US-headquartered artificial intelligence software provider DataRobot has added $50m from corporates Snowflake, Hewlett Packard Enterprise (HPE) and Salesforce – through its Salesforce Ventures unit – to a series F round now totalling $320m.
Data-warehousing software producer Snowflake, IT services firm HPE and enterprise software provider Salesforce followed on from the $270m first tranche the company closed last month, and the overall round is being led by technology investment firm Altimeter Capital.
T.Rowe Price, Tiger Global Management, Silver Lake Waterman, B Capital Group, Glynn Capital, ClearBridge, New Enterprise Associates (NEA), Sapphire Ventures and funds and accounts managed by BlackRock joined Altimeter for the first close.
DataRobot has built an AI software platform designed for use by enterprise customers, allowing them to automate the creation, release and management of machine learning models at scale to help them improve the efficiency of their businesses.
Snowflake invested through an extension to an existing partnership between the two companies that involves integrating their products and go-to-market activities.
The round valued the company at $2.8bn post-money, up from $1.2bn in a $206m series E round in September 2019 led by Sapphire Ventures and backed by Intel Capital, the investment arm of semiconductor and data technology producer Intel.
Tiger Global Management, NEA, World Innovation Lab, Alliance Bernstein PCI, DFJ Growth, Geodesic Capital, Sands Capital, Meritech Capital and EDBI also participated in the series E round.
Meritech Capital and Sapphire Ventures co-led a $100m series D round for DataRobot in late 2018 that included DFJ Growth, NEA and IA Ventures, after it closed a $67.2m series C round featuring NEA the previous year.
DataRobot had previously completed a $33m series B round in 2016 led by NEA that included Intel Capital, insurer New York Life and Recruit Strategic Partners, a subsidiary of human resources firm Recruit, in addition to IA Ventures and Accomplice.
NEA led a $21m series A round for the company two years earlier, investing alongside New York Life, IA Ventures and Atlas Venture, the last of which had previously supplied $3.3m in seed funding in 2013.
