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

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The new funding would more than double the company's valuation of $2.7 billion from a November fundraiser, highlighting the robust investor appetite for fast-growing enterprise software companies. The COVID-19 pandemic, which has pushed people to work remotely, has accelerated the use of data tools provided by companies such as DataRobot. 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. Datarobot and Tiger Global declined to comment. 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.

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