H2O.ai Raises $72.5M Led by Goldman Sachs and Ping An
H2O.ai , an open source artificial intelligence and automatic machine learning for the enterprise, announced it has secured $72.5 million in a Series D round, bringing the total funding to $147 million. The round was led by Goldman Sachs and the Ping An Global Voyager Fund with continued investments from Wells Fargo, NVIDIA and Nexus Venture Partners. Jade Mandel from Goldman Sachs will be joining the H2O.ai Board of Directors.
Since the last round, H2O Driverless AI, the award winning and industry leading automatic machine learning platform, has tripled H2O.ai’s customer base with expansion across every industry on every continent. H2O.ai has also grown its global footprint with AI Centers of Excellence in Prague and Chennai and added 10% of the world’s top data scientists, Kaggle Grandmasters, to the H2O.ai team. Customers of H2O.ai are becoming AI companies including leaders such as Aetna, Booking.com, Capital One, Comcast, Commonwealth Bank of Australia, Franklin Templeton, Hitachi, MarketAxess, Nationwide Insurance, PwC, Tokio Marine, Wells Fargo and Walgreens, leading AI transformations in their respective verticals.
“H2O.ai is democratizing AI and powering the imagination of every entrepreneur and business globally – we are making them the true AI superpowers. Our customers are unlocking discovery in every sphere and walk of life and challenging the dominance of technology giants. This will be fun.” – Sri Ambati, CEO and Founder at H2O.ai.
With this new round of investment, the company plans to accelerate innovation and expand sales and marketing globally. The new investment will be used to further simplify AI for business users with new and ground-breaking technologies. H2O.ai will continue to innovate to support AI4Good with a focus on wildlife and water conservation, and investments in its highly successful academic program that makes the H2O.ai portfolio freely available to students, researchers and universities.
“It’s clear that H2O.ai has solutions that have global relevance and appeal. Businesses around the world grapple with the challenge of applying machine learning in what are often resource constrained situations. We’ve been deeply impressed with the combination of technical sophistication and ease of use present in all of H2O.ai’s offerings, and we look forward to helping expand the H2O.ai footprint in China and across Asia.”- Donald Lacey, Managing Director and COO of the Ping An Global Voyager Fund.
Since its founding in 2012, H2O.ai has been on a mission to democratize AI for everyone. To that end, H2O.ai leads a thriving open AI movement of hundreds of thousands of data scientists in tens of thousands of organizations globally. With continuous feedback from the community, H2O.ai innovates to deliver the best platform to delight data scientists. The company’s premier community and customer event, H2O World New York, will be held on Oct. 22, 2019.
“We have been a big believer in H2O.ai since day one. We are ecstatic to see their success across the world with so many companies, in so many industries. AI in the enterprise is a reality that H2O.ai is driving. We are thrilled to continue backing Sri and team as they accelerate their growth trajectory.”- Jishnu Bhattacharjee, Managing Director at Nexus Venture Partners.
H2O.ai is poised to win world-wide with its strong global investor base that includes Barclays, Capital One, Crane Ventures, CreditEase, Goldman Sachs, New York Life, Nexus Venture Partners, NVIDIA, Paxion Ventures, Ping An Global Voyager Fund, SST Holdings, TransAmerica, Walden River Wood and Wells Fargo.
Finally, H2O.ai also announced its latest release of H2O Driverless AI which empowers every company to be an AI company.