DataRobot has raised approximately $200M in a Series E funding round in the ballpark led by Sapphire Ventures. According to a source, the funding is going to be used the company to help advance the development of its automated machine learning and AI software. And this makes the company’s total venture funding over $400 million and it also steps into the land of the unicorn with a valuation over $1 billion.
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That is not all, there are talks that the company could also manage to bag additional funding and take the latest round to $250 million.
According to the source, the company has said that it continues to experience significant growth, attracting an increased level of interest in the company. Founded in 2012, DataRobot has bagged this funding in less than a year’s from its Series D funding round of $100 million which was led by the Meritech and Sapphire Ventures.
DataRobots of Boston develop and provided enterprise-grade platforms that focus on automating the process of building and operationalizing machine learning models. Further, over the last couple of years, the company has provided its technology and platform to different companies across different industries and geographies, regardless of size and level of AI maturity. For example, in the banking sector, its platform could help banks automatically assess credit default risk and track fraudulent transactions.