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Algorithmia raises $25M Series B for its AI automation platform

Algorithmia, a seattle-based startup that offers a cloud-agnostic AI automation platform for enterprises, today announced a $25 million successions B funding circular led by Norwest Partners. Madrona, Gradient Ventures, Work-Bench, Osage University Partners and Rakuten Ventures also participated in this circular.

While the company started out five years ago as a market for algorithms, it now mostly focuses on gagdet learning and helping enterprises take their models into production.

“It’s actually really rigid to productionize gagdet learning models,” Algorithmia CEO Diego Oppenheimer told me. “It’s rigid to aid data scientists to not deal with data infrastructure but really being able to build out their gagdet learning and AI muscle.”

To aid them, Algorithmia essentially built out a gagdet learning DevOps platform that allows data scientists to train their models on the platform and with the framework of their decision, bring it to Algorithmia — a platform that has already been blessed by their IT departments — and take it into production.

“Every luck 500 CIO has an ai initiative but they are bogged down by the difficulty of managing and deploying ML models,” said Rama Sekhar, a partner at Norwest adventure Partners, who has now joined the company’s board. “Algorithmia is the clear master in construction the tools to oversee the finish gagdet learning life cycle and helping customers unlock value from their R&D investments.”

With the brand-new funding, the company will double down on this focus by investing in product development to unravel these issues, but also by construction out its faction, with a plan to double its headcount over the next year. a year from now, Oppenheimer told me, he hopes that Algorithmia will be a household name for data scientists and, maybe more importantly, their platform of decision for putting their models into production.

“How does Algorithmia succeed? Algorithmia succeeds when our customers are able to deploy AI and ML applications,” Oppenheimer said. “And although there is a ton of excitement around doing this, the fact is that it’s really strenuous for companies to do so.”

The company previously raised a $10.5 million successions a circular led by Google’s AI fund. It’s customers now include the United Nations, a number of U.S. intelligence agencies and luck 500 companies. In total, more than 90,000 engineers and data scientists are now on the platform.


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