(Bloomberg) — Nvidia Inc. has agreed to buy Shoreline.io Inc., a startup for software developers founded by a former Amazon Web Services Inc. executive, according to people familiar with the matter.
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The deal closed recently and values Shoreline at about $100 million, said the people, who asked not to be identified discussing the matter as it is private.
Representatives for Nvidia and Shoreline declined to comment.
Shoreline, based in Redwood City, California, develops software that detects problems and incidents in computer systems and automates the process of fixing them. The company was founded in 2019 by Anurag Gupta, who spent about eight years at AWS.
Nvidia has become the world’s most valuable company by becoming a central player in building the computer systems needed to develop and run artificial intelligence software. The company is buying up startups one after another, but as a company with a $3.3 trillion market capitalization, it doesn’t always publicize purchases that aren’t important to the company.
Nvidia has been adding new features – software, networking and pre-trained AI models – to make the technology more accessible to a wider range of users. It also wants to diversify its revenue streams away from its heavy reliance on companies such as Microsoft Corp. and Amazon.com Inc., which dominate the cloud-computing industry and with which Nvidia works with businesses.
Shoreline has raised about $57 million, according to data provider Pitchbook, and is backed by investors including Dawn Capital, Insight Partners and Canvas Ventures.
(Updated with Shoreline’s response in third paragraph.)
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