Enterprise artificial intelligence company DataRobot has raised $270 million in a new round of funding, likely its last fundraise before going public, according to company execs.
DataRobot’s automated platform helps companies build and deploy predictive models, per the company. The age of “experimental AI” is gone, according to Wright, and now “it’s all about the ability to make better insights that allow you to make better decisions.”
The new funding will be used for research and development, scaling the company internationally, investing in its business with federal governments, and building out company operations as DataRobot grows, according to Wright.
The company is expanding rapidly in Europe and will be growing in Australia, Singapore and the Asia Pacific region.
In terms of growth, DataRobot is “well over” $100 million in annual recurring revenue, Wright said, and it’s seeing high double-digit growth.
According to Wright, more than 2 billion machine-learning models have been built to date on DataRobot’s cloud platform.