- DataRobot, a company that is known for creating automated machine learning models known as AutoML, announced it is buying Paxata. These are the details about the deal.
DataRobot — a company that is best known for creating automated machine learning models known as AutoML — announced that it is intending to buy data prep platform company Paxata. The terms the details were undisclosed. Prior to the acquisition, Paxata has raised about $90 million in total funding.
DataRobot mainly focuses on the machine learning and data science aspect of the workflow. It builds and tests the model and then puts it into production. And generally, DataRobot outsources the data prep for vendors such as Paxata. Since being founded, DataRobot has raised over $430 million.
“We’ve identified, because we’ve been focused on machine learning for so long, a number of key data prep capabilities that are required for machine learning to be successful. And so we see an opportunity to really build out a unique and compelling data prep for machine learning offering that’s powered by the Paxata product, but takes the knowledge and understanding and the integration with the machine learning platform from DataRobot,” said DataRobot SVP of product development and customer experience Phil Gurbacki via TechCrunch.
Paxata CEO and co-founder Prakash Nanduri pointed out that the companies complement each other. This is why the deal makes sense.
“DataRobot has got a significant number of customers, and every one of their customers has a data and information management problem. For us, the deal allows us to rapidly increase the number of customers that are able to go from data to value. By coming together, the value to the customer is increased at an exponential level,” added Nanduri via TechCrunch.
DataRobot is based out of Boston and Paxata is in Redwood City. Paxata will be converted into a west coast office of DataRobot. And a majority of the employees will become part of DataRobot when the deal closes.
Paxata will become more integrated into the DataRobot platform. But the companies also plan to let Paxata continue to exist as a standalone product.