DataRobot, a US-based machine learning automation platform developer backed by semiconductor technology producer Intel, insurer New York Life and human resources firm Recruit, has increased its series C round to $67.2m.
The $54m first tranche of the round was led by venture capital firm New Enterprise Associates (NEA) and closed in March this year. The additional funding was revealed through a regulatory filing on Friday.
DataRobot has created a machine learning automation platform that helps data scientists to create accurate machine learning models relatively quickly without needing strong coding skills.
The latest funding takes the company’s overall funding to approximately $124m since it was founded in 2012.
New York Life joined NEA and fellow VC firms Accomplice and IA Ventures for a $21m series A round in 2014 that valued DataRobot at $60m, before the four combined with Intel Capital and Recruit Strategic Partners, respective subsidiaries of Intel and Recruit, for a $33m series B in February 2016.