Automated machine learning company DataRobot raises $54m ZDNet

DataRobot has raised $54 million in the first close of a Series C round led by New Enterprise Associates. The latest round brings the total amount raised by the Boston, Massachusetts-based company to $111 million, with "significant" additional funding expected in the second close of the round. Data scientists Jeremy Achin and Thomas DeGodoy founded DataRobot in 2012 on the belief that automated machine learning will not only increase productivity for data scientists, but will also open up the world of data science to non-data scientists. The DataRobot platform features hundreds of open-source machine learning algorithms, allowing users to quickly build predictive models. Chris Devaney, COO at DataRobot, told ZDNet that a data scientist would typically look at a set of data, prepare that data, and then train a predictive model -- a process that can take weeks or even months.