Bangalore based text mining and analytics software startup MeshLabs is being acquired by Pegasystems, a Cambridge, US based Business Process Management (BPM) and CRM software provider. Pegasystems will integrate Bangalore startup MeshLabs’s text analytics software to gather unstructured social media data and decode it into actionable business insights for its clients.
Pegasystems is NASDAQ listed company founded in 1983 by CEO and Chairman Alan Trefler, a former world chess champion.
MeshLabs, a startup incubated at the NS Raghavan Centre for Entrepreneurial Learning at IIM Bangalore and founded in 2009 develops text analytics software to solve information management, customer experience, business intelligence, and regulatory compliance problems. MeshLabs flagship product – eZi CORE Text Analytics Engine is an enterprise-class text analytics engine that is powered by advanced algorithms in linguistics (NLP), semantics, and statistics.
MeshLabs’ existing clients includes Wipro, HCL, Accretive and Empower Research. Venkatesh Rao, Co-Founder and CEO of MeshLabs said – “We are excited to bring our technology to the Pega platform and extend the capabilities of what MeshLabs delivers. As we become part of the Pega platform, we will make customer service, marketing and sales interactions more personalized and insightful.”
The Co-founder & CEO of MeshLabs Venkatesh Rao along with other co-founders – Sampath Herga, Arijit Mitra Shantanu Gudihal and rest of the team will join Pegasystems post acquisition.
As per Pega press release – Pegasystems will unify MeshLabs’ social listening, text analytics, and natural language processing to enhance existing capabilities in its market-leading customer service, marketing, and case management solutions. The combined solution will enable organizations to collect social content, such as tweets, blogs, posts on Facebook or in other social communities, and enrich it by detecting language, topic, taxonomy and sentiment to deliver actionable social insight and intelligence.