Top Private Equity-Backed AI & Machine Learning Acquirers

Tracked deals

173

173 tracked deals across 2019-2026.

Buyer mix

Mixed buyer set

163 pe · 116 strategic

Top trend

Volume peaked in 2025

40 tracked deals announced in 2025.

Buyer Snapshot

Top Buyers

Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.

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Buyer # Deals Focus Type
Insight Partners 5 Global software investor providing growth equity and expa... PE
FTV Capital 3 Growth equity investment firm focused on enterprise techn... PE
MML Capital Partners 3 International mid-market private equity investor that par... PE
Qlik 3 Provider of an end-to-end, real-time data integration and... Strategic (PE-backed)
Trive Capital 3 Dallas-based private equity firm that invests equity and ... PE
Blackstone 2 Global alternative asset manager that backs and operates ... PE
Boathouse Capital 2 Private equity firm investing in high-growth middle-marke... PE
CUBE 2 Provider of Automated Regulatory Intelligence (RegTech) R... Strategic (PE-backed)
Carlyle 2 Global investment firm deploying private capital across p... PE
Hg 2 Investor focused on European and transatlantic technology... PE

Acquisition Volume in Private Equity-Backed AI & Machine Learning by Year

Last 8 years

Acquisition volume by year Annual acquisition counts for the last 8 years for Top Private Equity-Backed AI & Machine Learning Acquirers. 9 2019 13 2020 20 2021 14 2022 20 2023 26 2024 40 2025 ~60 est. 31 2026
Actual Full-year estimate

Supporting Data

Recent Transactions

  • Buyer
    Straive
    Target
    NextGen Invent
    Seller
    NextGen Invent, Novistra Capital (exclusive sell-side advisor)
    Type
    Buyout

    Straive, a data and AI operationalization services provider, announced its acquisition of NextGen Invent, an AI engineering and enterprise services company. The deal is aimed at expanding Straive’s ability to develop, deploy, and scale AI solutions for complex enterprise workflows, leveraging NextGen Invent’s forward-deployed engineering model and vertical expertise in life sciences and manufacturing.

  • Buyer
    Blackstone, Apollo, FS KKR Capital Corp., Investor group led by Blackstone, Apollo and FS KKR Capital Corp.
    Target
    Medallia
    Seller
    Thoma Bravo

    Medallia entered into a recapitalization agreement with its lenders to strengthen its financial foundation, including a planned reduction in outstanding debt and $150 million of new capital. Upon completion, ownership will transition from Thoma Bravo to an investor group led by Blackstone, Apollo, and FS KKR, with closing expected before year-end subject to customary conditions and regulatory approvals.

  • Buyer
    Flatirons Solutions
    Target
    Scope AR
    Seller
    TELEO Capital Management, LLC (context: acquires via its portfolio company), Scope AR (shareholders not specified)
    Type
    Addon

    TELEO Capital Management’s portfolio company, Flatirons Solutions, acquired Scope AR to combine intelligent visual work instructions and remote expert technology into a single industrial AI platform. Scope AR will operate under the Flatirons Solutions brand, and the combined company will be headquartered in Boulder, Colorado.

  • Buyer
    JMI Equity
    Target
    SewerAI

    SewerAI, an AI platform for sewer and underground infrastructure intelligence, announced a major strategic growth equity investment led by JMI Equity. The round includes continued participation from Innovius Capital, Epic Ventures, and Bentley Systems, with funds intended to accelerate AI-driven inspection, assessment, rehabilitation planning, and asset management capabilities.

  • Buyer
    Neurealm
    Target
    Veersa
    Location
    United States
    Type
    Buyout

    Neurealm, an AI-first technology services company backed by Kedaara Capital, announced the acquisition of Veersa. The deal expands Neurealm’s healthcare portfolio and accelerates its push toward Agentic AI by combining Veersa’s AI modernization delivery with Neurealm’s AI platform, NeuGAIN.

