TCV led the round with participation from existing investors Battery Ventures, Foundation Capital, and Swift Ventures.
The startup plans to use the fresh funds to scale its machine learning observability platform.
Machine learning models are now being deployed in nearly every sector of the economy, with companies investing billions to turn artificial intelligence and machine learning into a competitive advantage. Despite a decade of investment in data infrastructure and the pre-production ML toolchain, most companies still lack visibility into how their ML models perform in the production and run the risk of models impacting earnings or acting unfairly.
“Arize’s platform makes it easy for ML engineers to scalably detect data and drift issues, troubleshoot what happened, and improve overall model performance,” says Morgan Gerlak, Partner at TCV. “Like other areas of observability, the end user matters — and we were impressed by Arize’s ability to build a practical solution that ML engineers love.”
Launched in 2020, Arize AI is developing a machine learning observability platform that helps ML teams deliver and maintain more successful AI in production. Its automated model monitoring and observability platform allow ML teams to quickly detect issues when they emerge, troubleshoot why they happened, and improve overall model performance across both structured and unstructured data. Clients include – several enterprises, including Uber, Spotify, eBay, Instacart, Chime, Neustar, Nextdoor, New York Life, and Stitch Fix.
“Michaelangelo is Uber’s end-to-end ML platform that powers 100% business-critical ML use cases at Uber to deliver a consistent user experience across billions of rides and deliveries,” says Kai Wang, Product Lead, Uber AI Platform.
Kai Wang added: “Given the vital role ML plays in this process, it’s critical to have tools that build on Michalangelo’s core capabilities and help us stay ahead of potential production ML problems. We’re excited to work with Arize AI to enhance platform ML observability capabilities and make it easier to detect and resolve model performance issues.”
“The reality is that if you’re not injecting AI into every major business decision, you are going to be left behind,” notes Brett Wilson, Co-Founder and General Partner at Swift Ventures. “Having machine learning observability in place to monitor models and get ahead of potential problems is table stakes, especially in a challenging economic environment. Arize is the category leader in this space and is pushing it to new frontiers.”...