DataRobot Hits $6.3 Billion Valuation With Series G Round, Acquires Algorithmia
Boston – August 18, 2021 – Cooley advised augmented intelligence platform DataRobot on its $300 million Series G financing round and its concurrent acquisition of Algorithmia, a machine learning model deployment and management solution. Harley Brown, Pat Mitchell and Pat Argenio led the Cooley team advising DataRobot on the financing, while Brown and Heather Harrington led the team advising on the acquisition.
The round, which brings DataRobot’s valuation to $6.3 billion, was led by returning investors Altimeter Capital and Tiger Global, and included participation from new investors Counterpoint Global (Morgan Stanley), Franklin Templeton, ServiceNow Ventures and Sutter Hill Ventures. DataRobot will use the new capital to fuel platform innovation and enable the transformative impact of augmented intelligence to reach customers around the world.
“This new investment further validates our vision for combining the best that humans and machines have to offer in order to power predictive insights, enhanced data-driven decisions and unprecedented business value for our customers,” Dan Wright, CEO of DataRobot, said in a news release. “DataRobot is seeing more customers across the globe choose our platform to solve their biggest challenges at scale. We are grateful to have the continued support of Altimeter, Tiger and other world-class investors as we continue to increase our innovation lead during the next phase of our company’s growth.”
Additionally, DataRobot acquired Algorithmia to strengthen its status as the leader in machine learning operations and allow customers to rapidly move from experimental to applied artificial intelligence (AI). The acquisition gives customers the ability to monitor and manage all models in production, while continuously updating those models as data changes, to achieve unprecedented value with AI.
DataRobot delivers trusted AI technology and enablement services to global enterprises competing in today’s intelligence revolution. The company’s enterprise AI platform democratizes data science with end-to-end automation for building, deploying and managing machine learning models. Its proven combination of cutting-edge software and world-class AI implementation, training and support services empowers any organization – regardless of size, industry or resources – to drive better business outcomes with AI.
About Cooley LLP
Clients partner with Cooley on transformative deals, complex IP and regulatory matters, and high-stakes litigation, where innovation meets the law.
Cooley has 1,300 lawyers across 17 offices in the United States, Asia and Europe.