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Silicon Valley-Based H2O.ai Raises $72.5 Million In Series D Round

H2O.ai is a Silicon Valley-based open software source company, which has been aiming to democratize AI by offering a variety of its tools. These tools, in fact, act as a substitute for data scientists’ teams, on which several companies have been relying. To further enhance its platform, H2O.ai recently raised $72.5 Million in Series D funding round led by China’s Ping An Global Voyager Fund and Goldman Sachs Group Inc. Along with these two, the existing investors Nexus Venture Partners, Wells Fargo, and NVIDIA also contributed to the recent investment.

After the recent fundraising round, the total investment in the company has reached $147 Million. At the time of investment, Goldman Sachs finalized the deal that one member from the investment would join the board team of H2O.ai.

Since the Series C fundraising round held in 2017, the company has been growing at a significant rate. Its workforce has increased from 70 to 175 within the last two years. Moreover, its customer base has also expanded to almost three times. Sri Ambati—Cofounder and CEO of H2O.ai—didn’t mention the precise number of customers.

He neither talked about the company’s current market valuation nor revealed any information about when the firm would possibly go public.

Likewise, former executives of Oracle established Incorta, an analytics software platform. Their key motive behind launching this platform was to amend the process of managing the piles of data in a quicker way. Last week, the startup raised $30 Million in Series C funding round led by Sorenson Capital.

Other investors backing Incorta in the recent fundraising round were Ron Wohl, Kleiner Perkins, M12, GV, and Telstra Ventures. To date, Incorta has brought the total investment of $75 Million since its establishment.

The company revealed that its revenue has been growing progressively at a rate of 284% year-over-year. However, it didn’t share the precise figures.

Mitchell Sullivan
Mitchell Sullivan Subscriber
Managing Editor At Industry News Time 24

With a vast experience in writing news articles on the latest business trends and predictions in the market, Mitchell is a columnist that offers a comprehensive economic understanding of the sector. With a bundle of qualities such as good decision-making abilities accompanied by a creative and innovative mind, Mitchell is known as one of the most knowledgeable entities on the floor. He completed a Diploma In Business Administration and holds experience of approximately 6 years in this field. His core business management knowledge and affection toward the freedom of expression using words has made him qualified to become the Managing Editor at Industry News Time 24.

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