H2O.ai Gets $20M in VC for Predictive Analytics Platform
Using the platform, data scientists and developers import powerful algorithms into their applications to predict fraud, customer churn, and so on.H2O.ai, which makes a new-gen machine-learning platform for building predictive analytics into applications, has closed a $20 million Series B funding round. Paxion Capital Partners led the round with existing investors Nexus Venture Partners and Transamerica Corporation and new participant Capital One Growth Ventures joining. The company made the announcement Nov. 9 at its H2O World conference at the Computer History Museum in Mountain View, Calif. The Series B brings Mountain View-based H2O.ai's total amount of funding raised to $34 million. H2O.ai provides an open source machine learning platform that makes it easy to build smart applications. Using the platform, data scientists and developers import powerful algorithms into their applications to predict fraud, customer churn, and so on at over 5,000 organizations and its customers include the likes of Cisco, PayPal and Progressive.
H2O.ai said it will use its Series B raise to scale the company's sales, marketing and customer success teams and to support growth in customers and community. Funds also will be used to build an ecosystem of partners on the H2O platform and its delivery via its Steam and Sparkling Water products.