H2O.ai, based out of California, is an open-source platform in AI (artificial intelligence) and automatic machine learning, which has received $72.5 million (approx ₹519 crore) funding from Goldman Sachs and Ping An Global Voyager Fund.
The company said that the current round raised the total funding in the company to around $147 million and Jade Mandel, from the Goldman Sachs, will be joining the H2O.ai as Board of Directors.
The infused funds will be used by the company to accelerate innovation and expand sales and marketing globally and to further simplify AI for business users with new and ground-breaking technologies.
H2O.ai was founded by Sri Ambati in 2012. As mentioned above, it is an open source leader in AI and automatic machine learning with Driverless AI.
The platform aims to democratize AI for all and to transform the use of AI with software with its category-creating visionary open source machine learning platform, H2O.
More than 18,000 companies use open-source H2O in mission-critical use cases for Finance, Insurance, Healthcare, Retail, Telco, Sales, and Marketing, as per the company’s website.
H2O.ai recently launched Driverless AI that uses AI to do AI in order to provide an easier, faster and effective means of implementing data science.
“H2O.ai is democratizing AI and powering the imagination of every entrepreneur and business globally – we are making them the true AI superpowers,” said Sri Ambati, chief executive and Founder at H2O.ai.
“Our customers are unlocking discovery in every sphere and walk of life and challenging the dominance of technology giants. This will be fun,” Ambati added.
“We’re thrilled to partner with the H2O.ai team on their mission to democratize artificial intelligence,” said Jade Mandel, Vice President, Principal Strategic Investments Group at Goldman Sachs.
“Their deep technical bench and customer centricity make them well positioned to bring transparency and efficiency to the world of prediction,” Mandel added.