Enterprise MLOps Platform Company Domino Data Lab Raises $100 Million

By Annie Baker ● Oct 12, 2021
  • Domino Data Lab — a provider of the leading Enterprise MLOps platform trusted by over 20% of the Fortune 100 — recently announced a $100 million funding round. These are the details.

Domino Data Lab — a provider of the leading Enterprise MLOps platform trusted by over 20% of the Fortune 100 — recently announced a $100 million funding round led by Great Hill Partners and an expanded partnership with NVIDIA — which is also participating in the round. Domino and NVIDIA are also further integrating products and expand joint sales efforts to support customers’ efforts to build model-driven businesses.

The Series F funding round includes additional participation from existing investors Coatue Management, Highland Capital Partners and Sequoia Capital, bringing the company’s total funding to $228 million.

Forrester is expecting the AI Maker Platform market to reach $13 billion by 2025. And Domino’s growth is a testament to increased demand in this market, particularly for Enterprise MLOps platforms. Over the past two years, Domino has doubled both its Annual Recurring Revenue as well as the number of Global 2000 companies using its platform.

Since last year, Domino has offered certified Enterprise MLOps software for NVIDIA DGX systems as a charter member of the NVIDIA DGX-Ready Software program. And building on that collaboration, Domino is working with NVIDIA to develop product functionality to expand the accelerated computing capabilities in its platform. This includes validating the Domino platform for NVIDIA AI Enterprise so that Domino can run seamlessly on mainstream, NVIDIA-Certified Systems from OEM hardware providers. NVIDIA and Domino will bring these products to market together as part of their partnership.

As the promise of and need for data science are great, becoming model-driven is difficult. And companies scaling data science efforts beyond a few experts quickly find that lack of access to infrastructure, tools and data stands in the way of building competitive advantage. In order to compensate, companies develop siloed pockets of data science that inhibit knowledge sharing and complicate model operationalization. Domino Data Lab’s Enterprise MLOps Platform breaks down silos and increases governance to help companies generate data science breakthroughs at greater velocity and scale, free from ties to one form of infrastructure or tool.

Domino also recently announced that it has appointed Tom Gleason as Chief Financial Officer. Gleason – who previously held several financial leadership roles during a nine-year tenure at data analytics leader Tableau, will help drive Domino’s continued growth as it helps every company become model-driven.

KEY QUOTES:

“Our mission is to help our customers unleash the power of data science. We’re thrilled to have the support of Great Hill Partners and NVIDIA to accelerate our growth and innovation, which in turn will help our customers address the world’s most important challenges.”

— Nick Elprin, CEO and co-founder of Domino Data Lab

“As enterprises advance their adoption of machine learning, they increasingly require an enterprise-grade, open platform to orchestrate and manage these workloads – and Domino perfectly meets this growing market need. Speaking with Domino’s impressive roster of customers completely validated our great conviction in the company, and we have been particularly impressed by their stories about the massive ROI Domino has driven for them. We are thrilled to partner with Nick and the rest of the Domino team to help drive their next phase of growth.”

— Derek Schoettle, growth partner at Great Hill Partners

“AI and data science are new workloads that demand a full-stack solution — one with tools that simplify development and deployment for customers. Our partnership with Domino Data Lab reflects our commitment to Enterprise MLOps. With NVIDIA AI Enterprise integration into the Domino platform, customers will be able to easily integrate advanced AI tools into their traditional data center infrastructure.”

— Manuvir Das, head of Enterprise Computing at NVIDIA

“As important as data is, it’s clear that model-driven business is the next evolution in leveraging information about pricing, products, teams, and markets,” said Gleason. “Domino’s vision to improve the velocity of data science matches how companies are building a competitive edge. I’m ecstatic to join this team of humble and smart people, and to help play a part to build the next great data company.”

— Tom Gleason, Chief Financial Officer