Algorithmia, A Seattle-based startup that offers an enterprise automation platform for enterprise cloud compatibility, today announced a $ 25 million category B financing round led by Norwest Partners. Madrona, Gradient Ventures, Work-Bench, Osage University Partners and Rakuten Ventures also participated.
"It's really hard to produce automated learning models" Algorithmia Said CEO Diego Oppenheimer. "It is difficult to help data scientists not to deal with the data infrastructure but in fact the ability to build automated learning and artificial intelligence muscles."
To help them, the algorithm was designed primarily for the DevOps automated learning platform, which allows data scientists to train their models on the platform and in a framework of their choice and bring it to Algorithmia – a platform already blessed by their IT departments – taken into production.
"Every Fortune 500 CIO Rama Sekhar, a partner at Norwest Venture Partners, who now joined the board of directors, said: "It has AI but is overwhelmed by the difficulty of managing and deploying ML models." "Algorithmia Is a leader in building the tools necessary to manage the full automated learning lifecycle and help customers to unlock value from their R & D investments. "
With the new financing, the company will double this focus by investing in product development to solve these problems, and also by building its team with a plan to double its workforce next year. A year later, Oppenheimer told me he hoped the algorithm would be a familiar name for data scientists, and perhaps more importantly, their favorite program for modeling production.
"The algorithm worked when our customers could deploy AI and ML applications." Although there is a lot of excitement about doing this, the truth is that it's hard for companies to do that. "
The company has already raised a $ 10.5 million category A tour Led by the Google Fund for Amnesty International. It now includes customers United nations, A number of US intelligence agencies and Fortune 500 companies. In total, there are now more than 90,000 engineers and data scientists in the platform.