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Acquisition

Digital Paper App Goodnotes Acquires Korean AI Startup, Dropthebit, to Accelerate Development of AI Features

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Goodnotes, the leading digital paper app, has announced that it has acquired Dropthebit, the creators of Traw, a service that automatically organizes meeting, lecture, and video content into summarized notes and videos. Following the acquisition, Traw’s generative AI technology will be further enhanced and adopted into the Goodnotes platform.

Kyumin Sim, former CEO and Co-Founder of Traw (left) and Steven Chan, CEO and Founder of Goodnotes.

Since its launch in 2020, Traw has focused its efforts on using technology to automate notes creation, both for a user’s own materials and for the content they find online. Following a seed investment led by Capstone Partners and KB Investment, Dropthebit launched Traw’s initial offering, Traw Whiteboard, in 2022. This smart digital whiteboard for lectures and meetings automatically recorded when a user spoke or drew on the board. Traw then automatically edited the video into meeting minutes with subtitles and distilled the video into a document for easy reading and editing. Last May, the company introduced Traw AI, a tool that automatically organized and summarized YouTube video content. Traw AI could create short video or textual summaries and even extract key information from videos into a table format, transforming the research process.

While this comes as Goodnotes’ first acquisition, this is not the company’s first venture in investment aimed at accelerating improvements to the overall user experience. In late 2023, Goodnotes invested $1.9M into South Korea’s largest digital stationery platform, WeBudding. This strategic investment was the first within a larger initiative to partner with rising startups that offer technology or services that complements the burgeoning digital paper space. AI innovation has been a particular focus for Goodnotes following the 2023 launch of Goodnotes 6, which included the world’s first generative AI for handwritten text and thereby transformed Goodnotes into the world’s first AI-powered digital paper company.

“Like many M&As, the meeting of Goodnotes and Traw was like fitting together forgotten puzzle pieces,” said Kyumin Sim, former Traw co-founder and CEO and now a product lead at Goodnotes. “We’ve put a lot of thought into what digital note-taking should look like, so it’s especially an honor to collaborate with Goodnotes, the world’s most popular note-taking app. I’m excited about the new features this will inspire and the value we’ll bring to many people.”

In addition to leveraging the skilled Traw team to create new ways to enhance AI note-taking features, Goodnotes plans to explore extending its offerings beyond “pen and paper” note-taking, incorporating modalities beyond the stylus, and eyeing new mediums to integrate into the platform.

“When I met the Traw team for the first time in Seoul, I knew right away that the AI tools they’ve built for audio and video recordings are a natural fit for Goodnotes,” said Steven, CEO at Goodnotes. “I was really impressed by not only their innovative ideas, but also their passion and drive. We feel very fortunate to be in a position to acquire small, capable teams like Traw to accelerate our roadmap.”

About Goodnotes
Goodnotes is the leading AI digital paper used by more than 24 million monthly users worldwide. Launched in 2011, Goodnotes started as an improvement to physical paper notes — introducing the ability to take handwritten digital notes, search handwritten text, and organize everything into a digital library. Today, Goodnotes is pioneering generative AI for digital handwriting in the productivity space. Goodnotes was most recently named Apple’s 2022 iPad App of the Year.

About Dropthebit
Dropthebit, established in 2020, is a startup that has been founded to create services to improve everyone’s work efficiency. Its first product, ‘Traw,’ is a service that automatically organizes all content from meetings and lectures on a whiteboard into videos and transcripts. Since this year, it has been launching ‘Traw AI,’ which uses AI technology to organize and convert various data easily.

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Acquisition

PrevTech Innovations acquires Agrivolt to Enforce its Leadership in Electrical Network Safety for the Agricultural Sector

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PrevTech Innovations and Agrivolt have joined forces, introducing an unprecedented offering to the agricultural sector. This acquisition unites their complementary strengths in electrical network safety monitoring and stray voltage control. Together, these two established companies are dedicated to prevention, innovation, and providing solutions and expertise to meet customer needs.

PrevTech Innovations: The leader in Electrical Safety and Prevention
PrevTech is the leader in providing advice-based prevention and power safety solutions. Its dedicated team of experts leverages cutting-edge technology and deep understanding of the industry to help businesses identify and mitigate electrical risks effectively and proactively. The company assists business operators in identifying and mitigating electrical and thermal issues that could evolve into much larger problems. Recognized by leading insurance carriers, PrevTech’s mission is to reduce the risk of electrical fires while providing peace of mind to their clients.

