Kumo, a San Francisco, CA-based graph machine learning-centered AI platform that allows anyone in an organization to harness the power of data to make faster, simpler, and smarter predictions, announced that it raised $18 million in Series B funding.
Sequoia Capital led the round. Existing and new investors, including A Capital, SV Angel, Ron Conway, Michael Ovitz, Frank Slootman, Kevin Hartz, Clement Delangue, and Michael Stoppelman, participated in this round.
Kumo will use the new funding to continue its hiring efforts, bring its leading AI technology to more companies, and invest in R&D to expand its platform and services.
On October 16, anyone can sign up for Kumo's first product release via Kumo's website.
"Kumo brings a new paradigm for predictive AI over cloud-based data powered by graph ML, which we are thrilled to be in a position to introduce more broadly to the world," said Vanja Josifovski, Co-Founder and CEO. "We are building a platform that is end-to-end, automating every step from ingesting data from source systems all the way to making predictions that can directly help businesses grow faster and operate more efficiently. Democratization of AI to all users regardless of machine learning (ML) experience has been the promise for a long time, but our unique approach, leveraging the inherent connectedness of your data, is the first to truly deliver on that promise. The Kumo product is also a huge win for CTOs and Chief Data Officers, allowing their colleagues in other parts of the business to harness the predictive power of AI by their teams directly rather than needing to constantly rely on the data team."
Stanford and Dortmund University AI labs developed Kumo's graph ML technology for five years with Pytorch Geometric open-source software, the world's most commonly used graph neural network open-source framework. Kumo's founders, Josifovski (former Airbnb CTO Homes, Pinterest CTO, Google), Jure Leskovec (Stanford professor, former Pinterest Chief Scientist), and Hema Raghavan (former LinkedIn, IBM, Yahoo executive), saw an opportunity to operationalize graph learning research for a broad set of use cases in a user-friendly SaaS product.
Company: Kumo.ai, Inc
Raised: $18.0M
Round: Series B
Funding Month: September 2022
Lead Investors: Sequoia Capital
Additional Investors: A Capital, SV Angel, Ron Conway, Michael Ovitz, Frank Slootman, Kevin Hartz, Clement Delangue, and Michael Stoppelman
Company Website: https://kumo.ai/
Software Category: Graph Machine Learning-Centered AI platform
About the Company: Kumo is a venture-backed, innovative SaaS AI platform for the modern data stack that allows businesses to make faster, simpler, and smarter predictions. Founded by several pre-eminent AI executives from companies like Pinterest, Airbnb, and LinkedIn, the core technology that underpins Kumo's product has been in development for the past five years through Stanford/Dortmund labs and PyG open-source software. Kumo makes graph learning easy to use – any business can leverage the power of graph-based AI to better their business.
Source: https://www.businesswire.com/news/home/20220927005002/en/Predictive-AI-Startup-Kumo-Raises-18-Million-in-Series-B-Funding-Led-By-Sequoia-Capital-Will-Broadly-Roll-Out-First-Version-of-Its-Product-on-October-16