US-based data science software developer Domino Data Lab raised $100m in a series F round featuring graphics processing unit producer Nvidia yesterday.
Private equity firm Great Hill Partners led the round, which included Coatue Management, Highland Capital Partners and Sequoia Capital. The company said the deal brought its total funding to $228m.
Domino provides an open data science platform allowing businesses and other organisations create, improve and manage their data science activities through its enterprise machine learning technology. It claims to have doubled annual recurring revenue over the past two years.
Concurrent to the funding, the company has expanded an existing partnership with Nvidia that was launched last year to develop product functionality which would allow Domino’s technology to run on Nvidia-certified systems.
Highland Capital Partners led a $43m series E round for Domino in June 2020 also featuring computing technology provider Dell’s corporate venturing unit, Dell Technologies Capital, as well as Highland Europe, Sequoia Capital and Coatue. The last two had previously led its $40m round in 2018.
Bloomberg Beta, the venture capital firm sponsored by media group Bloomberg, took part in another Coatue-led round the previous year that raked in $27m and which included Sequoia Capital and Zetta Venture Partners.
Sequoia Capital had led a $10.5m round for the company in 2016 that included Bloomberg Beta, Zetta Venture Partners and In-Q-Tel, taking its overall funding to nearly $14m.
Domino co-founder and chief executive Nick Elprin said: “Our mission is to help our customers unleash the power of data science.
“We are thrilled to have the support of Great Hill Partners and Nvidia to accelerate our growth and innovation, which in turn will help our customers address the world’s most important challenges.”
