Walmart has acquired Aspectiva, an Israeli startup founded in 2013 that leverages machine learning to analyze massive volumes of consumer opinions and turn them into valuable insights.
The financial details of the deal were not disclosed.
As part of the acquisition, Walmart said in a statement that Aspectiva will be joining Walmart’s Store No 8, the incubation arm launched by the retailer in 2017 to focus on the future of commerce. Aspectiva’s team will continue to operate from the startup’s offices in Tel Aviv.
“Aspectiva’s Natural Language Processing capabilities will help Walmart further enhance the end-to-end shopping experience,” the company said in a statement.
Aspectiva was founded in 2013 by Ezra Daya and Eyal Hurwitz, and was later joined by Yoad Arad. The company had previously raised $4 million in a funding round led by Jerusalem Venture Partners in addition to Global Brain, Union Five, LivePerson and Re-Invent.
“As the lead investor in the company, we’re thrilled that Walmart has chosen to acquire Aspectiva, a portfolio company of JVP, founded and grown in our JVP Labs in Jerusalem,” the VC firm said in a statement. “We are proud of our JVP Partner and Aspectiva Board Member, Haim Kopans, who has been leading the company since inception until its successful acquisition today. We believe that this will bring new jobs and opportunities to Israel and serve as an additional example of how Israeli innovation is helping shape our world, by bringing together disruptive technologies and key global markets.”
Lori Flees, Principal of Store No 8 said: “Aspectiva has developed incredibly sophisticated machine learning techniques and natural language processing capabilities, both of which are areas we believe will have profound impact on how customers will shop in the future.”
“Israel is a hotbed of tech talent and innovation. We’re thrilled to join the growing community of entrepreneurs in Israel and see it expand within Aspectiva,” Flees added.
Daya said the Aspectiva team was excited to be the Walmart incubator, and to be “part of Walmart’s most recent investment in Israel.”
“Store No 8’s record of innovation and of developing capabilities that will transform retail as we know it makes for the perfect environment to leverage Aspectiva’s technology throughout the shopping funnel,” he said
This is Walmart’s latest venture with Israeli-based technology companies. Walmart has also made a strategic investment in Team8, an Israeli think tank and tech incubator, launched a joint venture with Eko, an interactive media and technology company with offices in Tel Aviv and New York, and recently joined The Bridge, a technology accelerator connecting global companies with the technology startup community in Israel.