AI Startup H2O.ai Raises $72.5 Million in Round Led by Goldman, Ping An

Date : 08/20/2019 @ 6:10PM
Source : Dow Jones News
Stock : NVIDIA Corporation (NVDA)
Quote : 179.98  0.0 (0.00%) @ 12:07PM

AI Startup H2O.ai Raises $72.5 Million in Round Led by Goldman, Ping An

Goldman Sachs (NYSE:GS)
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By Colin Kellaher

 

Artificial-intelligence startup H2O.ai on Tuesday said it raised $72.5 million at an undisclosed valuation in a Series D funding round led by Goldman Sachs Group Inc. (GS) and Ping An Insurance (Group) Co.'s (2318.HK) Ping An Global Voyager Fund.

The Mountain View, Calif., company said prior investors Wells Fargo & Co. (WFC), Nvidia Corp. (NVDA) and Nexus Venture Partners also participated in the round, which brings its total funding to $147 million.

Wells Fargo and Nvidia led a $40 million Series C funding round in late 2017.

H2O.ai, founded in 2012, said Goldman's Jade Mandel will join its board.

H2O.ai's automatic machine learning platform, H2O Driverless AI, is aimed at simplifying artificial intelligence for business users. The company said it will use the new financing to invest in new technologies and expand its sales and marketing efforts.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

August 20, 2019 12:55 ET (16:55 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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