Agrivolt: Experts in Stray Voltage Control for Animal Well-Being
Agrivolt is the established leader and provider of choice in the field of stray voltage detection, control, and mitigation, having served the agricultural market for over 30 years. Their expertise is supported by more than 2,000 customers across North America.  Agrivolt offers a comprehensive range of technologies and certified products designed to detect and neutralize stray voltage, which can be a crucial factor in providing a stress free environment for livestock. Animal welfare and herd productivity are at the heart of Agrivolt’s mission.

A Partnership Rooted in Comprehensive Solutions
Uniting PrevTech Innovations and Agrivolt will provide an unparalleled opportunity in today’s protein industry. Combining PrevTech’s advanced monitoring and risk prevention approach with Agrivolt’s specialized solutions for managing stray voltage, these two companies are poised to deliver comprehensive and integrated solutions for electrical network safety and animal welfare.

“Modern farms use a variety of advanced equipment to maximize productivity, resulting in a significant increase in power consumption. The integration of Agrivolt’s cutting-edge products and unique expertise with PrevTech’s proactive approach enables us to provide a complete solution for the safety and integrity of our customers’ electrical network. By raising awareness of the importance of a safe electrical network on farms, we improve their prevention strategy, increase their resilience to the risk of fire and ensure an electrically stress-free environment for animals”, said Pierre-André Meunier, president and founder of PrevTech innovations, who will also take on the role of president of Agrivolt.

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Acquisition

Digital Solutions Company Marlabs Acquires Onebridge

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Strengthens AI and data analytics capabilities in life sciences and healthcare

Marlabs LLC., a digital solutions company, announced that it has acquired Indianapolis-based Onebridge to accelerate its growth in AI and data analytics space.

Thomas Collins, CEO Marlabs, is all smiles at the successful acquisition of Onebridge, an Indianapolis-based AI and data analytics company

“Marlabs is thrilled to welcome the Onebridge team into the Marlabs family and is excited about the potential the company brings in the AI and data analytics space. Our businesses are highly complementary, each with a rich technological services heritage and a strong focus on life sciences and healthcare. This union will enable our clients to solve their most complex data challenges through a design-first consulting mindset. Onebridge’s proprietary Modern Analytics Platform (MAP) and Comprehensive MAP Assessment (COMPASS) frameworks are genuinely groundbreaking and will contribute significantly to accelerating decision intelligence for clients in their transformation initiatives. These are truly exciting times for us,” said Thomas Collins, CEO, Marlabs LLC.

The acquisition is a significant milestone in Marlabs’ journey toward accelerating its data analytics consulting and execution expertise. Onebridge presents a wealth of specialized expertise in data analytics and AI, with two decades of experience, particularly focusing on sectors such as life sciences, healthcare, and government.

Paul Rothwell, CEO Onebridge, added, “As an Indy-born company with a passion for data analytics and AI, we at Onebridge are thrilled to join Marlabs. This partnership is more than growth; it’s a reflection of shared values and culture. It’s a credit to our team’s dedication, proving that a Midwestern tech firm can make a global splash. We’re eager to bring our expertise to a wider stage and innovate alongside a partner who mirrors our commitment to excellence. This venture with Marlabs is a pivotal step in enabling us to better serve our clients in the rapidly evolving world of data and AI, bringing innovative solutions to the forefront.”

Marlabs highlighted that the acquisition is part of its global expansion strategy. Onebridge was chosen because of its cultural alignment and strong focus on people, its track record of technology excellence in developing a strong data and AI consulting practice, and a strong presence in the life sciences and healthcare industries.

Marlabs has been on an accelerated path toward growth in recent years, having acquired the Brazilian software and data and analytics company Monitora Soluções Tecnológicas in May 2023. The acquisition of Onebridge is expected to enable the company—serving global clients across life sciences and healthcare—explore opportunities across other industry verticals such as manufacturing, retail, telco, media, and financial services. This expansion leverages our deep capabilities in data to deliver accelerated business outcomes.

About Marlabs:

Marlabs helps leading companies around the world make operations sleeker, keep customers closer, transform data into decisions, de-risk cyberspace, boost legacy systems, and capture novel opportunities and digital-led revenues. Marlabs has a global workforce that includes highly experienced technology, platform, and industry specialists from the world’s leading technical universities. The company provides digital-first strategy and advisory services, rapid solution incubation, and agile digital solution engineering. Marlabs is headquartered in New Jersey, with a presence in the US, UK, Canada, Germany, Brazil, and India.

