, whether or not as a part of a structured information warehouse, or much less structured information lake. Neeva, a search startup from two former Google workers, has been all about search, engaged on each a shopper and enterprise providing. Earlier this week, it introduced that it was strolling away from shopper search to focus on the enterprise.
At this time, Snowflake introduced it was shopping for the startup. The businesses didn’t reveal the phrases of the deal.
Rumors had been swirling just lately that Snowflake was focused on Neeva earlier than the 2 corporations made it official in a weblog submit on the Snowflake web site this afternoon. Benoit Dageville, the corporate co-founder and VP of merchandise defined why he thinks that the businesses match collectively so properly.
“The power for groups to find exactly the best information level, information asset or information perception is crucial to maximizing the worth of knowledge,” Dageville wrote within the weblog submit.
He identified that Neeva’s potential to leverage generative AI in search was considered one of issues that drew Snowflake to the search startup. “That’s why Snowflake is buying Neeva, a search firm based to make search much more clever at scale,” he wrote. With generative AI searches, customers can ask query and work together with the search instrument, altering the best way individuals search in elementary methods.
In reality, the corporate had been engaged on a stand-alone generative AI search app referred to as Gist when it shut down. In a weblog submit asserting that the corporate was shutting down the buyer search, the founders identified that it had expertise it might put to work on enterprise merchandise and that was the place it will be concentrating going ahead.
“Most of the strategies now we have pioneered with small fashions, measurement discount, latency discount, and cheap deployment are the weather that enterprises really need, and wish, right this moment. We’re actively exploring how we will apply our search and LLM experience in these settings, and we are going to present updates on the way forward for our work and our workforce within the subsequent few weeks,” the founders wrote of their weblog.
But it surely turned out that it was a farewell weblog submit as a stand-alone firm, and it will do this work on enterprise search as a part of Snowflake. Neeva had so much going for it when it launched with the hope of delivering an ad-free search instrument that solved the privateness points inherent in most shopper search instruments. The 2 founders spent years slicing their tooth at Google, and introduced that have to the startup. They raised over $77 million since founding the corporate in 2019, per Crunchbase. The newest $40 million spherical got here simply over two years in the past. Traders included Sequoia and Greylock.
Now as a part of Snowflake, the founders deliver a wealth of expertise to the corporate to assist construct AI search options on high of the cloud information administration answer. The dream of constructing a Google competitor could have died with the top of the buyer search instrument, however the tech might reside on in future Snowflake search options.
