The deal prices Sana at double its last valuation.
Swedish AI startup Sana has been acquired by Californian human resources software company Workday, in a deal which values the Stockholm-based company at $1.1bn.
Sana was last valued at $500m, at its Series B funding round last October.
The deal makes Workday the latest American industry giant to scoop up a promising European tech startup. Last summer, US chipmaker AMD bought Finland’s Silo AI for $665m, while Salesforce acquired London-based Convergence for an estimated $200m in May.
Sana runs what it calls a “knowledge assistant”, which indexes company information, making it searchable and accessible to employees through the use of AI. Customers include pharmaceutical firms Novartis and Merck and mobility startup Voi.
The company was founded in 2016 and has raised $138m overall from investors including NEA, Menlo Ventures and EQT Ventures.
Workday, which has a market cap of $59.47bn as of 16th September, provides a platform for managing finances and staff.
Sana will continue to develop its core products as part of Workday, the company said in a statement.
