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Datarobot, Has Raised Around $200 Million to Develop AI and Machine Learning

DataRobot, a Data science firm, has raised a Series E funding round of an approximated $200 million to develop its artificial intelligence software and automated machine learning, sources have reported to Xconomy.

Report of the funding, led by the California-based agency Sapphire Ventures, spread via a weblog linked to unicorn investment index run by research agency Lagniappe Labs Prime Unicorn Index; the submit detailed that the round would secure DataRobot’s position inside unicorn territory, with a valuation of above $1 billion.

The agency has raised more than $400 million in venture capital because it was based in 2012, and it appears this determine is poised to extend. In a statement sent to Xconomy, the corporate said that “DataRobot continues to expertise important development, which is attracting an increased level of interest within the firm. If and when we raise funding, we’ll make a proper announcement.”

Some of the funding obtained to date has been targeted towards acquisitions. For instance, in 2017, DataRobot bought Nutonian. In 2018, it acquired Nexosis, and in 2019 it has already bought two startups, Cursor and ParallelM.

After the Series D funding round of $100 million, CEO Jeremy Achin advised Xconomy that the technique behind adding cash to its coffers was to maintain competitiveness in the enterprise machine learning sector. He stated: “The worst thing is to take it easy and competitors begin to catch up.”