LinkedIn has acquired Drawbridge, a company which helps companies better understand their customers using AI and machine learning (ML), for an undisclosed amount.
The professional networking firm revealed it had purchased Drawbridge in a blogpost which also revealed that LinkedIn Marketing Solutions has accelerated its growth to 46% year over year in revenue. LinkedIn explained that it would be using Drawbridge's technology to enhance this platform.
The company wrote: "We believe Drawbridge's team and technology will allow us to accelerate the capabilities of our Marketing Solutions platform, helping our customers better reach and understand their professional audiences and measure the ROI of their campaigns across mobile and desktop."
Drawbridge, which is headquartered in Silicon Valley, was founded in 2011 by Kamakshi Sivaramakrishnan and raised almost $69m as a private venture, with significant backing from Sequoia and Kleiner Perkins. It addresses user-centric issues, including customer experience, digital security and risk detection.
Drawbridge is the 22 nd known company that LinkedIn has purchased, and its second in the last eight months since its acquisition pace slowed down after a busy 2015 and 2016. It last bought Glint, an employee engagement platform, for a reported $400m in October 2018.
LinkedIn itself was purchased by Microsoft for $26.2bn in 2016.