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Creating new opportunities for investment, speed and scale
MCLEAN, Va., December 09, 2021--(BUSINESS WIRE)--Booz Allen Hamilton (NYSE: BAH) announced today it has completed a transaction to spin out its commercial artificial intelligence (AI) platform Modzy® into a new company, Modzy, Inc.
Modzy, which includes a deep tech software platform and team of AI experts, accelerates the deployment of production-ready AI, provides tools for data scientists and developers to easily integrate AI into enterprise and edge systems at scale, and offers a centralized location for stakeholders to monitor all AI performance; these features help organizations overcome today’s toughest challenges with scaling and monitoring AI-powered systems. Modzy will continue to build upon its existing customer base across commercial and federal markets, expand its partner ecosystem, and grow its developer community.
The spinout follows a similar recent transaction with the cyber threat hunting and detection platform SnapAttack. Booz Allen will maintain a minority ownership stake in Modzy, Inc. Financial terms were not disclosed.
"Our innovation strategy includes a commitment to identifying, evaluating, incubating, and scaling cutting-edge solutions and empowering our innovators to build and scale products that help clients achieve new outcomes faster. By spinning out Modzy, we continue to take a focused approach to accelerating innovation at the intersection of mission and technology," said Susan Penfield, Chief Innovation Officer at Booz Allen.
"Modzy solves the hardest problem with using AI at scale, which is that businesses struggle to deploy and integrate AI into production. Too many models—more than 50%—are developed but never used," said Dr. Josh Sullivan, Modzy Chief Executive Officer & Co-founder. "Modzy will continue to scale rapidly, building on our existing customer base across commercial markets through expansion of our partner ecosystem and developer community to accelerate AI value creation."
About Booz Allen Hamilton
For more than 100 years, military, government, and business leaders have turned to Booz Allen Hamilton to solve their most complex problems. As a consulting firm with experts in analytics, digital solutions, engineering, and cyber, we help organizations transform. We are a key partner on some of the most innovative programs for governments worldwide and trusted by its most sensitive agencies. We work shoulder-to-shoulder with clients, using a mission-first approach to choose the right strategy and technology to help them realize their vision.
With global headquarters in McLean, Virginia, our firm employs approximately 29,200 people globally as of September 30, 2021 and had revenue of $7.9 billion for the 12 months ended March 31, 2021. To learn more, visit www.boozallen.com. (NYSE: BAH)
Built by developers, for developers, Modzy solves the hardest problem with using AI at scale by accelerating the deployment and integration of production-ready AI. Modzy is a ModelOps & MLOps software platform supported by a growing community of data scientists, developers, infrastructure managers, and IT leaders interested in a new approach for model operations. Modzy empowers businesses with a central, transparent solution for managing AI, with tools for data scientists to quickly deploy and monitor models in production, APIs and SDKs for developers to easily integrate AI into any application, and governance features for leaders to monitor AI performance, usage, and costs related to AI. With cutting edge features such as explainability, drift detection, and military-grade security, Modzy helps organizations unlock real value from AI. To learn more visit www.Modzy.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211209005015/en/
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