It's impossible to go back to the 2019 strategy, especially for benefits. Find out what your employees are expecting in the new normal and how to keep your edge.All Transform 2021 sessions are available for immediate download. You can watch the video now.DataRobot is a startup that creates an enterprise AI platform. Today, the company closed a $300 million series-G funding round. It was led by Altimeter Capital, Tiger Global, and Franklin Templeton. Sutter Hill Ventures also participated. DataRobot's value has risen to $6.3 billion from $2.7 billion in November 2020. This round comes as DataRobot closes the deal to acquire Algorithmia, a Seattle-based MLOps startup.CEO Dan Wright stated that the funds will be used for platform innovation and to allow DataRobot's clients to benefit from augmented intelligence. DataRobot will be expanding its go-to market teams with Sutter Hill supporting its hiring efforts.Wright stated that this investment validates our vision of combining the best of humans and machines to power predictive insight, improved data-driven decisions and unrivalled business value for customers. DataRobot has seen a rise in global customers who choose to use our platform to tackle their most difficult problems at scale.Although the benefits of AI/machine learning may seem intangible at times it has not stopped organizations from adopting these technologies at large scale. Recent research from ManageEngine, Zoho's IT division, shows that AI adoption by businesses is increasing. Gartner also found that AI use in business grew by 270% between 2015 and 2019, with IBM accounting for almost one-third.However, AI adoption does not always result in success. Jeremy Achin, a former Travelers director of research, modeling, and Tom de Godoy, a former colleague, created Boston-based DataRobot, Massachusetts in 2012. They wanted to create tools that would help customers prepare and validate machine learning models. This included classification, advanced regression, time series and deep learning algorithms.DataRobots platform can be used on cloud platforms or on-premise datacenters. It also comes as a fully managed service. Customers can monitor their models via a dashboard. They can also run and test the models, as well as maintain them to maximize results. DataRobot can run competitions to test hundreds, or even thousands of solutions for a problem. It also delivers models that provide predictions. DataRobot also allows data scientists the ability to combine and shape data from traditional tabular data (rows and columns) to create assets suitable for AI models.DataRobot claims that it has had triple-digit recurring revenues growth since 2015 and more than 2 million models have been built on its platform. More than a third (or more) of Fortune 50 companies use DataRobot's services, including Kroger and Nationwide as well as PNC and other financial, healthcare, insurance and finance verticals such as banking, gaming, retail, government and sports.DataRobots has now raised over $1 billion in new funding. This makes DataRobots one of the most well-funded AI startups worldwide, surpassing competitors such as Determined AI, Ople and Domino Data Lab.AlgorithmiaDataRobot claims that its acquisition of Algorithmia will cement its position as a provider in the MLOps market. This was announced along with the series G close today. Wright stated that DataRobot will combine Algorithmia's model-serving tools and its existing monitoring, management and capabilities to provide customers with the most reliable, cost-effective and cost-effective operational backbone to run any machine learning model. This includes deep learning workloads for image processing on CPUs or GPUs.Wright stated that Algorithmia's technology and people significantly improve our mission to quickly move from experimental AI to applied AI. They help customers bring every model into production in a rapid time frame, adding that Wright is not the only one who believes this. Algorithmia is delighted to welcome them to our MLOps offering, which offers enterprise-grade MLOps infrastructure that is second to none to companies around the world.Algorithmia was established in 2014 by Kenny Daniel and Diego Oppenheimer. It aims to produce models with enterprise-grade security. Algorithmia blends AI, MLOps and DevOps practices, creating processes to organize customers machine learning work from IT and data scientists. This allows them to move models into production.According to CEO Oppenheimer, Algorithmia has been used by more than 130,000 IT professionals, data scientists, engineers, and IT operations. This includes Fortune 500 companies such as Merck, Ernst & Young and Deloitte. Algorithmia raised $38.1 million capital before the acquisition from Gradient Ventures and Norwest Venture Partners.Oppenheimer stated in a press release that they understand that machine learning models are not valuable to businesses if they can't deliver them quickly, reliably and at scale. DataRobot has shared this belief for many years. We are thrilled to combine our commitment to enabling customers to succeed in today's market by delivering more models faster and protecting their businesses.DataRobot also acquired Nutonian, a company that developed Eureqa, a service that focuses on time series, numeric, classification and multi-series capabilities. DataRobot also acquired Nexosis, Paxata and Cursor, which are companies that help developers create AI apps and prepare data.
