DataRobot Raises $100 Million Series D Led by Meritech and Sapphire Ventures
BOSTON, Oct. 25, 2018 — DataRobot has raised $100 million in Series D funding, bringing its total funding to $225 million. The round was led by Meritech and Sapphire Ventures, with participation from DFJ Growth and 16 previous investors including NEA, IA Ventures, and Intel Capital. Meritech’s Rob Ward and Sapphire’s Jai Das have joined the Board of Directors.
DataRobot was founded by experienced applied data scientists in 2012, long before the current resurgence of AI. Their mission was to develop technology to automate the process of building and operationalizing machine learning models. Over the last four years, DataRobot has put this technology into the hands of companies across different industries and geographies, regardless of size and level of AI maturity.
The company will use the new financing to address the demand for its proven approach to automating data science initiatives and to expand its product portfolio. The funds will also support the continued expansion of the company’s global operations and development of its services offering.
“Over the past four years, we’ve worked on thousands of use cases with thousands of companies across every industry and geography, processing over half a billion unique datasets,” said Jeremy Achin, CEO and co-founder, DataRobot. “Armed with this practical experience, we’ve continuously improved our platform and the overall customer experience, and look forward to leveraging this investment to take our technology to the rest of the companies in the world.”
From reducing costs to finding new revenue opportunities to identifying threats, DataRobot’s automated machine learning technology transforms companies of all sizes into AI-driven enterprises. DataRobot customers have built more than one billion models on its automated machine learning platform, and some of the largest companies in the world are using it to accelerate and scale AI success.
For more information, visit www.datarobot.com.
DataRobot offers an enterprise machine learning platform that empowers users of all skill levels to develop and deploy machine learning and AI faster. Incorporating a library of hundreds of the most powerful open source machine learning algorithms, the DataRobot platform automates, trains, and evaluates models in parallel, delivering AI applications at scale. DataRobot provides the fastest path to AI success for organizations of all sizes. For more information, visit www.datarobot.com.