- DataRobot, an enterprise AI leader company, announced it raised a whopping $206 million in Series E funding led by Sapphire Ventures
Enterprise AI leader DataRobot announced that it raised $206 million in Series E funding led by Sapphire Ventures. Including this round, DataRobot has raised a total of $431 million.
Tiger Global Management, World Innovation Lab, Alliance Bernstein PCI, and EDBI also participated in this round. And existing investors DFJ Growth, Geodesic Capital, Intel Capital, and Sands Capital also significantly increased their ownership. Plus NEA and Meritech also joined the round.
According to PwC, artificial intelligence could contribute up to $15.7 trillion to the global economy by 2030. However, artificial intelligence can only deliver on this promise if it is being utilized by a broad set of users.
DataRobot is enabling every organization to turn data into value with artificial intelligence. And the company has put together a team of the world’s smartest data scientists, engineers, and business leaders to accomplish this.
By making artificial intelligence more efficient and accessible through automation, business are able to more easily adopt the technology and capture market share at lower costs with better performance than the traditional methods.
Now many of the world’s largest brands like Walmart Canada, Deloitte, Kroger, Humana, and Hearst Magazines are using DataRobot to increase revenue and earnings, decrease costs, improve customer satisfaction, and make technical teams more productive. And the value of
DataRobot’s platform to customers has contributed to the company’s explosive growth and momentum as evidenced by the adoption from a third of the Fortune 50 companies, triple-digit annual recurring revenue growth every year since going to market in 2015, and the creation of one billion models built on its platform with customers building 2.5 million models each day.
“We are humbled by the confidence our investors have in our unprecedented vision and ability to execute,” said Jeremy Achin, the CEO and co-founder of DataRobot. “We’re proud of our entire organization for their work in building a game-changing product and bringing transformational success to our customers.”
This round of funding will be used for building on this momentum and specifically support the continued development of the DataRobot platform — which includes Automated Machine Learning, Automated Time Series, and MLOps along with potential acquisition opportunities.
DataRobot’s platform was developed over the course of more than a million hours of engineering innovation and its capabilities have been accelerated via several strategic acquisitions. For example, DataRobot acquired ParallelM to create its industry-leading MLOps and governance offering. And the company’s holistic approach to artificial intelligence success has been fine-tuned through working with thousands of projects across more than 35 countries.
“AI is fundamentally changing the way the world works, and DataRobot is delivering on its promise to make all enterprises AI-enabled to drive innovation and value,” added Jai Das, the president and managing director of Sapphire Ventures. “We’re pleased to expand our stake in DataRobot as they rapidly scale and expand the capabilities of their platform through R&D and strategic acquisitions. We look forward to continuing to help build one of the world’s fastest-growing AI companies.”
Along with the funding round, DataRobot also announced DataRobot MLOps — a new solution for deploying, monitoring, and managing machine learning models across the enterprise.
