DataRobot Raises $21M Series A

Even before launching its full-scale service that cranks out algorithms for use by data scientists, DataRobot Inc. has nabbed a $21 million Series A round at a $60 million pre-money valuation, Venture Capital Dispatch has learned.

Data scientists are in high demand as companies seek to glean insights from the masses of data they collect.

DataRobot


 is a predictive analytics platform used by data scientists to help construct and deploy predictive models. Because the deployment process can drag on for months, models can grow obsolete by the time it takes them to be deployed. This is a critical pain point in data science, and one that DataRobot seeks to mitigate by speeding up the process.
DataRobot builds, tests and refines hundreds of models to help data scientists find the ones best suited for their data. The investigation is transparent, allowing users to trace and verify the validity of its results. Platform users can also code, train, test and compare their own models on the platform.
DataRobot also finds key drivers in business metrics, identifies key words and phrases within unstructured text, and can output basic visualizations of its findings.
As DataRobot is built to enhance rather than replace the work of a data scientist, DataRobot users need to have at least a basic understanding of data science methodologies and business intelligence tools like Tableau or Excel.

Features and Capabilities

• Predictive Analytics: Yes
• Automatic: Partially, targets need to be set manually, the system cannot generate insights without guidance
• Data types: Structured only, except for a basic identification of key phrases within unstructured text
• Natural Language Generation: Yes, concisely
• Professional Training: Yes, “DataRobot University” trains customers in data science
• Transparency: Users can track DataRobot’s model selection process, from its features to its algorithms
• Data Visualization: Yes, as a supporting feature
• Delivery Model: Cloud and on-Premise
• Implementation Time: Details unavailable