- Arize AI recently announced it has $38 million. These are the details.
Arize AI recently announced it has $38 million.
Funding amount: $38 million
Funding round: Series B
Investors: TCV led the round with participation from existing investors Battery Ventures, Foundation Capital, and Swift Ventures.
What does Arize AI do: Launched in 2020, Arize’s ML observability platform is already counted on by a growing list of enterprises and disruptive technology companies – including Uber, Spotify, Ebay, Instacart, Chime, Neustar, Nextdoor, New York Life, Stitch Fix, and more – to track hundreds of billions of predictions per month. And Arize is used by ML engineering teams because it enables them to streamline troubleshooting efforts with purpose-built workflows and analytics for model performance management, drift detection, data quality checks, and model validation. Plus Arize also enables users to log models with both structured and unstructured data to the platform for monitoring.
KEY QUOTES:
“Michaelangelo is Uber’s end-to-end ML platform that powers 100% business-critical ML use cases at Uber to deliver a consistent user experience across billions of rides and deliveries. Given the vital role ML plays in this process, it’s critical to have tools that build on Michalangelo’s core capabilities and help us stay ahead of potential production ML problems. We’re excited to work with Arize AI to enhance platform ML observability capabilities and make it easier to detect and resolve model performance issues.”
— Kai Wang, Product Lead, Uber AI Platform
“Arize’s platform finally makes it easy for ML engineers to scalably detect data and drift issues, troubleshoot what happened, and improve overall model performance. Like other areas of observability, the end user really matters — and we were impressed by Arize’s ability to build a practical solution that ML engineers love.”
— Morgan Gerlak, Partner at TCV
“As the pace of innovation in AI accelerates, it’s more important than ever for organizations to have machine learning observability in place to surface potential problems and improve ML models in production. In the past year, Arize has emerged as one of the highest-profile companies in this space — the platform of choice for many prominent ML teams. We’re proud to expand our investment and partnership with Arize as it pushes into new frontiers.”
— Dharmesh Thakker, a general partner with Battery Ventures
“Speaking of observability, I’ve been watching Arize grow since its inception. And I’m thrilled at how far the company has come. Its product is far ahead of the competition and is being deployed by best-in-class AI enterprises, which all acknowledge the seriousness of the problem. In two short years, Arize has become the breakout company in its category.”
— Ashu Garg, general partner at Foundation Capital
“The reality is that if you’re not injecting AI into every major business decision, you are going to be left behind. Having machine learning observability in place to monitor models and get ahead of potential problems is table stakes, especially in a challenging economic environment. Arize is the category leader in this space and is pushing it to new frontiers.”
— Brett Wilson, Co-Founder and General Partner at Swift Ventures
