BIG DATA
BIG DATA
BIG DATA
Machine learning-driven analytics startup DataRobot raises $54M
Just over a year after securing $33 million in funding from a group of top investors, DataRobot Inc. is back at the venture capital trough.
The machine learning startup today announced that it has secured a hefty $54 million round of financing led by New Enterprise Associates. The fund, which is known for backing Silicon Valley giants such as Salesforce.com Inc., was one of the contributors to DataRobot’s previous round and earlier headlined its $21 million Series A round in 2014. There’s apparently a great deal of insider confidence about the startup’s competitive prospects.
DataRobot is taking on establishing analytics providers with a machine learning platform that promises to ease the task of developing data-crunching algorithms. Instead of implementing the complex programmatic controls normally found in such software, the startup’s offering provides a drag-and-drop interface designed to accommodate users of varying technical backgrounds. Workers can simply upload the files they wish to process, highlight the elements of interest (such as sales numbers in a financial dataset) and let DataRobot take it from there.
The platform starts by checking the information against the available algorithms to find the most suitable option. it’s similar to how the machine learning engine that IBM Corp. released last month works, except DataRobot goes a step further by fine-tuning the model that comes out on top. The startup says that its software checks “millions” of different configurations until finding the most efficient way of carrying out the task at hand.
From there, the finished model is exposed through a programming interface that the company says is relatively easy to integrate with other systems. A model can be baked into an application to provide analytics capabilities or executed on a standalone basis using the open-source streaming data framework Apache Spark.
Today’s cash infusion will enable DataRobot to add more ways for companies to take advantage of its platform. As part of the effort, the startup plans to double the size of its engineering team and establish offices in more regions to better support international customers. Additionally, channel initiatives will be ramped up in a bid to attract partners that help widen the adoption of its platform.
Along with seed funding, DataRobot has raised more than $110 million to date.
Image: DataRobot
A message from John Furrier, co-founder of SiliconANGLE:
Support our mission to keep content open and free by engaging with theCUBE community. Join theCUBE’s Alumni Trust Network, where technology leaders connect, share intelligence and create opportunities.
- 15M+ viewers of theCUBE videos, powering conversations across AI, cloud, cybersecurity and more
- 11.4k+ theCUBE alumni — Connect with more than 11,400 tech and business leaders shaping the future through a unique trusted-based network.
About SiliconANGLE Media
SiliconANGLE Media is a recognized leader in digital media innovation, uniting breakthrough technology, strategic insights and real-time audience engagement. As the parent company of SiliconANGLE, theCUBE Network, theCUBE Research, CUBE365, theCUBE AI and theCUBE SuperStudios — with flagship locations in Silicon Valley and the New York Stock Exchange — SiliconANGLE Media operates at the intersection of media, technology and AI.
Founded by tech visionaries John Furrier and Dave Vellante, SiliconANGLE Media has built a dynamic ecosystem of industry-leading digital media brands that reach 15+ million elite tech professionals. Our new proprietary theCUBE AI Video Cloud is breaking ground in audience interaction, leveraging theCUBEai.com neural network to help technology companies make data-driven decisions and stay at the forefront of industry conversations.
