There’s no going back to the 2019 playbook, particularly for benefits. Learn what employees expect in the new normal, and how you can keep a competi

Enterprise AI development platform DataRobot raises $300M, acquires Algorithmia

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2021-07-28 00:00:03

There’s no going back to the 2019 playbook, particularly for benefits. Learn what employees expect in the new normal, and how you can keep a competitive edge.

DataRobot, a startup creating an enterprise AI development platform, today closed a $300 million series G funding round led by Altimeter Capital and Tiger Global, with participation from Morgan Stanley’s Counterpoint Global, Franklin Templeton, ServiceNow Ventures, and Sutter Hill Ventures. The round brings DataRobot’s valuation to $6.3 billion post-money, up from $2.7 billion in November 2020, and comes as the company finalizes the acquisition of Seattle, Washington-based MLOps startup Algorithmia.

CEO Dan Wright says the new funds will be used to “fuel platform innovation” and “enable DataRobot to bring … augmented intelligence” to clients around the world. Specifically, DataRobot plans to build out its go-to-market teams, with Sutter Hill supporting the company’s hiring initiatives.

“This … investment further validates our vision for combining the best that humans and machines have to offer in order to power predictive insights, enhanced data-driven decisions, and unprecedented business value for our customers,” Wright said in a statement. “DataRobot is seeing more customers across the globe choose our platform to solve their biggest challenges at scale.”