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Home > Cloud Computing > H20.ai announced $100 million funding

H20.ai announced $100 million funding

H20.ai announced that the company has raised $100 million in the Series E funding round led by the Commonwealth Bank of Australia.

Erdem Yasar by Erdem Yasar
November 9, 2021
in Cloud Computing
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AI cloud company, H20.ai announced that it has closed a $100 million Series E funding round. The round was led by Australia’s largest bank, customer Commonwealth Bank of Australia. With the funding round, the company has now raised more than $250 million and is currently valued at $1.7 billion.

Valued at $1.7 billion

Sri Ambati, founder and CEO of H2O
Sri Ambati, founder and CEO of H2O

In the latest funding round, Pivot Investment Partners joined prior investors Goldman Sachs Asset Management and Crane Venture Partners. H20.ai’s existing investors include Wells Fargo, New York Life, and NVIDIA. The company, which has a Net Promoter Score of 78, stated that the funding will be used to scale partnerships, sales, marketing, and customer success.

H2O AI Cloud, which was launched in January of 2021, brings the company’s all products together to offer a single, unified platform. The solution aims to simplify making responsible AI, operating it efficiently, and innovating with pre-built AI applications. H2O AI Cloud has accelerated the company’s growth and helps users to automate business processes, gain new insights from their data. Sri Ambati, founder and CEO of H2O.ai said,

“H2O.ai is picking winners in every vertical on every continent and making them AI superpowers to take on the tech giants with the H2O AI Cloud. Our innovative maker culture and customer obsession have won the trust and love of our customers and they have led every growth funding round at H2O.ai. Commonwealth Bank and H2O.ai are led by our core belief that we can make the world better by serving our communities and customers with AI. This strategic partnership between the leading global AI Cloud movement and Australia’s largest bank will unleash the juggernaut of co-innovation and will further democratize AI with trust and freedom. This will be fun.”

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Erdem Yasar

Erdem Yasar

Erdem Yasar is a news editor at Cloud7 News. Erdem started his career by writing video game reviews in 2007 for PC World magazine while he was studying computer engineering. In the following years, he focused on software development with various programming languages. After his graduation, he continued to work as an editor for several major tech-related websites and magazines. During the 2010s, Erdem Yasar shifted his focus to cloud computing, hosting, and data centers as they were becoming more popular topics in the tech industry. Erdem Yasar also worked with various industry-leading tech companies as a content creator by writing blog posts and other articles. Prior to his role at Cloud7 News, Erdem was the managing editor of T3 Magazine.

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