SAP buys TechWolf in record Belgian VC-backed deal

German software giant SAP is acquiring Belgian AI startup TechWolf in a record venture-backed software company deal, the startup confirmed. The acquisition is expected to be the largest of its kind in Belgian history, according to TechWolf. SAP plans to integrate TechWolf into its talent and workforce strategy. TechWolf, founded in 2018 and headquartered in Ghent, employs over 120 people and has attracted backing from notable venture capital firms including Felix Capital, Notion Capital, and 20VC's Harry Stebbings, as well as AI leaders from DeepMind and Meta.

The startup has raised more than $50 million in total funding. The acquisition aims to provide SAP with insights into its customers' workforces, as AI continues to reshape the workforce. The deal is anticipated to close in the fourth quarter of this year. TechWolf's president and chief product officer, Manoj Swaminathan, highlighted that TechWolf's proprietary skills and work graph will serve as a robust foundation for SAP's Autonomous Suite, enhancing agent performance in workforce planning, talent management, and AI-driven HR scenarios.