DataRobot, Snowflake Expand AI Collaboration
DataRobot announced more late-round investments this week along with an expanded partnership with big data leader Snowflake Inc. that would extend the reach of its enterprise AI platform.
A Series F funding round announced last month and led by Altimeter Capital raised $270 million. Boston-based DataRobot said Salesforce Ventures and Hewlett Packard Enterprises (NYSE: HPE) have since added strategic investments, raising that total to $320 million.
The enterprise AI and MLOps specialist has so far raised about $750 million in venture funding, and claims a market valuation of $2.8 billion.
Along with the new funding, DataRobot said Wednesday (Dec. 9) it is expanding collaboration with Snowflake “through deep product integration” and product marketing to their joint customers. The collaboration includes integration of Snowflake’s cloud data warehouse and its emerging data marketplace with DataRobot’s AI platform.
Meanwhile, Salesforce (NYSE: CRM) and HPE also will expand collaboration with DataRobot, the former through its Tableau Software unit. Salesforce acquired the self-service analytics and data visualization specialist last year. Working with Tableau, DataRobot said it would seek to accelerate AI adoption among Salesforce customers.
HPE and DataRobot said they would collaborate to target the growing number of enterprise customers deploying multiple clouds.
“The era of experimental AI is over,” said Dan Wright, DataRobot’s president and chief operating officer. “This new capital and our enhanced partnerships will further accelerate our capacity to arm every company with the ability to unlock the power of their data to provide AI-driven insights at scale,” Wright added in a blog post announcing the partnerships.
Collaboration with deep-pocketed data storage, customer relations and IT infrastructure vendors will help as DataRobot seeks to extend the enterprise reach of its AI platform and growing list of MLOps tools.
Wright said the expanded partnership with Snowflake “represents the next generation of analytic stack—Snowflake is where organizations store and process their data, and DataRobot is where enterprises rapidly derive insights from this data and improve the quality of decisions.”
Wright also cited a growing list of joint customers “addressing the common data management, infrastructure and governance challenges that limit the impact of many AI initiatives.”
The investments and partnerships also continue DataRobot’s hot streak as it seeks to scale its enterprise AI platform and growing list of MLOps tools. “We have hit an inflection point and DataRobot is at the front of the pack in terms of democratizing AI-driven business intelligence,” added Brad Gerstner, founder and CEO of lead investor Altimeter Capital.