News & Views
Investment for DataRobot
Augmented Intelligence leader, DataRobot (www.datarobot.com) announces a $300 million Series G funding round to fuel its platform innovation and has acquired machine learning operations (MLOps) platform, Algorithmia (www.algorithmia.com) to further cement DataRobot’s place as the preeminent provider of comprehensive solutions in the MLOps space.
DataRobot’s latest acquisition deepens its capabilities to unlock value from AI through better, faster, frictionless solutions for every part of the modern enterprise. By integrating Algorithmia’s sharp focus on model serving with DataRobot’s existing, expert-level model monitoring and model management capabilities, customers will have access to the most reliable and cost-effective operational backbone for running any machine learning model, including deep learning workloads for NLP and Image processing in complex inference pipelines, at scale on CPUs and GPUs.
Now valued at $6.3 billion post-money, DataRobot has more than double the valuation from its prior round raised in November last year. The round was led by return investors Altimeter Capital and Tiger Global and joined by new investors Counterpoint Global (Morgan Stanley), Franklin Templeton, ServiceNow Ventures, and Sutter Hill Ventures.
“This new investment further validates our vision for combining the best that humans and machines have to offer in order to power predictive insights, enhanced data-driven decisions, and unprecedented business value for our customers,” explains Dan Wright, CEO of DataRobot. “DataRobot is seeing more customers across the globe choose our platform to solve their biggest challenges at scale. We are grateful to have the continued support of Altimeter, Tiger, and other world-class investors as we continue to increase our innovation lead during the next phase of our company’s growth.”
“DataRobot is extremely well positioned to capitalize on a tremendous opportunity in the history of software as every company looks to unlock the full potential of their data to drive AI-powered business insights,” adds Brad Gerstner, Founder and CEO, Altimeter Capital. “We’re thrilled to double down on our investment in DataRobot and partner with Dan and the rest of the superb leadership team for the long term.”
“Since day one, DataRobot has been committed to the democratization of trusted AI and delivering massive value across every industry,” comments John Curtius, Partner, Tiger Global. “We’ve been impressed with the company’s execution and momentum since we first invested in 2019, and we are excited to continue to build our partnership with DataRobot.”
In addition to strengthening its Augmented Intelligence platform, the new financing will be used to further build out the company’s world-class go-to-market team, including hiring across North America, EMEA, and Asia Pacific/Japan to serve the company’s growing global customer base. Sutter Hill Ventures, which was an early investor in Snowflake and integral in building out its salesforce, will support the company’s robust hiring initiatives.
“With the breadth of its platform and the bench of talent, we saw a unique opportunity to invest in DataRobot that we couldn’t pass up – it’s actually the first time we’ve made an investment at this stage of a company’s growth,” says Chad Peets, Managing Director of Sutter Hill Ventures. “We’re excited to continue accelerating its GTM activities as it scales to its next phase of growth.”