Hot DataRobot Raises a Bundle
The bucks keep rolling in from technology investors pouring cash into machine learning and data science startups.
The latest beneficiary is DataRobot, the machine learning automation vendor. Formed in 2012, the company has so far raised $225 million, a total that includes a whopping $100 million Series D funding round announced this week. The round was led by Meritech and Sapphire Ventures, with participation from 17 previous investors that include DFJ Growth, IA Ventures, Intel Capital and New Enterprise Associates.
Boston-based DataRobot said Thursday (Oct. 25) it would use the new funding to expand its global operations and its product portfolio.
The company’s proprietary data science and machine learning automation platform is designed to automate the building of machine learning models. It is gaining steady traction among business analysts and other non-data scientists.
DataRobot is among several data science software vendors seeking to automate production machine learning, enabling business analysts to contribute to data science projects using open source technologies such as Apache Spark.
Jeremy Achin, DataRobot’s co-founder and CEO, said the vendor has so far crunched through half a billion unique data sets. Customers are said to have built more than 1 billion machine learning models on its automation platform used for scaling their AI projects.
The automation platform incorporates hundreds of open source machine learning algorithms used for parallel training of machine learning models.
Earlier this month, DataRobot unveiled a new extension for Tableau’s interactive data visualization software. The extension is designed to automate data exploration by combining DataRobot “no-code” machine learning platform with Tableau’s (NYSE: DATA) visual analysis technology. Predictions from the DataRobot platform are then integrated into the Tableau dashboard for predictive analytics.