  • Buyer
    Kaos Capital Ltd.
    Target
    BioRestorative Therapies, Inc.
    Location
    United States

    Kaos Capital Ltd. acquired a 4.9% stake in BioRestorative Therapies, Inc. (NASDAQ: BRTX) through open-market purchases. The hedge fund says BRTX should consider a comprehensive strategic review and potentially pivot into broader AI opportunities, and it plans to seek an immediate meeting with the board to discuss strategy and governance.

  • Buyer
    Axiom Intelligence Acquisition Corp 1
    Target
    Terra Quantum AG
    Location
    Switzerland
    Type
    Buyout

    Terra Quantum AG entered a definitive business combination agreement with Axiom Intelligence Acquisition Corp 1 to take the quantum technology company public on Nasdaq under the ticker symbol “TQ.” The deal values Terra Quantum at an implied equity valuation of approximately $3.5 billion (and implied pro forma enterprise value of about $3.6 billion, assuming no redemptions).

  • Buyer
    Anthropic, Blackstone, Hellman & Friedman
    Target
    Fractional AI
    Type
    Buyout

    Anthropic’s Blackstone- and Hellman & Friedman-backed enterprise services joint venture acquired Fractional AI, an applied AI implementation firm based in San Francisco. The acquisition provides the new (as-yet-unnamed) venture with Fractional’s delivery team to help midsize businesses deploy Anthropic’s Claude into core operations.

  • Buyer
    FortyAU
    Target
    Ronin Consulting
    Type
    Addon

    FortyAU, a Nashville-based digital engineering and AI solutions firm, announced its acquisition of Ronin Consulting, a Nashville software engineering and AI development firm focused on enterprise clients in healthcare, financial services, and defense. The companies said the combination expands FortyAU’s AI and data capabilities, engineering talent, and account management discipline; financial terms were not disclosed.

  • Buyer
    Bounteous
    Target
    Cartesian
    Seller
    Blackstreet Capital Holdings, LLC
    Location
    United States
    Type
    Buyout

    Bounteous, a New Mountain Capital-backed AI services firm, announced it will acquire Cartesian, a specialist consulting firm focused on telecommunications, media, and technology, to strengthen data, analytics, and enterprise AI capabilities. The deal is aimed at addressing enterprise “data foundations” challenges that determine whether AI investments translate into measurable business outcomes.

  • Buyer
    Planet First Partners, Business Development Bank of Canada (BDC), Export Development Canada (EDC), Bell Ventures, Firgun Ventures, InBC Investment Corp., Mubadala Capital
    Target
    Photonic Inc.
    Location
    British Columbia, Canada

    Photonic Inc. announced the final close of an investment round of over $200 million USD (about $275 million CAD), bringing total capital raised to over $350 million USD. The round is led by Planet First Partners and includes new investors Business Development Bank of Canada (BDC), Export Development Canada (EDC), Bell Ventures, Firgun Ventures, InBC Investment Corp., and existing investor Mubadala Capital, with Evercore as sole placement agent.

  • Buyer
    Atlassian Ventures
    Target
    Riffle Resilience

    Riffle Resilience, an AI company focused on operational resilience, launched its application on the Atlassian Marketplace during Team '26 with investment from Atlassian Ventures. The funding supports continued development of an Atlassian-native platform that embeds resilience into everyday operational workflows (e.g., Jira and Jira Service Management).

  • Buyer
    Hg, AllianceBernstein
    Target
    Teamworks

    Teamworks, the operating system for elite sports, announced a growth investment led by Hg that more than doubles Hg’s total investment in the company to $200 million. The round, which also includes participation from AllianceBernstein, pushes Teamworks’ valuation to above $1.5 billion and is aimed at accelerating AI and data infrastructure and further sports-tech acquisitions.

  • Buyer
    Booz Allen Ventures, Booz Allen Hamilton (Booz Allen)
    Target
    NODA AI

    Booz Allen Hamilton’s corporate venture arm, Booz Allen Ventures, made a strategic Series A investment in NODA AI, an Austin, Texas-based autonomy orchestration company. NODA AI provides an integration layer that enables military operators to orchestrate heterogeneous, multi-domain autonomous systems across platforms and providers.

