Boston-based AI platform, DataRobot raised US$ 270 million in a pre-IPO funding round on 17 November 2020.
The funding round was led by Altimeter Capital. Other participants included new and existing investors, T. Rowe Price, funds and accounts managed by BlackRock, Tiger Global, Silver Lake Waterman, B Capital Group, Glynn Capital, ClearBridge, NEA, and Sapphire Ventures. The company has been valued at over US$ 2.7 billion – more than double its Series E valuation.
Founded in 2012 by Jeremy Achin and Thomas DeGodoy, DataRobot is the leader in enterprise AI, delivering trusted AI technology and enablement services to global enterprises competing in today’s Intelligence Revolution. Its enterprise AI platform democratizes data science with end-to-end automation for building, deploying, and managing machine learning models. It aims to maximize business value by delivering AI at scale and continuously optimizing performance over time. DataRobot’s cutting-edge software and world-class AI implementation, training and support services, empowers organizations of various size, industry or resources.
The company has its offices across the globe. It is backed by some of the world’s best investment firms including AllianceBernstein, Altimeter, DFJ Growth, Geodesic Capital, Glynn Capital, Intel Capital, Meritech, NEA, Sands Capital, B Capital Group, Cisco, Citi Ventures, ClearBridge, Sapphire Ventures, Silver Lake Waterman, Tiger Global, T. Rowe Price and World Innovation Lab.
DataRobot was also included in the Forbes 2020 Cloud 100 list and the Forbes 2019 and 2020 Most Promising AI Companies lists. “We’re seeing overwhelming demand for our platform. This latest round of financing further validates this momentum, and we intend to use it to accelerate our rapid growth globally. Modern enterprises are generating and capturing more data than ever before, and this data is also changing more rapidly than ever. Traditional business intelligence and manual machine learning methods are completely inadequate to keep pace. Businesses need AI-driven insights into what will happen, rather than simply what has happened, in order to win in today’s increasingly competitive market,” said Dan Wright, President & COO of DataRobot.
What Investors have to say
“The massive secular tailwinds driven by data, the cloud, and business intelligence have been central to our most significant investments in the last decade – and yet we are just getting started. For too long, AI-driven insights were a distant promise, but we have hit an inflection point and DataRobot is at the front of the pack in terms of democratizing AI-driven business intelligence. This capability will be a must-have for all businesses and is poised to catalyze a new era of economic productivity,” said Brad Gerstner, founder and CEO, Altimeter Capital.
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