Home Startups In brief: H2O.ai announces US$72.5M Series D led by Goldman Sachs

In brief: H2O.ai announces US$72.5M Series D led by Goldman Sachs

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Source:TechCrunch

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  • H2O.ai‘s mission is to democratize AI by providing a set of tools that frees companies from relying on teams of data scientists.
  • The company announced a US$72.5 million Series D round led by Goldman Sachs and Ping An Global Voyager Fund.
  • Previous investors Wells Fargo, Nvidia and Nexus Venture Partners also participated.
  • Under the terms of the deal, Jade Mandel from Goldman Sachs will be joining the H2O.ai board. Today’s investment brings the total raised to US$147 million.
  • The company’s main product, H2O Driverless AI, introduced in 2017, gets its name from the fact it provides a way for people who aren’t AI experts to still take advantage of AI without a team of data scientists.
  • Driverless AI is automatic machine learning, which brings the power of a world-class data scientists in the hands of everyone. lt builds models automatically using machine learning algorithms of every kind.
  • They introduced a new recipe concept today, which provides all of the AI ingredients and instructions for building models for different business requirements.
  • H2O.ai’s team of data scientists has created and open-sourced 100 recipes for things like credit risk scoring, anomaly detection and property valuation.
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Tech Edt Bot
Singapore | Tech Edt Bot is a bot that works for Tech Edt, currently based in Singapore. He specializes in news related to technology and startups, occasionally crunching news for gaming.

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