AI Cloud Company H2O.ai Raises $100M in Funding, Valued at $1.7B

H2O.ai, an AI cloud company delivering its artificial intelligence services to more than 20,000 global organizations, millions of data scientists and over half of the Fortune 500, has now raised over $250 million and is valued at $1.7 billion. The funds will be utilized to expand partnerships, sales, marketing, and customer satisfaction around the globe.

The H2O AI Cloud’s quick adoption has propelled the company’s growth. The H2O AI Cloud, which was debuted in January 2021, will bring all of H2O.ai’s products together on a single, unified platform.

Pivot Investment Partners joins prior investors Goldman Sachs Asset Management and Crane Venture Partners. Existing investors include customers and partners such as Wells Fargo, New York Life and NVIDIA. 20,000 organizations, millions of data scientists, and half of the Fortune 500 trust H2O.ai as their AI provider.

“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,” said Sri Ambati, founder and CEO of H2O.ai. “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.”

Financial Services AI Apps Powered by H2O AI Cloud

Photo Sri Ambati, founder and CEO of H2O.ai
“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,” said Sri Ambati, founder and CEO of H2O.ai.

The H2O AI Cloud was created to serve H2O.ai’s fundamental objective of democratizing AI by making it easier to create responsible AI that consumers can trust, run it effectively, and innovate with pre-built AI apps. H2O.ai is with clients every step of the way on their AI journey, making it simpler for businesses to automate business operations, acquire new insights from data, and delight their customers and workers.

“Commonwealth Bank processes and makes decisions based on millions of data points collected every day,” said Matt Comyn, CEO at Commonwealth Bank of Australia. “AI already has helped us to improve our customer experience, however, we know there is untapped potential to do more. The investment in and strategic partnership with H2O.ai extends our leadership in artificial intelligence and ultimately boosts the bank’s ability to offer leading digital propositions and reimagine products and services to customers.”

“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,” added Mr. Ambati. “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.”

Board of Directors

“I’ve worked in this field for 25 years and this is the best platform and product I have had the privilege of using in my career so far,” said Andrew McMullan, PhD, Chief Data and Analytics Officer of CBA. “We’re committed to improving every one of the 35 million decisions that we deliver to our customers every single day – whether via our app, online banking platform, branches, or Australian call centers. In order to do that we had to find the best solution across the globe. Every single experience we build together with H2O.ai has been significantly better than what it replaces.”

Andrew McMullan has joined the board of directors of H2O.ai. H2O.ai and CBA have also formed a strategic relationship to help CBA strengthen its AI skills, co-create financial services AI apps powered by the H2O AI Cloud, and collaborate on community and environmental projects.

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