Total amount raised
$251.1 Millions
Latest funding date
5/1/2023
Location
H2O.ai has successfully raised significant funding across multiple rounds, attracting a diverse group of investors. The company specializes in machine learning platforms designed to build smart applications.
Continue reading to delve into the details of H2O.ai's funding journey and the key investors supporting this innovative platform.
What Is H2O.ai?
H2O.ai, founded in 2012 by Cliff Click and Sri Satish Ambati, is based in Mountain View, California. The company specializes in AI solutions, offering platforms for both Generative and Predictive AI. Their mission is to democratize AI, making it accessible to everyone.
H2O.ai serves over 20,000 global organizations, including many Fortune 500 companies. They provide a range of products such as H2O Driverless AI, H2O-3, and H2O Wave, which help in building, deploying, and managing machine learning models.
With a workforce of 251-500 employees, H2O.ai emphasizes data ownership and offers end-to-end AI platforms that can be deployed on-premise, air-gapped, or in the cloud. Their strong AI for Good ethos aims to make the world a better place.
How Much Funding Has H2O.ai Raised?
- Seed Round
- Amount Raised: $1.7M
- Date: January 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to develop the core AI platform.
- Seed Round
- Amount Raised: $3M
- Date: May 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and refine the AI platform.
- Series A
- Amount Raised: $8.9M
- Date: July 2014
- Lead Investors: Ash Bhardwaj, Rakesh Mathur
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and expand the team.
- Series B
- Amount Raised: $5M
- Date: October 2015
- Lead Investors: Celesta Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and market reach.
- Series B
- Amount Raised: $20M
- Date: November 2015
- Lead Investors: Paxion Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance AI capabilities and expand customer base.
- Series C
- Amount Raised: $40M
- Date: November 2017
- Lead Investors: Wells Fargo
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Series D
- Amount Raised: $72.5M
- Date: August 2019
- Lead Investors: Goldman Sachs, Ping An Global Voyager
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and global reach.
- Series E
- Amount Raised: $100M
- Date: November 2021
- Lead Investors: Commonwealth Bank of Australia
- Valuation at Round: $1.7 billion
- Motivation Behind the Round: To accelerate growth, develop more products, and expand the AI Cloud platform.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: May 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
H2O.ai has raised a total of $251.1M with a current valuation of $1.7 billion.
Key Investors
- Commonwealth Bank of Australia
- Details: Commonwealth Bank of Australia is the largest bank in Australia, offering a wide range of financial services including retail, business, and institutional banking. They led the Series E funding round for H2O.ai.
- Investment Focus Areas: Financial services, technology, AI.
- Notable Investments: H2O.ai, various fintech startups.
- Goldman Sachs
- Details: Goldman Sachs is a leading global investment banking, securities, and investment management firm. They have been a recurring investor in H2O.ai.
- Investment Focus Areas: Technology, financial services, healthcare.
- Notable Investments: H2O.ai, Uber, Spotify.
- Ping An Global Voyager
- Details: Ping An Global Voyager is the investment arm of Ping An Insurance, focusing on fintech and healthtech investments. They participated in the Series D funding round for H2O.ai.
- Investment Focus Areas: Fintech, healthtech, AI.
- Notable Investments: H2O.ai, Lufax, OneConnect.
- Wells Fargo
- Details: Wells Fargo is a multinational financial services company headquartered in San Francisco. They have been an investor and customer of H2O.ai.
- Investment Focus Areas: Financial services, technology, fintech.
- Notable Investments: H2O.ai, Plaid, Blend.
- Celesta Capital
- Details: Celesta Capital is a venture capital firm investing in technology and innovation. They participated in the Series B and Series E funding rounds for H2O.ai.
- Investment Focus Areas: Technology, AI, machine learning.
- Notable Investments: H2O.ai, Graphcore, SambaNova Systems.
What's Next for H2O.ai?
H2O.ai stands at the cusp of significant opportunities, driven by its recent $100 million Series E funding. The company is poised to expand its AI Cloud services, leveraging partnerships with major investors like Wells Fargo and NVIDIA. The Commonwealth Bank of Australia's involvement opens doors to the Australian market, enhancing H2O.ai's global footprint.
Future fundraising looks promising, with potential for additional rounds given the strong interest from high-profile investors. Strategic partnerships across various industries could further bolster their financial backing. However, challenges such as competition from other AI providers and the need for continuous innovation remain. Ensuring data security and compliance will also be critical as they scale.
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