  • Buyer
    Banneker Partners
    Target
    ResFrac Corporation

    Banneker Partners announced a platform investment in ResFrac Corporation, which develops a fully integrated reservoir simulation and hydraulic fracturing software platform. The investment is intended to support ResFrac’s ongoing platform innovation, expansion into adjacent capabilities, and scaling of its team and roadmap.

  • Buyer
    Blue Star Innovation Partners
    Target
    IntusCare

    IntusCare, an AI-powered technology platform for Program of All-Inclusive Care for the Elderly (PACE) and complex senior care providers, announced a majority growth investment and partnership with Blue Star Innovation Partners. The investment is intended to accelerate development of IntusCare’s end-to-end ecosystem using AI, automation, and analytics to support scaling compliant technology nationwide.

  • Buyer
    Lime Rock New Energy
    Target
    Boulder Imaging, Inc.

    Boulder Imaging, a provider of ultra-high speed machine vision technologies for wind energy and manufacturing, received a significant growth investment from Lime Rock New Energy (LRNE). The recapitalization is intended to accelerate Boulder Imaging’s global growth, product innovation, and entry into new markets and industry verticals, while founder-CEO Carlos Jorquera and President/COO Don Mills retain meaningful ownership.

  • Buyer
    Sound Ventures
    Target
    OpenAI

    Ashton Kutcher’s venture firm, Sound Ventures, invested $30 million in OpenAI in 2019. The stake is now reportedly valued at about $1.3 billion based on a recent funding round valuing OpenAI at $852 billion.

  • Buyer
    Riveron, Kohlberg, H.I.G. Capital
    Target
    Cuesta Partners

    Riveron, a business advisory firm backed by Kohlberg, announced a strategic investment and growth partnership with Cuesta Partners. The deal combines Riveron’s finance and CFO-focused advisory capabilities with Cuesta’s AI and data technology services to deliver AI-native solutions to middle-market clients.

  • Buyer
    Woven Solutions
    Target
    Valence
    Type
    Addon

    Woven Solutions announced it has acquired Valence as part of its strategy to add commercial technology capabilities to its national security software portfolio. Valence provides mission planning, operational technology integration, and strategic communications capabilities, including offerings such as Valence Playbook and Valence Fusion focused on responsible, secure AI integration.

  • Buyer
    Blackstone (private equity funds affiliated with the firm), Teachers' Venture Growth, TVS Capital, 360 ONE Assets, Nexus Venture Partners
    Target
    Neysa
    Location
    India

    Private equity funds affiliated with Blackstone, together with co-investors, entered into definitive agreements to invest in Neysa, enabling a total $1.2 billion capital raise. The funding is intended to accelerate the buildout of India’s AI infrastructure, including scaling deployment of more than 20,000 GPUs across India.

  • Buyer
    Trive Capital
    Target
    PavCon

    Dallas-based private equity firm Trive Capital has made an investment in PavCon, a provider of predictive analytics and decision‑support software serving U.S. defense customers. The partnership will fund PavCon’s growth—investing behind its talent, technology and scalable operating model—to accelerate delivery of AI-driven predictive solutions; financial terms were not disclosed.

  • Buyer
    Gemspring Capital, FORM (GoSpotCheck / FORM OpX)
    Target
    Trax Ltd. Image Recognition business (non-China)
    Seller
    Trax Ltd.

    Trax Ltd. has divested its non-China Image Recognition (IR) business to an affiliate of Gemspring Capital. The acquired unit will be merged with FORM (creators of GoSpotCheck and FORM OpX) to form a combined company focused on retail execution and shelf intelligence, while Trax Ltd. retains Shopkick, Survey and LenzTech and pursues a more focused portfolio strategy.

  • Buyer
    B Capital, Google, Mercedes-Benz, PEAK6, AT&T Ventures, John Deere, Qatar Investment Authority (QIA)
    Target
    Apptronik

    Apptronik, a human-centered robotics company, closed a $520 million Series A-X extension round following an oversubscribed initial Series A raise in 2025, bringing its Series A total to more than $935 million. The new funding will ramp production of its Apollo humanoid robot and expand global commercial and pilot deployments across manufacturing and logistics (with future expansion planned for retail and healthcare).

