PathFactory has acquired fellow Toronto-based business-to-business (B2B) marketing platform Uberflip as it looks to bring its generative artificial intelligence (AI) offerings to a larger audience.
Uberflip will not change its name in the “foreseeable future” and will continue to exist as a legal entity.
The acquisition was completed through a stock-for-stock transaction, and will see PathFactory CEO Dev Ganesan lead the combined company under the PathFactory name. A major Uberflip backer, Updata Partners co-founder Ira Cohen, and Uberflip CEO Jeremy Schultz will join the PathFactory board of directors, while other Uberflip executives will assume “key roles” within PathFactory.
The two firms “share a common vision for how B2B marketers can use generative AI to deliver better buying experiences that increase engagement and drive revenue,” Ganesan said in a statement, adding that the companies’ cultures are aligned.
Both firms were founded in 2012 and help marketers automate and personalize their account-based marketing campaigns, as well as deliver insights on the targeted market engaging with the campaign. PathFactory says the combined entity’s customer list includes firms such as Nvidia, Amazon, Thomson Reuters, and more.
Uberflip laid off approximately 17 percent of its workforce in August 2022, prompting co-founder and then-CEO Yoav Schwartz to cite “the current unsteady economy.” Schwartz and fellow co-founder Randy Frisch stepped away from the company in August 2023. Schultz was then appointed CEO in November 2023 to bring a “refreshed strategic vision” to Uberflip.
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Uberflip will not change its name in the “foreseeable future” and will continue to exist as a legal entity. PathFactory said it retained all Uberflip account directors, customer success managers, and customer support and technical account managers as part of the combined company, so existing Uberflip customers should not experience a service interruption.
Last month, PathFactory released ChatFactory, a generative AI-powered chatbot agent that can be trained on account-specific marketing materials and answers questions for potential customers, as well as generating “microsites” that come with account-specific information. PathFactory says the AI solution is targeted to enterprise buyers who want personalized, self-service solutions.
Toronto-based private equity firm Vertu Capital has held a majority stake in PathFactory since 2021, with its investment helping the company scale, expand its sales and marketing, and invest in data science and engineering, according to PathFactory.
UPDATE (07/15/24): This story has been updated to clarify PathFactory’s generative AI offerings.
Feature image courtesy Headway via Unsplash.