Boston based DataRobot, which develops technology to automate the process of building and operationalizing machine learning models, has raised $100 million in a Series D funding round, bringing its total funding to $225 million. The company's series a funding was back in 2014, when the team raised $21 million, led by New Enterprise Associates.
DataRobot's technology helps companies in a variety of ways, from reducing costs to finding new revenue opportunities and identifying potential threats. Customers have built more than 1 billion machine learning models on its automation platform used for scaling their AI projects.
This latest funding round was led by Meritech and Sapphire Ventures, with participation from DFJ Growth and 16 previous investors including NEA, IA Ventures, and Intel Capital. Meritech’s Rob Ward and Sapphire’s Jai Das have joined the Board of Directors.