Ripcord Acquires Engine ML
Let’s face it, 2020 has been a challenging year for all of us to deal with and the worst of this health and economic crisis is not over yet! We’ve been forced into quarantine for months, worried about the physical and mental health of our loved ones, prayed for the healthcare heroes and other essential workers and watched as the political climate divided the nation.
As offices and workplaces across the country shuttered their physical locations and turned to collaborative software, video calls and online file sharing to keep employees productive and effective, many people struggled to succeed professionally without access to paper-based records or exiled digital data. Working from home was already prevalent prior to COVID 19. However, as a result of the pandemic, a study by PwC found that more than 83% of employees surveyed want to work at home at least one day a week post-COVID while 32% say they would prefer to never go back to the office.
In this spirit, Ripcord is proud to announce we have acquired the assets of deep machine learning company Engine ML enabling us to accelerate our vision to take the world paperless and provide companies and organizations with access to the critical information and data they need to operate, make critical decisions and become more competitive. At a time where more people than ever are working remotely, our technology has never been more important. The integration of Engine ML’s technology will help train data models up to 100 times faster and eliminate silos by quickly interpreting and creating searchable indexes of data in the cloud. More importantly, we are delivering on our promise of rapid innovation as Engine ML helps us hasten the development of technology to identify actionable insight in exiled data to make better, intelligent and more-informed business decisions.
We’re also pleased to share that Engine ML’s CEO Jeff Kiske and his rock star team are continuing on as Ripcord employees. Jeff and his team officially joined us a few weeks ago and have already contributed to some of our critical customer deliverables. Please join me in welcoming Jeff and his team to the Ripcord family!
Today’s announcement comes on the heels of a record-breaking year of growth and accomplishment for Ripcord as we raised impressive funding, launched a first-of-its kind joint venture with Fuji Xerox, significantly grew our customer base and added new leaders to our executive team. We are poised for even greater things in 2021 and look forward to sharing our continued journey and success with all of you in the New Year.