H2O.AI began essentially six years ago with a mission to simplify and democratize artificial intelligence. nowadays the business announced a $ 40M series C round.
Nvidia and Wells Fargo led the round with participation from big apple existence, Crane undertaking partners, Nexus mission partners and Transamerica Ventures. today’s funding brings the entire raised so far to $ seventy five million. The final round was for $ 20M nearly exactly two years ago.
CEO Sri Ambati says his business is making an attempt to democratize AI, even as the biggest tech corporations like Amazon, Google, Microsoft, fb and Salesforce are trying to take handle of this market by using building proprietary equipment and sucking up much of the talent.
His company has taken a distinct method. they’ve created a platform with a combination of open source tools and items to deliver this expertise to businesses that don’t necessarily have the resources to appoint facts scientists and programmers with deep AI talents, however still wish to build these technologies into their purposes.
this is no longer to assert the company has unnoticed the bigger players. It nonetheless is partnering with AWS and Azure, even as it competes with them. The strategy appears to be working because the business reports that a hundred,000 statistics scientists, 12,400 groups and well-nigh half of the Fortune 500 are the usage of their products.
ultimate summer, it launched Driverless AI, a product that brings a excessive stage of automation to the computer researching system that could put it in reach of even non-technical conclusion users. TechCrunch’s John Mannes, writing in regards to the release described it this manner:
All of H2O.ai’s items assist to make AI more obtainable, however Driverless AI takes issues a step extra by means of bodily automating lots of the hard selections that deserve to be made when preparing a model. Driverless AI automates characteristic engineering, the method wherein key variables are selected to build a model.
The enterprise launched in 2011 and has close to 70 personnel. They may be hiring extra with new infusion of cash with plans to expand to Europe in the next 12 months. consumers consist of Capital One, Comcast, AT&T and Kaiser, amongst others.
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Fundings & Exits – TechCrunch