DataRobot, a US-based artificial intelligence software developer backed by corporates Intel, Recruit and New York Life, has attracted approximately $200m in series E funding, Xconomy reported on Monday.
The round was led by venture capital firm Sapphire Ventures and valued DataRobot at more than $1bn, a source told Xconomy. A second source suggested the round’s target size was $250m, after a separate report by Prime Unicorn Index last week had put the target size at $220m.
A spokesperson for DataRobot said the company would make an official announcement if it raised funding but offered no further details.
Founded in 2012, DataRobot has created a software platform that can be used by data scientists to automate the building and deployment of machine learning (ML) models and artificial intelligence applications.
The platform features a library of several hundred open source algorithms to facilitate and accelerate the development of applications for purposes such as tracking fraudulent financial transactions or predicting whether a patient is at risk of being readmitted to hospital.
The round came after a series of recent acquisitions by DataRobot, including last month’s purchase of ParallelM, a US-based developer of ML monitoring software that had been backed by Intel Capital.
DataRobot also convinced Igor Taber, formerly a managing director at Intel Capital, to come onboard as senior vice-president of corporate development and strategy in February this year.
DataRobot has now secured approximately $425m in equity financing altogether. It picked up $100m in a series D round co-led by Sapphire Ventures and Meritech Capital in October 2018 that also featured DFJ Growth, New Enterprise Associates (NEA) and IA Ventures.
Insurance provider New York Life, Intel Capital and Recruit Strategic Partners, respective strategic investment vehicles for chipmaker Intel and human resources firm Recruit, backed the company’s $33m series B round in 2016.
The series B round also featured NEA, IA Ventures and Atlas Venture, which had joined New York Life in a $21m series A for DataRobot in 2014.
