Capital One acquires machine learning technology startup Notch
Capital One, one of the top 100 America’s 100 largest banks, has acquired a machine learning technology startup, Notch. Notch is a technology startup that applies machine learning and software implementation to deliver unique solutions to customers. The startup was founded in 2014 by Paul Hurlocker and David Der. “We’re thrilled to announce we were acquired by Capital One! Our team is joining their Center for Machine Learning & looks forward to the great things we’ll do together using machine learning and opensource technology – to make them a leader in both,” the company said in a Twitter post. Notch was acquired 15 months after Capital One created an in-house “Center for Machine Learning.”
Notch help clients adopt real-time, distributed platforms and machine learning to fundamentally change the way they leverage their data. Since then, their team of machine learning and data engineering experts have delivered nearly 70 projects to 34 clients — ranging from early-stage startups to Fortune 100 companies — accelerating their ability to harness the size, speed, and fluidity of their data for the greater good of their businesses and their customers’ experience. Notch’s 16-person startup now joined Capital One to work on ways to utilize new, cutting-edge artificial intelligence in the credit card company’s services. “The thing we are really excited about is (Capital One) is trying to harness machine learning for the good of the customer,” said Paul Hurlocker. “There are a number of areas where that can be done.”
Over a year ago, their team started working with the Center for Machine Learning at Capital One. They were immediately impressed by their commitment and progress in the areas their team is passionate about. They saw first-hand how Capital One’s transformative data and machine learning journey has established a foundation upon which they felt their team could make a significant impact. Over the course of their working relationship, it became clear that Capital One would be a natural fit for the Notch team.