Rocket Software Acquires Geniez AI For Up To $100 Million To Enhance AI Initiatives

Rocket Software has acquired Israeli AI startup Geniez AI in a deal estimated at up to $100 million, just one year after the company announced its $6 million seed funding round. Co-founded by CEO Gil Peleg and Dan Shprung, both graduates of the Israel Defense Forces’ Mamram computing unit, Geniez AI has a team of just six employees and develops AI agents that help enterprises manage, monitor, troubleshoot, and modernize mainframe systems. Following the acquisition, its technical leadership and engineering team will join Rocket Software to advance its AI initiatives, including its Rocket EVA platform, with the goal of automating mission-critical workflows, reducing operational complexity, and addressing the shortage of skilled mainframe professionals. FOUNDERS: Andy Youniss & Johan Magnusson Gedda AMOUNT: $100,000,000 HQ: Waltham, Massachusetts #VentureCapital #RocketSoftware #GeniezAI #TradedVC