H2O.ai is a start-up that aims to democratize artificial intelligence. This AI solution is focused on adding value to businesses, is completely open source and is used by more than 20,000 companies worldwide. At the end of last week, H2O.ai announced that it had raised $100 million in a round of financing led by one of its clients, Commonwealth Bank of Australia, Australia’s largest bank, with Goldman Sachs and Pivot Investment Partners participating, valuing H2O.ai at $1.7 billion. This fundraising should allow the start-up to increase the number of its employees, develop partnerships and launch new products.
H2O.ai enables its users to quickly solve complex business problems and accelerate innovation. The company has more than 20,000 customers worldwide, is used by millions of data scientists and many large corporations, including AT&T, Citi, Capital One, GlaxoSmithKline, Hitachi, Kaiser Permanente, Procter & Gamble, PayPal, PwC, Reckitt, Unilever and Walgreens.
CBA, Goldman Sachs, NVIDIA and Wells Fargo are not only customers and partners, but strategic investors in the company. H2O.ai received an industry-leading Net Promoter Score (NPS) of 78 based on the breadth of technology and depth of employee expertise. The top 20 Kaggle Grandmasters in the world (the community of top machine learning practitioners and data scientists) are creators of H2O.ai.
The rapid adoption of the H2O AI Cloud has accelerated the company’s growth. Launching in January 2021, the H2O AI Cloud brings together all H2O.ai products on a single, unified platform. Designed to support H2O.ai’s core mission of democratizing AI, the H2O AI Cloud simplifies the creation of accountable AI that users can trust, leverage effectively and innovate with pre-built AI applications. H2O.ai walks companies through every step of their AI journey to make it easier to automate business processes, gain new insights from their data, and delight their customers and employees.
Sri Ambati, founder and CEO of H2O.ai said:
“H2O.ai picks winners from all industries across all continents and turns them into AI superpowers to take on the tech giants with H2O AI Cloud. Our innovative maker culture and customer obsession have earned the trust and love of our customers and they have driven every growth funding cycle at H2O.ai.
Commonwealth Bank and H2O.ai are guided by our core belief that we can make the world a better place by serving our communities and customers with AI. This strategic partnership between the world’s leading AI Cloud movement and Australia’s largest bank will unleash the behemoth of co-innovation and further democratise AI with confidence and freedom. It’s going to be fun.”