DataRobot, an enterprise AI platform, raised $270 million in a pre-IPO funding round led by Altimeter Capital.
The funding round values the company at over $2.7 billion.
Investors include T. Rowe Price, funds and accounts managed by BlackRock, Tiger Global, Silver Lake Waterman, B Capital Group, Glynn Capital, ClearBridge, NEA, and Sapphire Ventures.
DataRobot’s enterprise AI platform democratizes data science with end-to-end automation for building, deploying, and managing machine learning models. The platform maximizes business value by delivering AI at scale and continuously optimizing performance over time.
“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’s platform is used by many of the Fortune 500 companies, and customers have built more than two billion machine learning models on its cloud platform.
Image by Pete Linforth from Pixabay