Operations technology startup Predictive has acquired 2338 Technologies, an early-stage, privately-backed startup developing machine learning technologies.
The purchase price has not been disclosed.
2338’s technology will now power PredictiveOps, a SaaS application that is aiming to transform language in hedge fund documents and regulatory filings into useable data for operations planning and automation.
As part of the transaction, 2338’s founder and CEO Carl P Evans III has agreed to join Predictive as co-founder, chief product officer, and corporate counsel. Evans brings over 15 years of software, hardware, robotics, machine learning development, and technology management experience to Predictive.
Prior to founding 2338, Evans was an intellectual property lawyer in Sidley Austin’s technology transactions practice, where he advised Silicon Valley start-ups and some of the world’s largest technology companies. He is also a registered patent attorney.
“We are thrilled that Carl has joined the founding team at Predictive – he brings a unique collection of skills, talent, technology, and know-how we need,” says Predictive CEO Raj Sultanian (pictured).
The acquisition marks a six-year homecoming for Evans and Sultanian, who last worked together on early-stage Internet of Things (IoT) start-up SmartSense Technology when they were both JD-MBA candidates at Northwestern University’s Kellogg School of Management and Pritzker School of Law.
PredictiveOps’ conditional reasoning engine will use this data to understand action and decisions, saving time and cost associated with increasingly manual processes in private fund operations. The product is scheduled to exit private beta next month.
