HAYWARD: Ripcord announced the acquisition of deep learning company Engine ML. Backed by Kleiner Perkins and Catapult, Engine ML builds distributed deep-learning infrastructure designed to scale.

Now the integrated solution will enable leading brands in finance, insurance, retail and energy to quickly and easily unlock the power of their data and turn it into actionable insight in days or hours instead of weeks or months.

The business value of semi-structured and unstructured data has been somewhat limited as extracting its intelligence remains a roadblock. Combining Ripcord’s AI and robotics-powered solution with Engine ML’s accelerated machine learning will eliminate these challenges in a way that has never been done before.

Organizations will be able to drive quick and seamless next-generation digital transformation across an organization, speeding up return on investment and operational results from their business content.

“Much of the knowledge of human history remains exiled on paper or within disconnected and disparate digital sources,” said Alex Fielding, CEO of Ripcord.

“For example, data could exist that is inaccessible to the scientist destined to discover the next great medical advancement because it’s trapped in an obscure medical journal or case notes. Simply digitizing exiled data is just the first step; to have a real impact, we need to interpret, understand and make data actionable across – and in relation to – all sources. With Engine ML and Ripcord, we will help make the dream of leveraging all the available intelligence to impact the world a reality.”

Speaking about the acquisition, Apple Co-Founder and Ripcord Board Member Steve Wozniak commented: “The best acquisitions are the ones that capture your imagination. This acquisition strengthens Ripcord’s ML and AI technology, allowing us to deliver more value for our customers. Our technology is always learning and improving to make better decisions – and with this acquisition, it’s now deep learning on an entirely different level.”

Added Engine ML CEO Jeff Kiske: “We’ve built our technology to be up to 100 times faster than the industry standard to supercharge model development and drive rapid innovation. With our solution enhancing Ripcord’s SaaS content platform, customers will have unprecedented access to the intelligence to take their digital transformation initiatives to the next level.”

Engine ML empowers innovators by training machine learning models in a way that’s simple, fast, and painless. Data scientists and engineers use Engine ML to develop their models at scale with reproducibility. We help data scientists and engineers use the right infrastructure, whether it is GPU server or a fleet of preemptible cloud VMs.

Ripcord is powering digital transformation through Robotic Process Automation utilizing robotics, software and AI. Ripcord’s robots automatically scan, index and categorize paper records, making them searchable and accessible in the cloud. Ripcord Canopy, a content services platform that resides in the cloud, provides enterprise customers the ability to manage, search, and seamlessly integrate their digitized content with existing business processes. www.ripcord.com