January 8, 2015
This morning, the Seattle, WA-based machine-learning startup GraphLab announced that it has closed $18.5 million in Series B funding in a round led by Vulcan Capital. Along with this additional financing, the company has announced a rebrand, formally changing its name to “Dato“.
Other participants in this round include Opus Capital, as well as current investors New Enterprise Associates (NEA) and Madrona Venture Group. With this new financing, Dato has now raised a total of $25.3 million from investors.
“Our company was founded on a mission to create a more intelligent world,” said Dato CEO Carlos Guestrin in a statement. “The investments made in Dato will help us empower many more data scientists, software developers and engineers to revolutionize industries and enhance our lives in ways we can’t imagine. We are delivering a complete environment that makes data science and its benefits accessible to every business.”
Founded in 2013, GraphLab was initally set on commercializing its open source graph-computing technology, but a growing trend in consumer demand for predictive technology utilizing data became more important. The rebrand to “Dato” reflects the company’s shift in priorities. Through Dato, customers can be provided with a machine-learning platform that lets them create intelligent applications using any type of data they want. With the recent release of Dato’s first commercial product, GraphLab Create, the platform that will enable easy integration of machine-learning capabilities, the company has positioned itself for further scaling.
The new financing will be used towards the company’s efforts in expanding its business development, engineering, and customer support teams. In addition, Steve Hall from Vulcan Capital will join Dato’s board of directors.
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