DataRobot raises $100m in its Series D led by Meritech, Sapphire

Machine learning and AI technology developer DataRobot has raised $100m in its Series D round.

The new round was led by Meritech and Sapphire Ventures, with participation also coming from DFJ Growth. There were also 16 of the company’s previous investors to recommit to the company including NEA, IA Ventures, and Intel Capital.

This new burst of funding has brought the company’s total equity raises to $225m.

DataRobot is a machine learning platform to help data scientists build and develop predictive models for companies within the banking, FinTech, insurance, public sector, healthcare, energy and other industries. The company compares algorithms, pre-processing steps, features, transformations, and tuning parameters to create the best models for companies.

Founded in 2012, the company has a library of hundreds of open source machine learning algortihms, ranging from reducing costs to finding new revenue opportunities to identifying threats.

With this latest investment, the company will look to meet the demand for automating data science and expand its product portfolio. Capital will also be used to fuel the expansion of its global operations and develop its offerings.

As part of the deal, Meritech managing director and co-founder Rob Ward and Sapphire Ventures managing director Jai Das have joined the company’s board of directors.

Sapphire Ventures managing director Jai Das said, “Machine learning and AI are transforming business processes for companies of all types and sizes, but this can be difficult for organizations that don’t have data science teams or are having difficulty scaling up their data science teams.

“DataRobot is filling an important gap in the market by delivering a platform that helps data scientists and non-data scientists — business analysts, software engineers, and data engineers — build machine learning models and AI applications more efficiently and effectively.”

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