DataRobot, a Boston, MA-based enterprise AI company, raised $206m in Series E funding.
The round, which brought total funding to $431m, was led by Sapphire Ventures with participation from Tiger Global Management, World Innovation Lab, Alliance Bernstein PCI, and EDBI and existing investors DFJ Growth, Geodesic Capital, Intel Capital, and Sands Capital, New Enterprise Associates and Meritech.
The company intends to use the funds for the continued development of the platform.
Led by Jeremy Achin, CEO and Co-Founder, DataRobot provides an enterprise AI platform for organizations worldwide to allow their teams to build and deploy machine learning models and create advanced AI applications. The solution has been developed over the course of more than a million hours of engineering innovation, and its capabilities have been accelerated via several strategic acquisitions. Most recently, DataRobot acquired ParallelM to create its MLOps and governance offering.
Today, many large brands, including Walmart Canada, The Chicago Bulls, Deloitte, Kroger, Humana, and Hearst Magazines, are using the solutions to increase revenue and earnings, decrease costs, improve customer satisfaction, and make their technical teams more productive.
In addition to its latest round of financing, DataRobot also announced the availability of DataRobot MLOps, a new solution for deploying, monitoring, and managing machine learning models across the enterprise.