AI, Machine Learning Startup H20.ai Raises $75.5 Million

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H20.ai, which provides open source solutions for artificial intelligence and machine learning for enterprise institutions, raised new funding.

The Mountain View, CA based startup announced it secured $72.5 million in Series D funding, led by Goldman Sachs and Ping An Global Voyager Fund. Wells Fargo, NVIDIA and Nexus Venture Partners also contributed to this round. H20.ai has raised $147 million to date.

Goldman Sach’s Jade Mandel will be joining H20.ai’s Board of Directors as part of the funding deal.

The company has rapidly expanded in the last year, opening operations around the world and scoring such high profile clients as Aetna, Capital One, Comcast, Franklin Templeton, PwC, Wells Fargo and Walgreens.

“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, CEO and Founder at H2O.ai, in a statement. “Our customers are unlocking discovery in every sphere and walk of life and challenging the dominance of technology giants. This will be fun.”

“We’re thrilled to partner with the H2O.ai team on their mission to democratize artificial intelligence,” adds Jade Mandel, Vice President, Principal Strategic Investments Group at Goldman Sachs and now H20.ai board member. “Their deep technical bench and customer centricity make them well positioned to bring transparency and efficiency to the world of prediction.”

H2O.ai, founded in 2012,  plans to accelerate innovation, expand sales and grow its marketing strategy. The company will continue to innovate to support AI4Good with a focus on wildlife and water conservation, and investments in its highly successful academic program that makes the H2O.ai portfolio freely available to students, researchers and universities.