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Whether you are Walmart or the Chicago Bulls, Boston-based DataRobot wants to help businesses make better use of data to save revenue and make their teams more productive.
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And the artificial intelligence company has just collected a $ 206 million E series, more than double its previous round, to help it implement its vision.
This round of financing was led by Sapphire Ventures, with the participation of Tiger Global Management, the World Innovation Lab, Intel Capital, NEA, Meritech and many others.
DataRobot, which debuted in 2012 in West Hartford, Connecticut, now has $ 431 million in venture capital backed funding. Founded by Tom de Godoy and Jeremy Achin, the company claims to be able to help "customers quickly turn data into value." Consider creating and deploying machine learning models or monitoring and managing AI across multiple infrastructures. Customers include Deloitte and Kroger.
In a press release, the company said it has recorded annual growth in recurring triple-digit revenue every year since 2015.
A hungry robot
In the release, DataRobot said the new funding would be used to grow the company and, in particular, to help fuel the acquisitions.
In June, AI acquired ParallelM, a machine learning company in Santa Clara. Earlier this year, DataRobot also acquired Cursor, a San Francisco analysis platform. Other investments include Nexosis, a machine learning API startup, in July 2018, and Nutonian, an AI modeling engine company, in May 2017; it concluded four transactions in about two years, based on Crunchbase data.
To close
I imagine that DataRobot's business case for investors was quite clear: it's about making everyone's favorite buzzword a real result. Now is the time to see if DataRobot will effectively use new cash to grow not only inside but also outside.
Illustration: Li-Anne Dias
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