Boston-based DataRobot raised $54 million in investments. It uses machine learning technologies and helps businesses build forecasting models.
The money in DataRobot was invested by the investor New Enterprise Associates. With these funds, the company expects to fulfill its mission: to make machine learning and forecasting capabilities a familiar tool in international business.
DataRobot will double its research and development team, expand its global presence and increase partner support.
“The DataRobot platform has been carefully developed, tested and brought to mind by the world’s leading data scientists. Today, computers perform up to 90% of the work on information analysis: machine forecasting has become a reality,” said Jeremy Achin, CEO and co-founder of DataRobot.
Source: Venture Beat