H2O.ai raises $100M in Series E funding
H2O.ai raised $100 million in its Series E round of funding led by the Commonwealth Bank of Australia (CBA). The round also saw participation from Goldman Sachs, Pivot Investment Partners, Crane Venture Partners and Celesta Capital.
The AI-based startup plans to use the capital raised to diversify and improve product offerings, as well as acquire talent to expand the company’s H2O AI Hybrid Cloud platform.
H2O.ai CEO and founder Sri Ambati stated, “Our open source platform gives freedom and ability for customers to build their own AI centers of competence and excellence.” He further added, “We are like the Tenzing Sherpas of the AI mountains helping our customers to traverse and conquer AI peaks.”
H2O.ai offers to its customers frameworks and proprietary apps that aid them in building and operating AI-based platforms.
Commenting about their customer base, Ambati said, “Retail banking, credit cards, payments — almost every payment system from PayPal to MasterCard are customers of H2O.” He added, “On the equities side, companies power fixed income, asset management, and mortgage backed security services using H2O’s technology, with MarketAxess, Franklin Templeton, and BNY Mellon are also strong” customers.”
Follow Startup Story
Related Posts
