Verta Acquired by Cloudera
Cloudera United States
BOSTON, July 2, 2024 – Bowen is pleased to announce that Verta, a pioneer in model management and operations for predictive and generative AI, has been acquired by Cloudera, a global provider of data lakehouse solutions for large enterprises and a portfolio company of KKR and Clayton, Dubilier & Rice. Bowen acted as the exclusive M&A advisor to Bay Area-based Verta.
Verta was founded as a spin-off from MIT CSAIL by Dr. Manasi Vartak, who invented the first open-source model management system as part of her PhD which became the progenitor of MLflow. Verta’s LLM Operations platform simplifies the process for citizen developers to manage and optimize large language models (LLMs) at scale. In addition to bringing world-class AI and ML expertise, Verta’s GenAI workbench and AI governance tools will enable Cloudera to leverage their leading data lakehouse platform as the foundation for enterprises building and deploying GenAI applications.
“While we are still in the early days of broad GenAI adoption across the enterprise, the rapid technical advancement in public and private LLMs has put AI at the forefront of product roadmap and inorganic growth strategies,” said Kevin Hawkins, Managing Director at Bowen. “As this fundamental technology transformation continues, we look forward to working with other market-leading companies that will define the operations and infrastructure foundation for broad Enterprise AI adoption.”
“Verta needed a banker with a deep understanding of the cloud and data software buyer landscape and their respective AI roadmaps,” said Dr. Manasi Vartak, CEO and Co-Founder of Verta. “Bowen’s unique transaction experience across cloud infrastructure, operations, and GenAI software was critical for completing a successful transaction where we can continue building on our ambitious AI roadmap.”
Read more:
