Enterprise AI Platform DataRobot Raises $270m for Growth
November 18 2020
In the US, enterprise-level artificial intelligence (AI) insights platform DataRobot has raised $270m in a pre-IPO round of funding, which values the company at more than $2.7bn – more than double its Series E valuation last year. The investment will be used for further company growth.
DataRobot’s centrally governed, automated machine learning platform enables users to build and deploy predictive models to help their enterprises maximize business value. The platform can be used for self-service data preparation through which to interactively explore and combine diverse datasets ready for machine learning models and AI applications at enterprise scale. Once deployed, clients can monitor models from a single dashboard and test, run, and maintain them to inform decision-making.
New funding has been led by Altimeter Capital, with participation from existing investors including T. Rowe Price, funds and accounts managed by BlackRock, Tiger Global, Silver Lake Waterman, B Capital Group, Glynn Capital, ClearBridge, NEA, and Sapphire Ventures. Dan Wright (pictured), President & COO of DataRobot, comments: ‘We’re seeing overwhelming demand for our platform, and this latest round of financing further validates this momentum. We intend to use it to accelerate our rapid growth globally.’
DataRobot, which last year took over Paxata, an AI-based start-up whose platform is used to ready raw data for analytics; and previously acquired data science software company Nutonian, is online at: www.datarobot.com .