DataRobot raises $100 million in Series D funding to expand its product portfolio and support global operations
DataRobot, a provider of an AI-driven enterprise automated machine learning platform that empowers users to develop and deploy machine learning and AI faster, has raised $100 million in Series D funding to address the demand for its proven approach to automating data science initiatives and to expand its product portfolio. The funds will also support the continued expansion of the company’s global operations and development of its services offering.
This brings its total funding to $225 million. The round was led by Meritech and Sapphire Ventures, with participation from DFJ Growth and 16 previous investors including NEA, IA Ventures, and Intel Capital. Meritech’s Rob Ward and Sapphire’s Jai Das have joined the Board of Directors.
DataRobot was founded by experienced applied data scientists, Jeremy Achin and Thomas DeGodoy in 2012, long before the current resurgence of AI. Their mission was to develop technology to automate the process of building and operationalizing machine learning models. Over the last four years, DataRobot has put this technology into the hands of companies across different industries and geographies, regardless of size and level of AI maturity.
“Since inception, DataRobot has solved a huge pain point for customers by making it easier for more users to leverage the power of machine learning and AI — what we call the AI-Driven World. We look forward to helping this innovative and proven organization accelerate their already impressive growth,” Rob Ward, Managing Director and Co-Founder, Meritech said.
Incorporating a library of hundreds of the most powerful open source machine learning algorithms, the DataRobot platform automates, trains, and evaluates models in parallel, delivering AI applications at scale. DataRobot provides the fastest path to AI success for organizations of all sizes.
“Over the past four years, we’ve worked on thousands of use cases with thousands of companies across every industry and geography, processing over half a billion unique datasets,” said Jeremy Achin, CEO and co-founder, DataRobot. “Armed with this practical experience, we’ve continuously improved our platform and the overall customer experience, and look forward to leveraging this investment to take our technology to the rest of the companies in the world.”
From reducing costs to finding new revenue opportunities to identifying threats, DataRobot’s automated machine learning technology transforms companies of all sizes into AI-driven enterprises. DataRobot customers have built more than one billion models on its automated machine learning platform, and some of the largest companies in the world are using it to accelerate and scale AI success.
“People and organizations in developing countries typically don’t have access to technologies like AI. We’re fortunate to work with DataRobot to give us the tools and insights needed to make informed decisions that are saving lives. The models we’re building with DataRobot make it easy for governments and their partners to determine where and when to make changes to our water systems so that we can ensure citizens in these countries have access to safe drinking water,” said Brian Banks, Director of Strategic Initiatives at Global Water Challenge (GWC), a DataRobot user.