  • Buyer
    Woven Solutions, Falfurrias Management Partners
    Target
    Apira Technologies
    Type
    Buyout

    Woven Solutions, a provider of AI-enabled mission software for the national security community, announced it has acquired Apira Technologies. Apira develops software tools for sensitive cyber and information operations, including capabilities in computer vision, machine learning, and AI systems used for synthetic media detection and secure digital engagement.

  • Buyer
    Sauvegarder Investment Management (SIM IP)
    Target
    Garden Intel
    Type
    Buyout

    Sauvegarder Investment Management (SIM IP) and AI-driven patent intelligence firm Garden Intel have closed a merger that values Garden Intel at $150 million. The combined company will operate under the SIM IP brand, integrating Garden's agentic AI infrastructure with SIM IP's IP monetization platform to scale patent-based investing and prepare for the public markets.

  • Buyer
    MiddleGround Capital, New Eagle
    Target
    Pi Innovo
    Seller
    Dana Incorporated
    Location
    United States
    Type
    Addon

    MiddleGround Capital acquired Pi Innovo from Dana Incorporated and will integrate Pi Innovo into its portfolio company, New Eagle. Pi Innovo designs and develops open platform electronic control systems and control software, complementing New Eagle’s proprietary hardware and software controls technology and Raptor toolchain.

  • Buyer
    Banyan Software
    Target
    Gini
    Location
    Bavaria, Germany
    Type
    Buyout

    Banyan Software has acquired Gini, a Munich-based provider of AI-driven document-intelligence and payment solutions for banks, insurers and e-commerce businesses. Gini will continue to operate independently with its leadership and brand intact while Banyan provides long-term capital, operational support and resources to expand Gini’s product and market reach across banking, private health insurance and e-commerce.

  • Buyer
    DC Capital Partners
    Target
    Knexus

    DC Capital Partners announced it has made a majority investment in Knexus, an applied AI provider serving complex, mission-critical U.S. government programs. The investment is intended to support Knexus’s next phase of growth across business development, technology, and operations.

  • Buyer
    Southfield Capital
    Target
    Contextual.io
    Type
    Buyout

    Southfield Capital acquired Contextual.io, an AI orchestration platform and AI solutions provider, and plans to embed its capabilities into Southfield’s lower-middle-market partnership/value-creation model. Financial terms were not disclosed.

  • Buyer
    ConnectWise
    Target
    zofiQ
    Location
    Ontario, Canada
    Type
    Buyout

    ConnectWise has acquired zofiQ, an agentic AI company that automates high-volume MSP service desk operations, embedding zofiQ agents into ConnectWise PSA workflows. The acquisition is intended to accelerate ConnectWise's "Age of Autonomous Service," extend agentic automation across its platform (PSA, RMM, cybersecurity, data protection), and help MSP partners scale service delivery without proportionally increasing headcount.

  • Buyer
    KMS Technology
    Target
    Addepto
    Location
    Poland
    Type
    Buyout

    KMS Technology, a U.S.-based digital engineering and AI services firm, has acquired Addepto, a fast-growing AI and data consulting company headquartered in Warsaw, Poland. The acquisition expands KMS's AI and data engineering capabilities and extends its direct presence in Europe while giving Addepto access to broader international markets and enterprise clients.

  • Buyer
    Seven2, Apax (Apax Development Fund II)
    Target
    ILLUIN Technology
    Location
    Île-de-France, France
    Type
    Buyout

    Seven2, a Pan‑European mid‑market private equity firm, has acquired a majority stake in French AI software and consulting firm ILLUIN Technology, with CEO and co‑founder Robert Vesoul retaining a significant stake. The investment—made via Apax Development Fund II—will support ILLUIN’s product and R&D scaling, commercial expansion and European growth.

