DataRobot Announces $270M in Funding Led by Altimeter Capital
BOSTON, Nov. 17, 2020 — DataRobot, a leading enterprise AI platform, announced it has raised $270 million in a pre-IPO funding round led by Altimeter Capital. The financing, joined by many new and 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, values the company at over $2.7 billion – more than double its Series E valuation.
“The massive secular tailwinds driven by data, the cloud, and business intelligence have been central to our most significant investments in the last decade – and yet we are just getting started,” said Brad Gerstner, Founder and CEO, Altimeter Capital. “For too long, AI-driven insights were a distant promise, but we have hit an inflection point and DataRobot is at the front of the pack in terms of democratizing AI-driven business intelligence. This capability will be a must-have for all businesses and is poised to catalyze a new era of economic productivity.”
DataRobot’s platform is trusted by many of the Fortune 500 and customers have built more than two billion machine learning models on its cloud platform.
“We’re seeing overwhelming demand for our platform. This latest round of financing further validates this momentum, and we intend to use it to accelerate our rapid growth globally,” said Dan Wright, President & COO of DataRobot. “Modern enterprises are generating and capturing more data than ever before, and this data is also changing more rapidly than ever. Traditional business intelligence and manual machine learning methods are completely inadequate to keep pace. Businesses need AI-driven insights into what will happen, rather than simply what has happened, in order to win in today’s increasingly competitive market.”
DataRobot is a leader in enterprise AI, delivering trusted AI technology and enablement services to global enterprises competing in today’s Intelligence Revolution. DataRobot’s enterprise AI platform democratizes data science with end-to-end automation for building, deploying, and managing machine learning models. This platform maximizes business value by delivering AI at scale and continuously optimizing performance over time. The company’s proven combination of cutting-edge software and world-class AI implementation, training, and support services, empowers any organization – regardless of size, industry, or resources – to drive better business outcomes with AI.
DataRobot has offices across the globe and funding from some of the world’s best investing firms including Alliance Bernstein, Altimeter, B Capital Group, Cisco, Citi Ventures, ClearBridge, DFJ Growth, Geodesic Capital, Glynn Capital, Intel Capital, Meritech, NEA, Sands Capital, Sapphire Ventures, Silver Lake Waterman, Tiger Global, T. Rowe Price, and World Innovation Lab. DataRobot was named to the Forbes 2020 Cloud 100 list and the Forbes 2019 and 2020 Most Promising AI Companies lists, and was named a Leader in the IDC MarketScape: Worldwide Advanced Machine Learning Software Platforms Vendor Assessment. For more information, visit www.datarobot.com.