DataRobot to acquire data prep company Paxata
Enterprise AI platform DataRobot announced its plans to acquire Paxata , the pioneer of self-service data preparation and leading data fabric provider, to fulfill its mission to build the world’s first automated end-to-end enterprise AI platform.
“Data prep for AI has been a long-standing challenge for AI projects. With the addition of the AI-enabled data prep and enterprise data fabric solution from Paxata, we will now give business users the industry’s most complete enterprise-class platform to automate the AI lifecycle from start to finish.” – Jeremy Achin, CEO and Co-founder, DataRobot.
Paxata, which has raised $86 million in venture capital funding, is used by thousands of users across the largest companies in the world, including Standard Chartered Bank, Petco, and Nationwide Insurance.
As part of the acquisition, the companies unveiled a first-of-its-kind integration into DataRobot’s AI Catalog, making it easier for business analysts and citizen data scientists to prepare data for machine learning.
“Combining AI-enabled data prep from Paxata with enterprise AI capabilities from DataRobot will supercharge our ability to transform data and deliver better outcomes all within one platform. As current customers of both companies, we recognize the strategic value of this acquisition and look forward to the added capabilities that the integration and new data prep offering will provide.” – Ben Haines, SVP, Chief Information Officer at Verizon Media.
The Paxata acquisition is DataRobot’s third and largest acquisition in 2019 and fifth since 2017. Paxata builds on the success of DataRobot’s previous acquisitions, including ParallelM, which has been integrated via its MLOps offering, and Cursor, which has been integrated via the AI Catalog.
Paxata is a key piece of the end-to-end platform puzzle and will deliver massive value for the combined DataRobot and Paxata customer base.