Squirro, a leading Swiss-headquartered global SaaS platform specializing in enterprise-ready generative AI, search, and business insights, proudly announces its acquisition of Synaptica, a renowned US-based SaaS provider of enterprise taxonomy management and knowledge graph systems.
This strategic acquisition integrates Synaptica’s robust semantic graph technology with Squirro’s cutting-edge generative AI capabilities, creating a powerful platform for knowledge discovery, conversational search, and business process automation.
Generative AI technologies, such as Retrieval Augmented Generation (RAG), leverage the strengths of traditional information retrieval combined with Large Language Models (LLMs), enabling natural language understanding and generation. RAG has swiftly become a sought-after solution, empowering enterprise users to ask natural language questions, retrieve relevant content and data, and transform it into contextually informative responses.
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“RAG alone does not ensure the completeness and accuracy of information for mission-critical enterprise applications. Squirro quickly identified that this gap can be bridged by combining generative AI with enterprise knowledge graphs and semantic technology,” stated Dorian Selz, CEO of Squirro.
Synaptica’s SaaS platform is utilized by a diverse global customer base, including major corporations and government agencies, to manage enterprise knowledge, encompassing taxonomies, ontologies, and knowledge graphs.
“Our customers span various industries, but they all share a commitment to high-quality information retrieval. They use semantic technology to build knowledge organization systems, standardize and enrich metadata, and optimize precision and recall,” said David Clarke, co-founder of Synaptica. Clarke will join Squirro’s leadership team as Executive Vice President, Semantic Graph Technology.
The integration of Synaptica’s semantic graph technology into Squirro’s generative AI platform will enable organizations to:
- Enhance RAG Information Accuracy and Completeness: Ground GenAI processes in transparent, human-editable knowledge models.
- Automate Business Processes: Utilize process-oriented taxonomies and ontologies to guide RAG decision-making, ensuring appropriate refinement questions and recommended next steps.
- Improve Content Classification and Semantic Search: Use single-source-of-truth enterprise taxonomies to provide consistent quality metadata across multiple content repositories.
- Discover Latent Knowledge and Business Insights: Continuously enrich an enterprise knowledge graph that infers new knowledge from the semantic associations and similarities of entities.
“The Generative AI space is evolving at an unprecedented pace, and we are committed to providing a platform that empowers our customers to stay ahead,” said David Hannibal, CPO and Head of Corporate Development.” We will continue to drive innovation, with our first addition being knowledge graph enhanced Retrieval-Augmented Generation.”
This acquisition marks a significant milestone for both companies, positioning them at the forefront of the rapidly evolving landscape of AI-driven knowledge management and business process automation.
SOURCE: Squirro