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dotData announces raising $23 Million from its Series A funding round

Author : Pankaj Singh | Published Date : 2019-11-01 

dotData, a leader in providing full-cycle data science automation and operationalization for enterprises, has recently secured $23 million from its Series A funding round led by JAFCO Co., Ltd. Reportedly, the funding round saw active participation from Goldman Sachs, further joining existing seed investor NEC Corporation. Moreover, with this round, dotData’s total raised funds effectively reached $43 million.

According to reliable sources, dotData plans to utilize this investment to boost its growth by accelerating marketing efforts and expanding sales, as well as by advancing its full-cycle data science automation platform’s product development innovation.

Speaking on the development, Tomotake Kitazawa, Partner, JAFCO, said that dotData provides the broadest and most powerful machine learning automation platform. He said that their firm is impressed with dotData’s zeal to face major challenges of automating the full-cycle data science process from machine learning in production and raw data through feature engineering.

Kitazawa added that automating data science process would further fulfill the rising demand for applications to help businesses optimize value from various initiatives like machine learning and Artificial intelligence.

Moreover, their company feels that dotData is highly capable to lead this prospering AutoML market trend with its advanced innovations and are excited to join dotData as it persists in creating a leading firm in an exciting category.

Recently, dotData made some advancements in the data science automation sector as well when it announced that it was chosen as a qualified partner in a startup program called Microsoft for Startups. For the record, the program was developed to help best startup technology businesses around the globe.

Apparently, the automation company was chosen for its advanced full-cycle data science automation platform which is first of its kind in the rapidly growing market of AutoML. Moreover, sources cite that the company would be able to offer its users the power of data science automation along with the capabilities and benefits of Microsoft’s state-of-the-art Azure cloud platform.
 

Source Credit: https://www.prnewswire.com/news-releases/dotdata-secures-23-million-in-series-a-funding-from-jafco-and-goldman-sachs-300948564.html

About Author

Pankaj Singh

Pankaj Singh

Endowed with a post graduate degree in management and finance, Pankaj Singh has been a part of the online content domain for quite a while. Having worked previously as a U.K. insurance underwriter for two years, he now writes articles for fractovia.org and other online portals. He can be contacted at- [email protected] | https://twitter.com/PankajSingh2605

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