DataRobot has raised $206 million in Series E funding with inclusion from new and existing investors, according to a press release. The round brings the company’s total earned to $431 million since its founding in 2012. The new capital will be used to support continued development of the DataRobot Platform, as well as allow the company to explore acquisition opportunities in the wide open data science and machine learning space.
DataRobot offers an automated machine learning platform for data scientists of all skill levels to build and deploy accurate machine learning models. The tool automates the entire modeling lifecycle, enabling users to build predictive models. DataRobot searches through millions of combinations of algorithms, data pre-processing steps, transformations, features, and tuning parameters to spit out the best model for your data.
The news comes on the heels of DataRobot’s June acquisition of machine learning operations provider ParallelM. It has been a major growth year for the Boston-based company with large, global brands like Walmart Canada, The Chicago Bulls, Deloitte and Kroger using the company’s platform. DataRobot touts triple-digit annual recurring revenue growth every year since 2015 as well.
DataRobot is also releasing its new MLOps solution for deploying, monitoring, and managing machine learning models across the enterprise. MLOps combines the company’s existing model management and monitoring tools with features from ParallelM. DataRobot MLOps provides a central hub for deployment and governance of models created from a number of products.
In a statement to the media, DataRobot’s CEO Jeremy Achin commented on the big news day: “We are humbled by the confidence our investors have in our unprecedented vision and ability to execute. We’re proud of our entire organization for their work in building a game-changing product and bringing transformational success to our customers.”
DataRobot was featured in Gartner’s January Magic Quadrant for Data Science and Machine Learning Platforms. Solutions Review also named the company one of The 16 Best Predictive Analytics Software for 2019 and Beyond last month.
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