Seldon
LONDON, March 16, 2023 (Reuters) /PRNewswire/
The strategic funding is aimed at expanding the market adoption of Seldon’s machine learning products and developing open source, enterprise-ready solutions
Seldon, a data-centric machine learning operations (MLOps) platform for deploying, managing, monitoring and explaining machine learning (ML) models, today announced a $20 million Series B funding round. The round was made by the new investor Bright Pixel (formerly Sonae IM), with significant participation from existing investors AlbionVC, Cambridge Innovation Capital and Amadeus Capital Partners.
Companies are investing heavily in AI, but many are struggling to scale their models into production due to bottlenecks in teams’ workflows. Also, increasing regulation and compliance, lack of confidence in model results, and ensuring maximum model performance are of paramount concern for AI-powered businesses. Seldon helps data scientists, ML engineers, and other business stakeholders accelerate machine learning adoption and solve these challenges with unprecedented efficiency.
“Seldon is uniquely positioned to ensure return on ML investments by providing a robust, scalable and secure infrastructure, developing a data-centric approach to ML pipelines, prioritizing team collaboration across the enterprise and ensuring that teams are able to solve meaningful problems at scale by building trust in machine learning, even under the most stringent regulatory conditions.” says Alex Housley, founder and CEO of Seldon. “We are excited to bring together new investor Bright Pixel Capital and our existing partners who believe in our vision and can help us become the trusted MLOps partner of any company worldwide.”
As a leader in MLOps, the funding will be used to continue developing a data-centric approach to AI across Seldon’s product range. Seldon has achieved a remarkable year-on-year growth rate of 400% in its open source frameworks installed and running since the A-Series in November 2020. Seldon’s cutting-edge research, conducted in collaboration with teams from the University of Cambridge, has been key to innovative product development and remains a key focus of the company following the capital increase. Seldon also invests in customer success and strengthens the global support function.
“Seldon stood out by presenting a unique solution that reduces the friction for users in deploying and explaining ML models in any industry. For customers, this means increased productivity, faster time-to-value, and governance, risk, and compliance capabilities. Seldon’s potential is invaluable,” sagt Pedro Carreira, Director of Bright Pixel. “We are proud to join the team at Seldon, as well as other investors, and to help the company enter its next phase as a company.”
Seldon supports the entire production lifecycle in some of the largest companies worldwide. Current customers include PayPal, Johnson & Johnson, Audi and Experian, among others.
Information about Seldon
Seldon bridges the gap between data science and DevOps teams to bring models to market faster with higher accuracy and minimized risk. Seldon transforms the process of deploying, monitoring, explaining, and managing machine learning models at scale. Founded in 2014, Seldon has brought millions of unique ML models into production for hundreds of companies around the world. Users report productivity gains of up to 92%, saving them tens of millions on their machine learning projects.
About Bright Pixel
Bright Pixel, formerly known as Sonae IM, is a technology investment fund owned by multinational group Sonae, with a particular focus on cybersecurity, digital infrastructure and retail technologies. The firm has a portfolio of more than 50 companies from early stage to growth stage. Bright Pixel has specific expertise, a global footprint and a wealth of experience in helping companies from early stage to initial public offering (IPO). Learn more at brpx.com.
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Press contact:
Graeme Hutchison,
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Original content by: Seldon, transmitted by news aktuell
