As of 1:13 p.m. Pacific Time, a Salesforce spokesperson confirmed to TechCrunch that the startup Moonhub has not been acquired in the traditional sense. Instead, Moonhub is set to shut down, and only a portion of its team will be transitioning to Salesforce, contrary to the implications made in Moonhub's announcement. This clarification comes amidst speculation regarding the nature of the deal between the two companies.
Initially reported as an acquisition, it was stated that Salesforce had quietly acquired Moonhub, a startup focused on leveraging AI for talent vetting and hiring processes. However, details regarding the terms of this deal have not been disclosed. In a statement posted on Moonhub’s website, CEO Nancy Xu mentioned that the entire team based in Menlo Park, California, would be joining Salesforce, highlighting the existing relationship between the two companies. “As a customer and investor, Salesforce has already played a role in Moonhub’s journey,” Xu wrote.
In her announcement, Xu emphasized the alignment of values between Moonhub and Salesforce, particularly in fostering customer trust and a shared belief in the transformative potential of AI agents. “We are excited for the impact we will make together,” she stated, indicating a strong partnership moving forward.
This latest development comes as Salesforce continues its aggressive growth strategy, having recently completed an $8 billion acquisition of Informatica, a provider of data management solutions. In addition, last month, Salesforce acquired Convergence.ai, an automation startup aimed at enhancing its AI product offerings. These acquisitions signal Salesforce's commitment to expanding its capabilities in the rapidly evolving technology landscape.
Founded in 2022 by Nancy Xu, a former engineer at Meta, Moonhub has developed a range of innovative tools designed to assist companies in recruiting, evaluating, and hiring talent. The company's AI technology can automatically identify suitable candidates for various roles and streamline processes like onboarding and payroll management. Moonhub has successfully raised $14.4 million from notable investors, including Khosla Ventures, AIX Ventures, Day One Ventures, and GV (formerly Google Ventures), in addition to early support from Salesforce.
According to Xu, Moonhub has established a strong customer base, including numerous Fortune 500 companies. “By joining Salesforce, we are accelerating our mission in this next chapter,” she added. The transition of Moonhub's talent into Salesforce is expected to play a crucial role in advancing the tech giant's AI strategy, further solidifying its position in the industry.
