(Bloomberg) — Nvidia Corp. has agreed to buy Shoreline.io, a startup for software developers founded by a former Amazon Web Services executive, people familiar with the matter said.
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The deal was recently closed and values Shoreline at about $100 million, according to the people, who asked to remain anonymous because the matter is private.
Representatives for Nvidia and Shoreline declined to comment.
Headquartered in Redwood City, California, Shoreline makes software that finds problems and crashes in computer systems and helps automate processes to fix them. The company was founded in 2019 by Anurag Gupta, who previously spent about eight years at AWS.
Nvidia has become the world's most valuable company by making itself central to building the computer systems needed to create and run artificial intelligence programs. It has been acquiring startups but doesn't always disclose acquisitions that don't matter to it as a company with a market cap of $3.3 trillion.
Nvidia has added new capabilities including software, networking, and pre-trained AI models to make the technology easier to adopt for a broader audience. It also wants to diversify revenue away from heavy reliance on companies like Microsoft Corp. and Amazon.com Inc., which dominates the cloud computing industry and through which Nvidia works with companies.
Shoreline has raised nearly $57 million with backing from investors including Dawn Capital, Insight Partners and Canvas Ventures, according to data provider PitchBook.
(Updates with Shoreline's response in third paragraph.)
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