DataRobot, the leading enterprise AI platform, announced it has raised $270 million in a pre-IPO funding round led by Altimeter Capital. The financing, joined by many new and existing investors including T. Rowe Price, funds and accounts managed by BlackRock, Tiger Global, Silver Lake Waterman, B Capital Group, Glynn Capital, ClearBridge, NEA, and Sapphire Ventures, values the company at over $2.7 billion – more than double its Series E valuation.
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“We’re seeing overwhelming demand for our platform. This latest round of financing further validates this momentum, and we intend to use it to accelerate our rapid growth globally”
“The massive secular tailwinds driven by data, the cloud, and business intelligence have been central to our most significant investments in the last decade – and yet we are just getting started,” said Brad Gerstner, Founder and CEO, Altimeter Capital. “For too long, AI-driven insights were a distant promise, but we have hit an inflection point and DataRobot is at the front of the pack in terms of democratizing AI-driven business intelligence. This capability will be a must-have for all businesses and is poised to catalyze a new era of economic productivity.”
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DataRobot’s platform is trusted by many of the Fortune 500 and customers have built more than two billion machine learning models on its cloud platform.
“We’re seeing overwhelming demand for our platform. This latest round of financing further validates this momentum, and we intend to use it to accelerate our rapid growth globally,” said Dan Wright, President & COO of DataRobot. “Modern enterprises are generating and capturing more data than ever before, and this data is also changing more rapidly than ever. Traditional business intelligence and manual machine learning methods are completely inadequate to keep pace. Businesses need AI-driven insights into what will happen, rather than simply what has happened, in order to win in today’s increasingly competitive market.”
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