A member of NYU's Future Labs incubator network, virtual receptionist developer Bowtie.ai has been acquired by wellness services software developer Mindbody.

Bowtie.ai, a US-based virtual receptionist software publisher and member of New York University-backed incubator network Future Labs, was acquired yesterday for an undisclosed sum by Mindbody, which develops business management software for the wellness services industry.

Terms of the transaction were not disclosed but Bowtie.ai has become the 20th exit for Future Labs, a public-private partnership backed by NYU’s Tandon School of Engineering.

Founded in 2016 by alumni of Cornell University, Bowtie.ai has developed a virtual receptionist software product for beauty service providers that can automatically book in appointments, answer questions and send replies when the beautician is unavailable.

Bowtie.ai became an affiliate of Mindbody’s wellness software program in 2017. VC firm FF Venture Capital and venture fund Newark Venture Partners are among its earlier investors, with the latter having selected it for an accelerator program in 2016.

Ron Fisher, co-founder and chief executive of Bowtie.ai, said: “Working with the Future Labs team we were able to take our company from a few paid clients to over 100. Their support and advice was crucial in helping our business scale.

“Moreover, the successful founders that came through inspired us every week to focus on what was ahead and see that the issues we were facing were, in many ways, standard when growing your startup.”

Kurt Becker, vice-dean for research, innovation and entrepreneurship at NYU, added: “This is a significant milestone for NYU Tandon and the Future Labs. Since opening our doors ten years ago, we have seen New York City undergo a technology revolution, and our member companies and graduates have played a significant role in the city’s transformation.”