Founded in 2013, Algorithmia builds tools to help companies incorporate machine learning into their operations to increase productivity and efficiency as well as create new technologies.
DataRobot is similar, automating the building and deployment of machine learning models for large enterprises.
“It was the perfect fit for Algorithmia with alignment on vision and mission to deliver AI/ML to every enterprise on earth,” Algorithmia CEO Diego Oppenheimer told Mekhato.
Oppenheimer will remain at DataRobot following the acquisition. He co-founded Algorithmia with Kenny Daniel, the company’s CTO. Oppenheimer was previously at Microsoft for more than five years, where he helped design, manage and ship some of the company’s data products including Excel, Power Pivot, SQL Server and Power BI. He was a finalist for Startup CEO of the Year at the Mekhato Awards last year.
Algorithmia had raised $37.9 million to date, including a $25 million Series B round in 2019. Investors include Norwest Venture Partners, Madrona Venture Group, Gradient Ventures, Work-Bench, Osage University Partners, and Rakuten Capital. Algorithmia has 58 employees.
DataRobot also announced a $300 million Series G funding round alongside its acquisition of Algorithmia.