Algorithmia, a Seattle, WA-based cloud marketplace for algorithms, raised $2.4m in seed funding.
The round was led by Madrona Venture Group with participation from Rakuten Ventures, Deep Fork Capital and angels Oren Etzioni and Charles Fitzgerald. In conjunction with the funding, Porter, Managing Director at Madrona Venture Group, will be joining the company’s board.
The company is using the funds to launch the platform at the end of the year (It is in private beta).
Founded by Diego M. Oppenheimer and Kenneth Daniel, Algorithmia operates a marketplace to combine and commercialize their algorithm implementations. Developers at companies, universities and organizations can find, test and implement these algorithms by accessing the company’s API.