H2O.ai plans to use the funding to invest in partnerships, sales, marketing, and customer success. Here are the top-line bullets you need to know.
H2O.ai, an open-source machine learning platform, has raised $100M in a Series E. The round drew participation from Goldman Sachs, Crane Venture Partners, and the Commonwealth Bank of Australia, among others.
How’s the company performing?
- California-based H2O.ai uses its automated machine learning (autoML) capabilities to develop products that allow organizations to solve complex business-related problems and speed up the discovery of new ideas.
- The company caters to over 20K global organizations — and its client base includes more than half of the Fortune 500 companies, e.g., Citi, Capital One, AT&T, PWC, Progressive, PayPal, and Hitachi.
- The platform recently announced the launch of its Wildfire and Bushfire Challenge — a global hackathon geared toward finding solutions to reduce the economic and climate impact stemming from wildfires and bushfires.
- H2O.ai operates across North America, EMEA (Europe, the Middle East, and Africa), and the Asia-Pacific region, and it maintains offices in California, New York, Canada, the Czech Republic, India, and Singapore.
Source: H2O.ai
Why does the market matter?
- The enterprise AI market is projected to grow at a CAGR of 35.4% and reach a value of $53.1B by 2026, according to Allied Market Research.
- As commercial applications of AI scale rapidly, enterprises are aiming to become “AI-first” by upgrading their existing data management and IT infrastructure.
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