Weights and Biases, a US-based machine learning (ML) technology developer that counts Bloomberg Beta – the venture capital firm backed by media group Bloomberg – as an investor, has secured $135m in series C funding.
Insight Partners and Coatue Management co-led the round at a valuation of $1bn and were joined by Felicis Ventures and Bond, bringing the company’s total funding to $200m.
Founded in 2018, Weights and Biases creates tools to help customers develop ML models and operations (MLOps) for their businesses. The proceeds of the round will be used to develop more scalable tools that can grow alongside a customer’s ML activity.
The company’s $5m series A round was co-led by Bloomberg Beta and Trinity Ventures in May 2018, and both returned for a $45m series B in February this year that was led by Insight Partners and backed by Coatue, Nat Friedman and Richard Socher and Tom Preston-Warner.
Lukas Biewald, founder and CEO of Weights and Biases, said in a blog post: “Every day I am thrilled by the new applications of ML our customers are building: from composing new music to creating new medicine, helping farmers control pesticides, reducing energy use in buildings, sophisticated financial modelling and helping fight climate change.
“It has been great to hear their feedback as we continue to make W&B the best tool for ML practitioners.”
