Intuit Acquires Data Analytics Startup Origami Logic

Software company Intuit Inc. announced on Tuesday an agreement to acquire Silicon Valley-based data analytics startup Origami Logic Inc. The acquisition, expected to close during the fourth quarter of the fiscal year 2019, will help Intuit deliver personalized insights to customers, Intuit CEO Sasan Goodarzi said in a statement.

Founded in 2011 by three Israeli serial tech entrepreneurs, Origami Logic offers market performance and market insight analytics to brands including Kellogg's, Procter & Gamble Co., beverage and brewing company Anheuser-Busch InBev SA/NV, and British distiller Diageo PLC. In its last round, held in January 2018, the company raised $15.2 million, bringing its total funding to date to $64.5 million.

While Intuit and Origami Logic did not provide the financial details of the deal, one person familiar with the matter who spoke with Calcalist on condition of anonymity said Intuit did not pay much more than Origami Logic's total funding raised. Intuit stated the transaction has no material impact on its guidance for the full fiscal year 2019.