Datarobot, a US-based machine learning platform developer that counts corporates Intel, Recruit and New York Life as investors, has raised $100m in series D funding, Xconomy reported yesterday.
Growth equity firm Meritech Capital and venture capital firm Sapphire Ventures co-led the round, investing together with DFJ Growth, New Enterprise Associates (NEA) and IA Ventures, the company confirmed to Xconomy in an email.
Founded in 2012, Datarobot has built a software platform that allows data scientists to automate elements of the creation of accurate machine learning models, meaning they can test models and generate results more quickly.
The technology is used in a variety of industries, helping financial services and insurance providers assess risk, healthcare providers predict treatment outcomes and sports teams weigh up potential acquisitions.
The round increased the company’s funding to about $225m in total. It secured $54m in March 2017 for the first tranche of a series C round that reportedly valued it at more than $250m. The first close, which was led by NEA, was followed by a further $13.2m five months later.
NEA, insurance firm New York Life, IA Ventures and existing investor Atlas Venture had previously supplied $21m in series A funding for Datarobot in 2014.
The series A participants returned for a $33m series B round in early 2016 that included Intel Capital and Recruit Strategic Partners, respective corporate venturing vehicles for semiconductor technology producer Intel and human resources firm Recruit.