ServiceNow has announced its second AI-related acquisition this year. The company has signed a definitive agreement to acquire data.world, a cloud-native data catalog and data management platform. This strategic acquisition is intended to help customers implement AI at scale by making their data more AI-ready.
Austin, Texas-based data.world was founded in 2015 and has since raised over $130 million in capital from companies such as Alumni Ventures, Prologis Ventures, and Shasta Ventures. The financial details of the acquisition have not been disclosed, but according to estimates, data.world was valued at $350 million in a $50 million Series C funding round in 2022.
Data as the foundation for AI
According to Gaurav Rewari, SVP and GM of data analytics at ServiceNow, data.world is a company that can help catalog and manage data at the enterprise level. With this acquisition, ServiceNow aims to help companies make their data “AI-ready.”
Data.world helps organizations catalog and manage enterprise-level data. Its functionality is an essential addition to the ServiceNow platform, which increasingly focuses on intelligent automation and AI agents.
Integration with ServiceNow AI platform
Once the acquisition is complete, data.world will be integrated into ServiceNow, and the data.world platform will soon be offered as a product to ServiceNow customers.
This is ServiceNow’s second acquisition in a short period of time. In March, the company announced the acquisition of Moveworks for $2.85 billion. Moveworks develops enterprise-focused automation and AI tools. These acquisitions align with ServiceNow’s strategy of investing heavily in Agentic AI. To this end, it is developing new technology and making strategic acquisitions, such as data.world.