  • Buyer
    Cision
    Target
    Trajaan
    Location
    Île-de-France, France
    Type
    Buyout

    Cision has acquired Trajaan, a Paris-based search intelligence platform, to accelerate Cision's AI and data strategy and integrate always-on, geo-localized search behavior and generative AI analytics across its products. The deal builds on a prior Brandwatch–Trajaan partnership and aims to give marketing, communications and insights teams unified, predictive visibility into consumer intent and trend formation.

  • Buyer
    Perceptive Capital Solutions Corp (PCSC), Perceptive Advisors, RA Capital
    Target
    Freenome Holdings, Inc., StarNet Merger Sub I, Corp., StarNet Merger Sub II, LLC
    Type
    Buyout

    Perceptive Capital Solutions Corp (PCSC) and Freenome Holdings agreed to merge in a SPAC transaction that is expected to take the cancer-detection company public, providing approximately $330 million in fresh capital (assuming no redemptions). The deal includes a $240 million PIPE led by Perceptive Advisors and RA Capital and is expected to close in the first half of 2026 / July 2026 subject to approvals and customary conditions.

  • Buyer
    SAI360
    Target
    Plural Policy
    Location
    District of Columbia, United States
    Type
    Buyout

    SAI360 has acquired Plural Policy, an AI-driven regulatory intelligence company that applies LLMs to analyze legislative and regulatory text at scale. The deal integrates Plural's legislative AI capabilities into SAI360's Regulatory Compliance Management module to expand AI-native compliance features; financial terms were not disclosed.

  • Buyer
    Bullhound Capital, Triatomic Capital, Temasek, Qatar Investment Authority (QIA), EDBI, M12 (Microsoft's Venture Fund), Mirae Asset, Industry Ventures, Nautilus Venture Partners
    Target
    d-Matrix

    d-Matrix raised $275 million in an oversubscribed Series C led by Bullhound Capital, Triatomic Capital and Temasek, valuing the company at about $2.0 billion. The round — which included new investors QIA and EDBI and follow-on participation from M12, Mirae Asset, Industry Ventures and Nautilus Venture Partners — will fund product roadmap acceleration, global expansion and large-scale deployments of its AI inference data center platform.

  • November 4, 2025
    Buyer
    Glassbox
    Target
    Anodot
    Type
    Buyout

    Glassbox, a provider of digital experience analytics, has acquired Anodot, a real-time anomaly detection company that uses unsupervised machine learning. The integration will embed Anodot’s anomaly-detection engine into Glassbox’s platform to provide earlier, more granular detection of user-behavior, performance and business anomalies for enterprise customers.

  • Buyer
    PatientNow
    Target
    Recura
    Type
    Buyout

    PatientNow has acquired Recura, an AI-powered growth engine that automates lead response, booking, and retention for aesthetic and elective medical practices. The acquisition will integrate Recura's conversational AI and booking automation into PatientNow's practice management platform to drive appointment conversion and revenue growth while Recura continues to operate standalone for non-PatientNow customers.

  • Buyer
    CUBE
    Target
    Kodex AI
    Location
    Berlin, Germany
    Type
    Addon

    CUBE has acquired Kodex AI, a Berlin-headquartered startup that builds agentic AI for regulatory compliance and risk management. The deal adds Kodex AI's agent-based AI capabilities and Berlin-based team to CUBE's RegPlatformTM, expanding CUBE's AI capabilities and European footprint; financial terms were not disclosed.

  • Buyer
    Marlin Equity Partners, First Analysis, HealthX Ventures, Bogdan Nedelcu
    Target
    Intelligent Locations

    Marlin Equity Partners completed a growth investment in Intelligent Locations, a Raleigh-based provider of AI-powered real-time location system (RTLS) software for healthcare organizations. The funding will support further development of Intelligent Locations' INTRAX platform; First Analysis also participated while founder Bogdan Nedelcu and HealthX Ventures will retain significant stakes.

