By Colin Kellaher
DataRobot, an enterprise artificial-intelligence platform startup, on Tuesday said it raised $270 million in a pre-initial public offering funding round led by Altimeter Capital.
DataRobot said the round values the Boston company at more than $2.7 billion, or more than double its valuation in a $206 million Series E round in September 2019, and brings total funding to just over $700 million.
DataRobot, which has developed an AI software platform that automates the building, deploying and management of machine-learning models, said several new and existing investors participated in the latest round, including T. Rowe Price Group Inc., funds and accounts managed by BlackRock Inc., Tiger Global Management, Silver Lake Waterman, B Capital Group, Glynn Capital, ClearBridge, NEA and Sapphire Ventures.
While DataRobot termed the latest funding a pre-IPO round, it didn’t disclose details about plans for an initial public offering. A representative said an IPO is likely in the future.
Enterprise AI software company C3.ai Inc., founded by technology entrepreneur Tom Siebel, last week filed for an IPO. C3.ai was most recently valued at $3.3 billion.
–John McCormick contributed to this article
Write to Colin Kellaher at firstname.lastname@example.org
(END) Dow Jones Newswires