DataRobot, the Boston based artificial intelligence company has announced securing $206 million fresh financings as part of Series E funding round led by Sapphire Ventures. The funding round also saw participation from new backers which included Tiger Global Management, World Innovation Lab, Alliance Bernstein PCI and EDBI along with existing backers, DFJ Growth, Geodesic Capital, Intel Capital, Sands Capital, NEA, and Meritech.
Prior to this round, the firm had picked up $100 million during its Series D round last year in October. The current infusion takes the total amount raised by the firm to $430.6 million and with it, the firm has got the coveted unicorn status. The company with the funding news also announced launching a new product called ML Ops framework.
Launched in 2012 by Jeremy Achin and Thomas DeGodoy, the firm wants its clients to use the data wisely. It claims that it can help “customers rapidly turn data into value" using the machine learning and artificial intelligence technology. The freshly raised funds will help the firm continues working on its main product line. It is also looking to acquire smaller platforms to make them work with DataRobot.
The product by the firm is aimed at analysts, developers and data scientists who can build predictive models quicker using the platform than the traditional methods. DataRobot counts big names like Humana, United Airlines, Harvard Business School and Deloitte among its customers.
With fresh funds pouring, it will be interesting to see how the firm can take the product to more enterprise-level and help the companies get more value for their data.