H2O.ai raises $100M at a $1.6B pre-money valuation for tools to make AI usable by any kind of enterprise
H2O.ai — a startup that has developed an open-source framework as well as proprietary apps that make it easier for any kind of enterprise to build and operate artificial intelligence-based services — has seen a surge of interest as AI applications have become more ubiquitous, and enterprises beyond tech companies want to get in on the action. Now, it has raised $100 million to fuel its growth, a round of funding that values H2O.ai at $1.7 billion post-money ($1.6 billion pre-money).
The company has offered an open source component to its services, which it calls simply H2O, from its earliest days, and that is now used by over 20,000 enterprises. Part of the reason for that is its flexibility: H2O.ai says that its open source framework works both on top of existing big data infrastructure, on bare metal or on top of existing Hadoop, Spark or Kubernetes clusters and is able to ingest data directly from HDFS, Spark, S3, Azure Data Lake or any other data source into it’s in-memory distributed key-value store.
See the full story here: https://techcrunch.com/2021/11/07/h2o-ai-raises-100m-at-a-1-7b-valuation-for-tools-to-make-ai-usable-by-any-kind-of-enterprise/
