Media reports indicate that Boston-based predictive analytics company DataRobot has secured $200 million in Series E funding from Sapphire Ventures. DataRobot has not confirmed the news, which was initially reported by Xconomy on July 29. If true, the cash infusion would top the city’s recent funding headlines.
According to its Crunchbase profile, "DataRobot offers a machine learning platform for data scientists of all skill levels to build and deploy accurate predictive models in a fraction of the time it used to take. The technology addresses the critical shortage of data scientists by changing the speed and economics of predictive analytics."
The seven-year-old company has raised seven previous funding rounds, including a $100 million Series D round in 2018.
The round would bring total funding raised by Boston companies in artificial intelligence over the past month to $214 million, an increase of $200 million from the month before. The local artificial intelligence industry has seen 51 funding rounds over the past year, yielding a total of $692 million in venture funding.
In other local funding news, health diagnostics company PathAI announced a corporate round on July 24, financed by LabCorp.
According to Crunchbase, "PathAI’s services solve the most challenging pathology problems faced by the research and pharmaceutical industry. The PathAI platform provides end-to-end automation for reliable, scalable and cost-effective long-term solutions. Their solutions make discovery scalable."
Founded in 2016, the company has raised three previous rounds, including a $60 million Series B round earlier this year.
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