DataRobot’s enterprise AI and ML cloud platform
Boston, Massachusetts-based tech unicorn DataRobot operates an enterprise AI platform to provide businesses access to machine learning.
The platform features automation capabilities across the building, deployment and management stages of creating machine learning models. The company also offers AI implementation, training and support services to businesses.
DataRobot says that more than 2 billion machine learning models have been built using its platform, with customers including the likes of Accenture, Deloitte, Panasonic and Manchester City Football Club.
Since its foundation in 2012, the company has raised over $700mn. Its latest Series F round of funding, announced yesterday, saw the company receive $270mn from lead investor Altimeter Capital, alongside T. Rowe Price, BlackRock, Tiger Global, Silver Lake Waterman, B Capital Group, Glynn Capital, ClearBridge, NEA, and Sapphire Ventures.
In a press release, Dan Wright, President and COO of DataRobot, said: “We’re seeing overwhelming demand for our platform. This latest round of financing further validates this momentum, and we intend to use it to accelerate our rapid growth globally.
“Modern enterprises are generating and capturing more data than ever before, and this data is also changing more rapidly than ever. Traditional business intelligence and manual machine learning methods are completely inadequate to keep pace. Businesses need AI-driven insights into what will happen, rather than simply what has happened, in order to win in today’s increasingly competitive market.”
The round leaves the company valued at $2.7bn, more than double that of its last round.
Brad Gerstner, Founder and CEO, Altimeter Capital, said: “For too long, AI-driven insights were a distant promise, but we have hit an inflection point and DataRobot is at the front of the pack in terms of democratizing AI-driven business intelligence. This capability will be a must-have for all businesses and is poised to catalyze a new era of economic productivity.”