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
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.”