Petuum Closes $15M Series A Funding

petuumPetuum, Inc., a Pittsburgh, PA-based startup building an artificial intelligence (AI) and machine learning (ML) solution development platform, closed a $15m Series A funding.

The round was led by Advantech Capital, with participation from Tencent, Northern Light Venture Capital and Oriza Ventures.

Founded by Dr. Eric Xing, a professor and associate head of research of the Machine Learning Department in the School of Computer Science at Carnegie Mellon University, Petuum is building an Omni-Mount AI/ML platform for deep learning (e.g., CNN/RNN), predictive analytics (e.g., regression), knowledge extraction (e.g., topic models), content summarization (e.g., sparse coding), ensemble methods (e.g., gradient boosted trees), for a wide range of applications such as natural language processing, image and video understanding, and anomaly detection in transaction data.
The solution will process and integrate data like social media, consumer profiles, electronic health records, sensor logs from IoT devices, transaction logs from financial systems, and machine logs from manufacturing equipment.

The company has also established an Advisory Board with preeminent experts from both industry and academia including:
– Michael I. Jordan, Pehong Chen Distinguished Professor in the Department of Electrical Engineering and Computer Science and the Department of Statistics, UC Berkeley
– Stephen P. Boyd, Samsung Professor in the School of Engineering and Professor of Electrical Engineering in the Information Systems Laboratory, Stanford University
– Kai Li, Founder and Chief Scientist, Data Domain; Paul M. Wythes ’55, P’86 and Marcia R. Wythes P’86 Professor in the Department of Computer Science, Princeton University, and
– Harry Shum, Executive Vice President, Artificial Intelligence and Research Group, Microsoft.



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