US-based, enterprise-focused artificial intelligence technology provider DataRobot secured $206m yesterday in a series E round featuring Intel Capital, semiconductor and data technology provider Intel’s corporate venturing unit.
Venture capital firm Sapphire Ventures led the round, which included Tiger Global Management, World Innovation Lab, Alliance Bernstein PCI, EDBI, DFJ Growth, Geodesic Capital, Sands Capital, New Enterprise Associates (NEA) and Meritech Capital.
The round valued the company at $1bn pre-money, according to TechCrunch. Initial details were reported by Xconomy in July this year.
Enterprise customers use DataRobot’s technology and the open source machine learning algorithms it provides to build advanced AI applications and machine learning models tailored to their work.
The series E proceeds have been earmarked for further development of the DataRobot cloud platform, which the company said has now been responsible for the creation of more than 1 billion models.
The company said it has now raised $431m in total, $21m of which came in a 2014 series A round led by NEA that included insurance firm New York Life, Atlas Venture and IA Ventures.
NEA also led DataRobot’s $33m series B two years later, investing with Intel Capital, New York Life, Atlas Venture successor Accomplice, IA Ventures and Recruit Strategic Partners, a corporate venturing vehicle for human resources firm Recruit.
The company added $67.2m in a 2017 series C round before raising $100m in series D funding from Meritech, Sapphire Ventures, DFJ Growth, NEA and IA Ventures in October 2018.
