Boomi acquires Israeli data management startup Rivery in $100M deal
Boomi acquires Israeli data management startup Rivery in $100M deal
The acquisition strengthens Boomi’s position in no-code data integration as Rivery’s team and technology join its ranks.
Boomi, an American company founded in 2000 specializing in data integration, has announced the acquisition of Israeli startup Rivery. Rivery developed a platform for end-to-end ELT (extract, load, transform) which covers key processes for medium and large enterprises. The startup employs 80 people, all of whom are expected to continue working at the company following the acquisition.
While the financial details of the deal were not disclosed, market estimates place the value at around $100 million, with part of the payment likely to be in Boomi's shares. However, the acquisition is reportedly at a lower valuation than Rivery's last funding round, meaning that only early-stage investors are expected to see significant returns from the deal.
Rivery operates in the data management sector and belongs to the new generation of technology companies offering an intuitive, no-code approach to data management. Its platform is used by over 450 clients worldwide, including Bayer, Citizen, and SodaStream. The company enables IT, data, and marketing organizations to efficiently manage end-to-end data integration processes. Joining forces with Boomi will allow Rivery to further enhance its services and capabilities.
Founded in 2019, Rivery was founded by CEO Itamar Ben Hemo, CTO Aviv Noy, and Chief Architect Alon Reznik—all alumni of Vision.BI, a database engineering services company catering primarily to the local market. To date, Rivery has raised $48 million in three funding rounds, the latest of which was a $30 million Series B round in April 2022, led by Tiger Global. Tiger Global was an active investor in Israeli tech during the boom years of 2020–2021.
The biggest beneficiaries of this deal are Rivery’s three founders, along with dozens of employees and early-stage investors such as Entrée Capital and State of Mind Ventures (SOMV), led by Avi Eyal and Nir Adler, respectively. This is the second significant exit for these funds this year. Earlier, Entrée Capital announced the acquisition of its portfolio company Helios by Snyk, while State of Mind Ventures recorded another exit with Silverfort’s acquisition of Rezonate, both all-Israeli exits. SOMV also backed Perception Point, which was acquired last week by Fortinet.
On October 7, 2023, following Hamas’ murderous attack on Israel, CEO Itamar Ben Hamo, who was on a visit to Israel, volunteered for reserve service and joined the paratrooper brigade. Three months later, on January 8, 2024, he was seriously injured during a rescue operation to save a wounded soldier in Gaza. After three months of recovery and rehabilitation, Ben Hamo returned to his role as CEO in April 2024, resuming full leadership responsibilities.
The American buyer, Boomi, is a private company owned by private equity giants TPG and Francisco Partners. The two firms acquired Boomi from Dell in 2021 for $4 billion. Boomi’s annual revenues reportedly exceed $500 million, making it one of the fastest-growing companies in its sector in the United States. Boomi’s main competitor, MuleSoft, was acquired by Salesforce in 2018 for $6.5 billion.
