AI firm acquires Elastech to expand data, cloud services
ARKANSAS, UNITED STATES — Technology and outsourcing firm Elastech has been acquired by artificial intelligence company BOND.AI to strengthen its financial technology services.
The Utah-based Elastech, led by industry veteran Scott Llewelyn, will amplify BOND.AI’s data and cloud capabilities as it expands the reach of its Empathy Engine technology.
Integrating Elastech represents a strategic expansion for BOND.AI, with Llewelyn heading the new Professional Services division.
This partnership aims to streamline artificial intelligence (AI) adoption in finance, making advanced technology more accessible and cost-effective for financial institutions.
The acquisition enhances BOND.AI’s position in creating personalized banking experiences by leveraging Elastech’s expertise to deliver impactful customer insights. This will improve the financial well-being of BOND.AI’s banking clients.
This is BOND.AI’s first acquisition, according the Crunchbase. The AI company has secured $5.6 million through six funding rounds, with the most recent capital infusion coming from a debt financing round in September 2022.
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