H2O.ai Raises $100 Million at $1.6 Billion Valuation for Computer Software Industry

H2O.ai is the start-up that assists businesses and enterprises in building and operating artificial intelligence-based services. To make this process easier, H2O.ai provides its clients with open-source framework and apps.

The Series E round was led by Commonwealth Bank of Australia before it was the customer of H2O.ai. Other investors were Goldman Sachs, Pivot Investment Partners, Crane Venture Partners and Celesta Capital. The money raised is going to be used for adding new products, as well as attracting new talents to the team.

H2O.ai, headquartered in Mountain View, California, was founded by Cliff Click and SriSatish Ambati in 2011. As of now, 20 000 clients use H2O.ai services. Among them are retail banking, credit cards, payments, such companies as PayPal, MasterCard, etc. On the other side, MarketAxess, Franklin Templeton, and BNY Mellon dealing with asset management, mortgage also used H2O.ai. “Our open-source platform gives freedom and ability for customers to build their own AI centers of competence and excellence,” says SriSatish Ambati.

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