H2O.ai, a Mountain View, CA-based startup that has developed an open-source framework as well as proprietary apps that make it easier for any kind of enterprise to build and operate artificial intelligence-based services, raised $100 million in Series E to fuel its growth, a round of funding that values H2O.ai at $1.7 billion post-money ($1.6 billion pre-money).
The round was led by a strategic backer, the Commonwealth Bank of Australia (CBA), which has been a customer of the startup and will be using the backing to kick off a deeper partnership between the two to build new services.
Others in the round include Goldman Sachs, Pivot Investment Partners, Crane Venture Partners, and Celesta Capital. Mountain View-based H2O.ai has raised $246.5 million to date.
Further plans for the funding include building more products for H2O.ai as a whole and hiring more talent to continue expanding the company’s H2O AI Hybrid Cloud platform.
Company: H2O.ai, Inc.
Raised: $100.0M
Round: Series E
Funding Month: November 2021
Lead Investors: Commonwealth Bank of Australia (CBA)
Additional Investors: Goldman Sachs, Pivot Investment Partners, Crane Venture Partners, and Celesta Capital
Company Website: http://h2o.ai/
Software Category: AI Hybrid Cloud platform
About the Company: H2O.ai is the leading AI cloud company, on a mission to democratize AI for everyone. Customers use the H2O AI Hybrid Cloud platform to rapidly make, operate and innovate to solve complex business problems and accelerate the discovery of new ideas. H2O.ai is the trusted AI partner to more than 20,000 global organizations, including AT&T, Aegon/ Transamerica, Allergan, Bon Secours Mercy Health, Capital One, Commonwealth Bank of Australia, GlaxoSmithKline, Hitachi, Kaiser Permanente, PayPal, PWC, and Walgreens, over half of the Fortune 500 and one million data scientists. Goldman Sachs, NVIDIA, and Wells Fargo are not only customers and partners, but strategic investors in the company. H2O.ai’s customers have honored the company with a Net Promoter Score (NPS) of 78— the highest in the industry based on breadth of technology and deep employee expertise. The world’s top 20 Kaggle Grandmasters (the community of best-in-the-world machine learning practitioners and data scientists) are employees of H2O.ai. A strong AI for Good ethos to make the world a better place and Responsible AI drive the company’s purpose.
Source: https://techcrunch.com/2021/11/07/h2o-ai-raises-100m-at-a-1-7b-valuation-for-tools-to-make-ai-usable-by-any-kind-of-enterprise/