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{"id":17846,"date":"2023-01-23T21:57:42","date_gmt":"2023-01-23T21:57:42","guid":{"rendered":"https:\/\/scienceandnerds.com\/2023\/01\/23\/mckinsey-eyeing-the-mlops-space-buys-tel-aviv-based-iguazio\/"},"modified":"2023-01-23T21:57:43","modified_gmt":"2023-01-23T21:57:43","slug":"mckinsey-eyeing-the-mlops-space-buys-tel-aviv-based-iguazio","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2023\/01\/23\/mckinsey-eyeing-the-mlops-space-buys-tel-aviv-based-iguazio\/","title":{"rendered":"McKinsey, eyeing the MLOps space, buys Tel Aviv-based Iguazio"},"content":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/01\/23\/mckinsey-eyeing-the-mlops-space-buys-tel-aviv-based-iguazio\/<\/a><\/br>
\nMcKinsey, eyeing the MLOps space, buys Tel Aviv-based Iguazio<\/br>
\n2023-01-23 21:57:42<\/br><\/p>\n

\n

The same day Microsoft invested<\/a> billions in OpenAI, McKinsey snatched up<\/a> an enterprise-focused AI firm, Iguazio, for a relative steal.<\/p>\n

The consulting giant reportedly<\/a> paid around $50 million for Iguazio, a Tel Aviv-based company offering an MLOps platform for large-scale businesses \u2014 \u201cMLOps\u201d referring to a set of tools to deploy and maintain machine learning models in production. In a press release, McKinsey says it plans to use the startup\u2019s tech and team of 70 data scientists to bolster its QuantumBlack platform, McKinsey\u2019s data analytics-focused group, with \u201cindustry-specific\u201d AI solutions.<\/p>\n

\u201cWe analyzed more than a 1,000 AI companies worldwide and identified Iguazio as the best fit to significantly accelerate our AI offering \u2014 from the initial concept to production, in a simplified, scalable and automated manner,\u201d McKinsey senior partner Ben Ellencweig said in a statement. Over time, he added, the Iguazio and QuantumBlack teams will be fully integrated and work from a single product roadmap, combining the best of both worlds (with any luck).<\/p>\n

\u201cIguazio has a state-of-the-art technology that has generated significant market traction with some of our marquee clients and earned them top-industry recognition,\u201d Ellencweig continued.<\/p>\n

Iguazio, whose customers included Payoneer, was co-founded in 2014 by Asaf Somekh, Orit Nissan-Messing, Yaron Haviv and Yaron Segev. The four previously served in senior roles at XtremIO (acquired by EMC), XIV (acquired by IBM), Mellanox (acquired by Nvidia) and Radvision (acquired by Avaya).<\/p>\n

Iguazio\u2019s product suite collects data and preps it offline or offline, accelerating and automating AI model training for deployment via APIs. Beyond this, Iguazio attempts to streamline machine learning pipeline steps like scaling, tuning and continuous delivery with features such as rolling upgrades, A\/B testing, logging and monitoring.<\/p>\n

Prior to the acquisition, Iguazio managed to raised $72 million in venture capital from investors including INCapital Ventures, Pitango VC, Jerusalem Venture Partners (JVP) and Magma Venture Partners according<\/a> to CrunchBase data. TechCrunch previously<\/a> reported that the startup was valued at $100 million.<\/p>\n

MLOps might not be as sexy as, say, ChatGPT. But demand is growing. By one\u00a0estimation<\/a>, the market for MLOps could reach $4 billion by 2025.<\/p>\n

Unsurprisingly, there\u2019s no shortage of startups going after the space, such as Comet<\/a>, which raised $50 million in November 2021. Other vendors with VC backing include Arize<\/a>,\u00a0Tecton<\/a>,\u00a0Diveplane<\/a>,\u00a0Iterative<\/a>, Galileo<\/a> and Taiwan-based InfuseAI<\/a>.<\/p>\n

But for McKinsey, the price \u2014 and timing \u2014 was right where it concerned Iguazio, apparently. The firm notes that Iguazio is its first acquisition in Israel, and that the newly extended team will serve as the foundation for a new QuantumBlack location that McKinsey expects to grow in the coming years.<\/p>\n

\u201cAttracting exceptional tech talent and expanding our tech ecosystem will enable us to welcome colleagues from around the globe to Tel Aviv\u2019s exciting tech scene,\u201d McKinsey partner Matt Fitzpatrick said in a blog post.<\/p>\n

Over the past year, McKinsey has made several acquisitions in the data analytics space, including Caserta, a firm specializing in data architecture and engineering. SCM Connections, another recent addition to the consultancy\u2019s portfolio, offers services for digital transformation, including building tech stack infrastructure.<\/p>\n<\/p><\/div>\n

<\/br><\/br><\/br><\/p>\n

Science, Tech, Technology<\/br>
\n<\/br>
\nSource:https:\/\/techcrunch.com\/2023\/01\/23\/mckinsey-eyeing-the-mlops-space-buys-tel-aviv-based-iguazio\/<\/a><\/br><\/br><\/p>\n","protected":false},"excerpt":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/01\/23\/mckinsey-eyeing-the-mlops-space-buys-tel-aviv-based-iguazio\/ McKinsey, eyeing the MLOps space, buys Tel Aviv-based Iguazio 2023-01-23 21:57:42 The same day Microsoft invested billions in OpenAI, McKinsey snatched up an enterprise-focused AI firm, Iguazio, for a relative steal. The consulting giant reportedly paid around $50 million for Iguazio, a Tel Aviv-based company offering an MLOps platform for large-scale businesses \u2014 \u201cMLOps\u201d […]<\/p>\n","protected":false},"author":1,"featured_media":17847,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,17,8],"tags":[],"class_list":["post-17846","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-science","category-tech","category-technology"],"yoast_head":"\nMcKinsey, eyeing the MLOps space, buys Tel Aviv-based Iguazio - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2023\/01\/23\/mckinsey-eyeing-the-mlops-space-buys-tel-aviv-based-iguazio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"McKinsey, eyeing the MLOps space, buys Tel Aviv-based Iguazio - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source:https:\/\/techcrunch.com\/2023\/01\/23\/mckinsey-eyeing-the-mlops-space-buys-tel-aviv-based-iguazio\/ McKinsey, eyeing the MLOps space, buys Tel Aviv-based Iguazio 2023-01-23 21:57:42 The same day Microsoft invested billions in OpenAI, McKinsey snatched up an enterprise-focused AI firm, Iguazio, for a relative steal. 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