A predictive analytic startup firm – Velos has been acquired by AOL for an undisclosed amount and has folded up its services that enabled companies to connect data sets, run predictive models and clean up their database.
The deal went down in the month of March, as stated by Albert Azout - the Founder of LinkedIn Profile, but hadn't been made public until today.
Velos wrote in a note on its homepage, where it has stated that they are happy to announce that Velos – Sociocast Network, LLC - is now a part of AOL Inc., and their services will no longer be available to the general public, and the company is thankful to its audience for supporting their services.
Many predictive analytic startups have been acquired in the past couple of years, including InsightsOne, Cognilytics, and KXEN.
Verizon as of late acquired AOL itself for $4.4 billion.
New York-based Velos started in 2010, initially under the name Sociocast Networks. Investors included Detroit Venture Partners, Bobby Yazdani, Doug Imbruce, Raptor Ventures, and Joe Zawadzki. Clients included Cigna Health, and Quicken Loans.
In 2013 the startup turned to focus not only on individual developers, but also on less technical sound savvy business owners.
Velos's services supported the Hadoop open-source file framework for storing heaps of various kinds of records, and the R and Python programming languages.