Domino Data Lab Secures $100 Million Funding to Help Every Company Become Model-Driven with Enterprise MLOps
Domino Data Lab, provider of the leading Enterprise MLOps platform trusted by over 20% of the Fortune 100, announced a $100 million funding round led by Great Hill Partners and an expanded partnership with NVIDIA, which is also participating in the round. Domino and NVIDIA will also further integrate products and expand joint sales efforts to support customers’ efforts to build model-driven businesses.
The Series F round includes additional participation from existing investors Coatue Management, Highland Capital Partners and Sequoia Capital, and brings the company’s total funding to $228 million.
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“Our mission is to help our customers unleash the power of data science,” said Nick Elprin, CEO and co-founder of Domino Data Lab. “We’re 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.”
Forrester expects the AI Maker Platform market to reach $13B by 2025. Domino’s growth is a testament to increased demand in this market, particularly for Enterprise MLOps platforms. In the past two years, Domino has doubled both its Annual Recurring Revenue as well as the number of Global 2000 companies using its platform.
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“As enterprises advance their adoption of machine learning, they increasingly require an enterprise-grade, open platform to orchestrate and manage these workloads – and Domino perfectly meets this growing market need,” said Derek Schoettle, growth partner at Great Hill Partners. “Speaking with Domino’s impressive roster of customers completely validated our great conviction in the company, and we have been particularly impressed by their stories about the massive ROI Domino has driven for them. We are thrilled to partner with Nick and the rest of the Domino team to help drive their next phase of growth.”
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