Scaleworks acquires Sequoia-backed data start-up Keen IO

Key Points
  • Terms of the deal weren't disclosed.
  • Keen IO raised nearly $30 million in venture capital.
Scaleworks general partner Ed Byrne.
Source: Scaleworks

Scaleworks, a Texas private equity firm focusing on software start-ups, has acquired Keen IO, a start-up with data analytics software aimed at developers. Terms of the deal, which occurred earlier this week, weren't disclosed.

Keen IO raised almost $30 million in venture capital, and in 2014 prominent firm Sequoia Capital led an $11.3 million funding round for the start-up.

Kyle Wild, the start-up's cofounder and CEO, has left, as has COO Will O'Brien. Scaleworks, whose first fund totaled $60 million, will provide Keen IO with finance, recruiting, and communications resources, general partner Ed Byrne told CNBC. Some other Scaleworks companies use Keen's service, Byrne said.

Keen IO was founded in 2011 and is based in San Francisco. Customers include Adobe, InterContinental Hotels Group and Pandora. Competitors include Google Analytics, Kissmetrics and Mixpanel.