H2O.ai, a Mountain View, CA-based company bringing AI to enterprises, completed a $40m Series C round of funding.
The round, which brings total amount of funding raised to $75m, was led by Wells Fargo and Nvidia with participation from New York Life, Crane Venture Partners, Nexus Venture Partners and Transamerica Ventures, the corporate venture capital fund of Transamerica and Aegon Group.
The company intends to use the funds for global expansion and innovation of Driverless AI, an automated machine learning and pipelining platform that uses “AI to do AI”.
Led by Sri Ambati, co-founder and CEO, H2O.ai provides an open source software platform that enables enterprise clients to deploy machine learning and predictive analytics to accelerate business transformation for critical applications such as predictive maintenance and operational intelligence. The company recently launched Driverless AI, a solution that allows any business to implement AI to solve complex business problems.
Customers include Capital One, Progressive Insurance, Comcast, Walgreens and Kaiser Permanente.