About Onebridge :

Onebridge is an Indianapolis-based full-lifecycle data consulting firm serving some of the largest healthcare, life sciences, manufacturing, financial services, and government entities in the U.S. since 2005. Entirely employee-owned and -operated, Onebridge has been a top “Best Places to Work” in Indianapolis since 2015. The company is also the go-to partner for Strategy, Execution, Enablement (SEE) across Strategic Data Management, Integration and Architecture, Business Intelligence (BI) & Analytics, and Enterprise Application Development.

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This News has been Published in Partnership with PR Newswire

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Acquisition

ESG Software provider Sphera Acquires SupplyShift, a Pioneer in Supply Chain Sustainability Software

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Acquisition enhances the leading ESG firm’s supply chain offering with expanded supplier mapping, scoring and traceability capabilities to further empower customers in creating sustainable supply chains

Sphera, a leading global provider of environmental, social and governance (ESG) performance and risk management software, data and consulting services, announces that it has acquired SupplyShift, a supply chain sustainability software company that empowers businesses to build transparent, responsible and resilient supply chains.

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Founded in 2012 and headquartered in Santa Cruz, California, SupplyShift has built a supply chain network of over 100,000 suppliers, where buyers and suppliers engage and share information quickly in order to manage risk and facilitate supplier regulatory compliance. The solution provides supply chain transparency and supplier mapping at any tier as well as data analytics, supplier scoring and traceability. SupplyShift has customers and business partners around the world, and the company’s portal is used by a variety of customers across industries, from global retailers to Fortune 500 brands.

“SupplyShift has seen tremendous growth with its software solution that allows for direct communication with suppliers and customers and enables the seamless collection of their Scope 3 emissions data, which helps suppliers improve their supply chain ESG performance,” said Paul Marushka, Sphera’s CEO and president. “As more regulations are passed that demand transparency, the SupplyShift solution will become indispensable in meeting global regulatory requirements and stakeholder expectations. Bringing SupplyShift’s portal into the Sphera family will expand our current offerings and enable us to provide unparalleled Scope 3 and ESG tracking and reporting capabilities. We are pleased to welcome SupplyShift’s customers, colleagues and solution to Sphera and look forward to helping our combined customer base accurately track and report their Scope 3 emissions and be compliant.”

Alex Gershenson, SupplyShift’s CEO and founder, said, “SupplyShift was founded on the idea of leveraging software to drive sustainability initiatives, and for 11 years we have been empowering companies to understand their supply chain ESG risk and performance. We are excited to join the Sphera family and take data availability to a new level through the combination of Sphera’s industry-leading ESG data and SupplyShift’s Scope 3 data collection abilities. Through SpheraCloud, Sphera’s SaaS platform, and its LCA solutions, we can help even more customers track their Scope 3 emissions and manage their supply chain sustainability.”

Eli Nagler, Senior Managing Director, and Kelly Wannop, Managing Director, at Blackstone, added, “We are excited to welcome SupplyShift to Sphera and continue investing in this company’s innovative solutions. This planned acquisition supports our commitment to Sphera’s accelerated growth and will bolster the company’s supply chain capabilities for its customers moving forward.”

Reed Smith LLP and Simpson Thatcher & Bartlett LLP served as legal advisors to Sphera and Blackstone, while Evercore and Deutsche Bank Securities Inc. served as the financial advisors. For SupplyShift, VLP Law Group served as the legal advisor and Houlihan Lokey served as the financial advisor.

About Sphera
Sphera is the leading provider of environmental, social and governance (ESG) performance and risk management software, data and consulting services focusing on Environment, Health, Safety & Sustainability (EHS&S), Operational Risk Management (ORM), Product Stewardship and Supply Chain Risk Management (SCRM). For more than 30 years, we have served over 7,000 customers and a million-plus users in 80 countries to help companies keep their people safe, their products sustainable and their operations productive. Learn more about Sphera at www.sphera.com.

About SupplyShift
SupplyShift is a leading provider of supply chain sustainability and responsible sourcing solutions, enabling companies to measure, monitor and improve their environmental, social and economic impact across the supply chain. Through its cloud-based platform, SupplyShift offers a suite of tools and services designed to help businesses identify risks, uncover opportunities and drive positive change in their supply chains.

This News has been Published in Partnership with PR Newswire

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