Acquisition of Algorithmia further fuels company’s rapid momentum
July 27, 2021 — BOSTON — DataRobot, a leader in Augmented Intelligence, today announced a $300 million Series G funding round to fuel platform innovation and enable DataRobot to bring the transformative impact of Augmented Intelligence to customers around the world.
DataRobot is now valued at $6.3 billion post-money, more than double the valuation from its prior round raised in November last year. The round was led by return investors Altimeter Capital and Tiger Global and joined by new investors Counterpoint Global (Morgan Stanley), Franklin Templeton, ServiceNow Ventures, and Sutter Hill Ventures.
“This new 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,” said Dan Wright, CEO of DataRobot. “DataRobot is seeing more customers across the globe choose our platform to solve their biggest challenges at scale. We are grateful to have the continued support of Altimeter, Tiger, and other world-class investors as we continue to increase our innovation lead during the next phase of our company’s growth.”
“DataRobot is extremely well positioned to capitalize on a tremendous opportunity in the history of software as every company looks to unlock the full potential of their data to drive AI-powered business insights,” said Brad Gerstner, Founder and CEO, Altimeter Capital. “We’re thrilled to double down on our investment in DataRobot and partner with Dan and the rest of the superb leadership team for the long term.”
DataRobot’s Augmented Intelligence platform is currently trusted by a third of the Fortune 50. By empowering organizations large and small across industries to use AI to help solve key business challenges, including building better products, improving customer relationships, more accurately forecasting demand, and decreasing costs, its platform helps generate tremendous value for customers.
“Since day one, DataRobot has been committed to the democratization of trusted AI and delivering massive value across every industry,” said John Curtius, Partner, Tiger Global. “We’ve been impressed with the company’s execution and momentum since we first invested in 2019, and we are excited to continue to build our partnership with DataRobot.”
In addition to strengthening its Augmented Intelligence platform, the new financing will be used to further build out the company’s world-class go-to-market team, including hiring across North America, EMEA, and Asia Pacific/Japan to serve the company’s growing global customer base. Sutter Hill Ventures, which was an early investor in Snowflake and integral in building out its salesforce, will support the company’s robust hiring initiatives.
“With the breadth of its platform and the bench of talent, we saw a unique opportunity to invest in DataRobot that we couldn’t pass up — it’s actually the first time we’ve made an investment at this stage of a company’s growth,” said Chad Peets, Managing Director of Sutter Hill Ventures. “We’re excited to continue accelerating its GTM activities as it scales to its next phase of growth.”
In addition to its new round of capital, DataRobot also today announced the acquisition of Algorithmia to further its stronghold as the leader in MLOps and allow customers to rapidly move from experimental to applied AI. The acquisition provides customers with the ability to monitor and manage all models in production while continuously updating those models as data changes to achieve unprecedented value with AI.
DataRobot is a leader in Augmented Intelligence, delivering trusted AI technology and enablement services to global enterprises competing in today’s Intelligence Revolution. DataRobot’s enterprise AI platform democratizes data science with end-to-end automation for building, deploying, and managing machine learning models. This platform helps maximize business value by delivering AI at scale and optimizing performance over time. The company’s proven combination of cutting-edge software and world-class AI implementation, training, and support services, empowers any organization – regardless of size, industry, or resources – to drive better business outcomes with AI.
DataRobot has offices across the globe and funding from some of the world’s best investing firms including Alliance Bernstein, Altimeter, B Capital Group, Cisco, Citi Ventures, ClearBridge, Counterpoint Global (Morgan Stanley), DFJ Growth, Franklin Templeton, Geodesic Capital, Glynn Capital, Intel Capital, Meritech, NEA, Salesforce Ventures, Sands Capital, Sapphire Ventures, ServiceNow Ventures, Silver Lake Waterman, Snowflake Ventures, Sutter Hill Ventures, Tiger Global, T. Rowe Price, and World Innovation Lab. DataRobot was named to the Forbes 2020 Cloud 100 list and the Forbes 2019, 2020, and 2021 Most Promising AI Companies lists, and was named a Leader in the IDC MarketScape: Worldwide Advanced Machine Learning Software Platforms Vendor Assessment. For more information visit http://www.datarobot.com/, and join the conversation on the DataRobot Community, More Intelligent Tomorrow podcast, Twitter, and LinkedIn.