Fast-growing Element Data has acquired the technology assets and patent of BehaviorMatrix, a Philadelphia startup that specializes in understanding the emotional responses audiences have to brands.
The “emotional analytics platform” will support the development of Element Data’s Decision Insights Computing Engine (DICE), which uses artificial intelligence and machine learning to help people make decisions based on a broad range of criteria.
“This will enable us to understand the emotional position of people who are discussing making a decision on social media,” Element Data CEO Geoff McDonald told GeekWire. “This will give our customers an understanding of the best way to cater their messages to individuals.”
The acquisition was a cash and stock transaction and Element Data is not disclosing terms of the deal. The Bellevue, Wash. startup is acquiring BehaviorMatrix’s technology but isn’t taking on any members of the Philadephia team.
In July, Element Data closed a $3.5 million funding round, led by returning investor Archibald Cox Jr., who also led the company’s $1.7 million seed round in April. Flying Fish, a new Seattle venture capital firm, also participated in the round. Earlier this year, the company acquired the technology and team of PV Cube, a Seattle-based machine learning startup.