  • Buyer
    OfficeSpace Software
    Target
    Dojo AI
    Type
    Addon

    OfficeSpace Software has acquired Dojo AI, embedding Dojo's patented space-planning and workplace analytics AI into OfficeSpace's workplace management platform. The deal (OfficeSpace is backed by Vista Equity Partners and Resurgens Technology Partners) positions OfficeSpace as an AI operating system for the built environment, accelerating planning cycles, automating planner workloads, and improving occupancy and portfolio optimization.

  • Buyer
    DigitalNet.ai, Ulysses Management
    Target
    Harmonic AI, Zillion Technologies, Axis Group
    Seller
    Founders of Harmonic AI, Zillion Technologies and Axis Group
    Location
    United States
    Type
    Buyout

    DigitalNet.ai, formed by technology entrepreneur Dr. Ken Bajaj in partnership with Ulysses Management, launched as an enterprise AI solutions provider following the acquisitions of Harmonic AI, Zillion Technologies and Axis Group. The new, PE-backed company combines a proprietary JanusAI agentic platform with data analytics, digital transformation and cybersecurity capabilities to serve commercial and government clients.

  • Buyer
    EQT Growth
    Target
    Harvey

    Harvey, a domain-specific AI provider for legal and professional services, has received a €50 million growth investment from EQT Growth to support rapid international expansion. The capital is part of an extended Series E round that follows a $300 million Series E led by Kleiner Perkins and Coatue earlier in 2025.

  • Buyer
    Battery Ventures
    Target
    Signal AI
    Location
    United Kingdom

    Signal AI, a global risk and reputation intelligence platform, announced that Battery Ventures has agreed to lead a significant growth-equity investment. Battery will hold a majority stake, while existing minority investors Highland Europe, Mercuri, and MMC Ventures will retain minority positions. The transaction is expected to close in Q4 2025, subject to customary closing conditions.

  • Buyer
    Baird Capital
    Target
    EvoluteIQ
    Location
    Sweden

    Baird Capital has made a $53 million growth investment in EvoluteIQ, an AI-native platform that automates end-to-end business processes. The funding will be used to accelerate EvoluteIQ's global expansion and scale its enterprise agentic AI capabilities across industries including banking, insurance, healthcare, telecom and manufacturing.

  • Buyer
    Longshore Capital Partners
    Target
    DemandTec
    Seller
    Acoustic, L.P.

    Longshore Capital Partners completed a strategic growth investment in DemandTec, the AI-powered retail pricing and merchandising software provider, establishing DemandTec as an independent, PE-backed company. The transaction (reported as a sale of the DemandTec business by Acoustic, L.P.) positions DemandTec to accelerate its AI and product investments, expand commercial reach, and deepen leadership in pricing, promotions, markdown optimization and trade fund management for retailers and CPGs.

  • Buyer
    Level Equity
    Target
    Osprey Flight Solutions
    Location
    England, United Kingdom

    Level Equity has provided more than £40 million in growth capital to Osprey Flight Solutions to accelerate product development and global expansion. Existing majority investor 24Haymarket and angel investors will remain minority shareholders; the funding will support integration of generative AI and next-generation risk intelligence for airlines, insurers and governments.

  • Buyer
    Comply365, LLC, Insight Partners, Liberty Hall Capital Partners
    Target
    Beams Technology GmbH
    Seller
    Beams shareholders
    Location
    Berlin, Germany
    Type
    Buyout

    Comply365, a portfolio company of Insight Partners and Liberty Hall Capital Partners, has acquired Beams Technology GmbH, a Germany‑based provider of AI-driven safety risk management for aviation. The deal strengthens Comply365’s AI capabilities and advances its strategy to build an AI-powered platform across operations, safety, and training management for its global customers.

  • Buyer
    Nimble Gravity, Rallyday Partners
    Target
    Fog Solutions
    Type
    Buyout

    Nimble Gravity, a global consultancy focused on AI, data, and software engineering, has acquired Fog Solutions, a data and AI firm known for expertise in Microsoft Azure and Databricks. The deal adds about 50 data and AI experts (primarily in the U.S.) and expands Nimble Gravity’s ability to deliver AI-enabled cloud data solutions across the data value chain.

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