The main goal, on which H2O.ai is working on, is to free companies from being relied on teams of data scientists. The company recently got money for its betterment. H20.ai announced a series D round that with a whopping $72.5M and it was led by Goldman Sachs and Ping a Global Voyager Fund. Some of the previous major investors like Fargo, Nvidia and Nexus Venture Partners also participated in the event.
Under the agreement that was made for the deal, Jade Mandel from Goldman Sachs will be joining H2O.ai board. This investment took the raise to a level of $147M which is a significant number. Most people don’t know about the fact that Goldman Sachs is not just an investor but it’s also a consumer.
According to a statement by company CEO and co-founder Sri Ambati their two customers, Wells Fargo and Goldman Sachs have led their two rounds for their company the statement was, “Customers have risen up from the ranks for 2 consecutive rounds for us. Last time the Series C, where we were their platform of choice, was led by Wells Fargo. Today’s round was led by Goldman Sachs, which has been a really strong customer for us and strong supporters of our technology.”
H2O’s main product was its driverless auto for AI which was made keeping in mind people who need AI but is not experts in this field due to which they need to hire a team of data scientists, this driverless auto made this work super easy.
The company designed a similar type of products which allowed the users to have full access over their work along with reducing the cost up to a considerable extent.