Aiming to help businesses move more models into production

Enterprise AI platform developer DataRobot has raised $300m in a Series G funding round, and closed a new acquisition.

The startup has acquired Algorithmia, a machine learning operations (MLOps) platform, which it plans to integrate into its main product offering.

One platform to rule them all

The latest round, which values DataRobot at $6.3 billion, was led by Altimeter Capital and Tiger Global, with participation from Morgan Stanley’s Counterpoint Global, Franklin Templeton, ServiceNow Ventures, and Sutter Hill Ventures.

DataRobot’s new acquisition, Algorithmia, develops tools that companies use to incorporate machine learning algorithms into their software development process. The platform focuses on establishing streamlined, productive, and repeatable procedures.

Algorithmia was established in 2013, and today has around 130,000 individual customers, across organizations like Merck, Ernst & Young, and Deloitte.

The company previously operated a marketplace for machine learning algorithms, but pivoted to helping companies apply those algorithms instead.

“Algorithmia’s people and technology significantly enhance our mission to rapidly move from experimental to applied AI by helping customers bring every model into production with rapid time to value,” said Dan Wright, CEO of DataRobot.

Algorithmia's CEO and co-founder Diego Oppenheimer, previously the program manager for Microsoft Excel, will stay on at DataRobot.

“We understand that businesses cannot get the value of their ML models unless they have the ability to deliver those models quickly, reliably, and at scale,” he said.

“It’s been clear to us for many years that DataRobot shares this philosophy, and we’re thrilled to combine our dedication of enabling customers to thrive in today’s market by delivering more models in production, faster, while protecting their business.”

Armed with the new acquisition and cash, DataRobot said that it would expand its AI platform – which it markets under the broad term Augmented Intelligence – and beef up its staffing levels in North America, EMEA, and Asia Pacific/Japan.