DataRobot Raises $100 Million Series D Led by Meritech and Sapphire Ventures
Boston, October 25, 2018 — DataRobot, the creator of the automated machine learning category, 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.
Supporting Quotes
Rob Ward, Managing Director and Co-Founder, Meritech: “Since inception, DataRobot has solved a huge pain point for customers by making it easier for more users to leverage the power of machine learning and AI — what we call the AI-Driven World. We look forward to helping this innovative and proven organization accelerate their already impressive growth.”
Jai Das, Managing Director at Sapphire Ventures: “Machine learning and AI is transforming business processes for companies of all types and sizes, but this can be difficult for organizations that don’t have data science teams or are having difficulty scaling up their data science teams. DataRobot is filling an important gap in the market by delivering a platform that helps data scientists and non-data scientists — business analysts, software engineers, and data engineers — build machine learning models and AI applications more efficiently and effectively. We’re thrilled to be partnering with the DataRobot team on this next and very exciting phase of their growth.”
Tony Florence, NEA General Partner and Head of Technology Investing, and DataRobot Board Member: “What we love about DataRobot is that they have remained steadfast in their vision to make AI accessible to everyone, and in doing so, have allowed enterprises to automate their data science initiatives and achieve immediate value from their data. We continue to be impressed by DataRobot’s commitment to product and technology excellence and are excited to help them make the AI-driven enterprise a reality for companies worldwide.”
Mark W. Bailey, Partner, DFJ Growth: “Across almost every industry, the next great race in technology is AI. With a proven approach to automating data science initiatives, DataRobot gives its customers a head start by accelerating the deployment and application of AI.”
Sam Fort, Partner, DFJ Growth: “DFJ Growth backs disruptive leaders addressing large, emerging market opportunities, and after considerable work in this area we believe DataRobot has clearly separated itself as the leading platform for helping enterprises harness an AI-driven future.”
Chris Lynch, Chairman of DataRobot: “Since day one, DataRobot’s vision has been to democratize AI with automation to deliver massive value across every industry. Its unprecedented growth is a testament to its dedication to this vision and its ability to capitalize on the massive market opportunity.”
Brian Banks, Director of Strategic Initiatives at Global Water Challenge (GWC), a DataRobot user: “People and organizations in developing countries typically don’t have access to technologies like AI. We’re fortunate to work with DataRobot to give them the tools and insights needed to make informed decisions that are saving lives. The models we’re building with DataRobot make it easy for governments and their partners to determine where and when to make changes to their water systems so that they can ensure citizens in these countries have access to safe drinking water.”
About DataRobot
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.
