Data science company DataRobot has established a Series E funding spherical of an estimated $200 million to develop its artificial intelligence software and automated machine learning, and sources have revealed to Xconomy.
Information of the funding, led by the California-primarily based agency Sapphire Ventures, spread by way of a blog linked to unicorn funding index run by analysis agency Lagniappe Labs Prime Unicorn Index; the publish detailed that the spherical would secure DataRobot’s position inside unicorn territory, with a valuation of above $1 billion.
The corporate has raised more than $400 million in enterprise capital because it founded in 2012, and it appears this determine is poised to increase. In an announcement despatched to Xconomy, the company said that “DataRobot continues to expertise important development, which is attracting an elevated stage of curiosity within the firm. If and after we increase funding, we will make a formal announcement.”
A number of the funding obtained so far has focused in the direction of acquisitions. For example, in 2017, DataRobot purchased Nutonian. In 2018, it acquired Nexosis, and in 2019 it has already purchased two startups, Cursor and ParallelM.
After the Sequence D funding round of $100 million, CEO Jeremy Achin informed Xconomy that the technique behind including cash to its coffers was to maintain competitiveness within the enterprise machine studying sector. He mentioned: “The worst thing is to take it simple and opponents start to catch up.”