Artificial intelligence startup DataRobot seeks to raise US$500 million - sources

REUTERS: DataRobot is in advanced discussions to raise fresh capital of about US$500 million in a funding round that could value the machine learning startup at more than US$7 billion, according to people familiar with the matter.

Tiger Global, an existing investor in DataRobot, will participate in the round, which is expected to be the last private fundraiser before a stock market flotation of the company, the sources added.Founded in 2012, DataRobot offers a subscription-based machine learning platform to help companies use big data to perform predictive analytics, a process that otherwise would require manual effort.It counts the likes of United Airlines and Deloitte among its customers.

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