April 29: From BI to AI (Akamai, Arize AI, Baseten, Credo AI, Enveil, Exafunction, expert.ai, HPE, Informatica, Linode, RelationalAI, Salesforce, Snowflake, Synthesis AI, Tableau)
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Baseten, a platform that turns machine learning models into web applications, announced on April 26 that they had raised $20M in combined seed and Series A funding. The seed round of $8M was co-led by Greylock and South Park Commons Fund, while the A round was led by Greylock. Baseten also formally launched their product into public beta. Amalgam Insights’ Hyoun Park was quoted in Baseten’s press release announcing the funding and launch.
Enveil, a data privacy company, announced that it had closed $25M in Series B financing this week. USAA led the oversubscribed round, with participation from existing investors Bloomberg Beta, Capital One Ventures, C5 Capital, Cyber Mentor Fund, DataTribe, GC&H, In-Q-Tel, Mastercard, and 1843 Capital. Enveil plans to put the funds towards product development, expanding sales, and marketing.
Exafunction, a deep learning infrastructure company, announced $25M in Series A financing. Greenoaks led the round, with Founders Fund participating. The funding will go towards R+D, customer training, and performance improvements, in particular around GPU virtualization.
On April 26, RelationalAI, a knowledge graph system builder, announced that they had closed $75M in a Series B funding round. Tiger Global led the round, with participation from existing investors Addition, Madrona Venture Group, and Menlo Ventures. The funding will go towards R+D and go-to-market activities. As part of the transaction, Bob Muglia, former CEO of Snowflake, has joined the RelationalAI board.
On April 28, Synthesis AI, a synthetic data platform, announced that they had closed $17M in Series A financing. New investor 468 Capital led the round, with participation from additional new investors Sorenson Ventures and Strawberry Creek Ventures and existing investors Bee Partners, iRobot Boom Capital, Kubera Venture Capital, and PJC. Synthesis AI will use the funds for hiring, product development, and R+D at the intersection of AI and computer-generated imagery (CGI).
Launches and Updates
On April 25, Akamai launched a managed database service powered by Linode, which Akamai acquired back in March. The service handles common maintenance and deployment tasks associated with database management, allowing for better performance and uptime. The launch reflects Akamai’s expansion into database management services to go along with its existing networking capabilities.
Arize AI, a machine learning observability platform, launched Arize Bias Tracing this week. The tool helps data science and machine learning teams monitor models for bias, discover what features and cohorts contribute to bias in a given model, and mitigate the impact of bias on said model.
Credo AI, a governance solution for AI, launched its Responsible AI platform this week. Key features in Responsible AI include a pipeline that ingests assessments from Credo AI Lens and translates them into risk scores across common AI risk areas; a repository for critical governance artifacts; the ability to assess AI risk and compliance of third-party AI and ML models via a dedicated portal.
Expert.ai, a natural language hybrid AI platform, announced the latest version of its platform on April 26. Notable features include a set of “Knowledge Models,”, which are pre-configured rules-based models that can extract entities, insights, and relationships from text within specific domains. Included domains with this release are finance, life sciences, environmental, social, and governance (ESG), personally identifiable information (PII), and behavioral and emotional traits. In addition, Azure has been added as a deployment environment, Boomi and Qlik can now be used to connect to third-party applications, and custom Python and Java can be used in the natural language workflow orchestrations.
On April 27, Hewlett Packard Enterprise debuted their HPE Machine Learning Development System. The System consists of HPE’s machine learning platform, HPE Machine Learning Development Environment, along with hardware and software to optimize development, training, and deployment of machine learning models.
At Salesforce TrailblazerDX ’22, Tableau announced additional capabilities around embedding analytics. These include Web Data Connector 3.0, which allows data developers to build connectors from their data to a web application; v3 of Tableau’s Embedding API, so Tableau analytics can be integrated into any application using web components; Embeddable Web Authoring, the ability to edit Tableau visualizations within any application or web portal; Connected Apps for Seamless Authentication, which permits Tableau to be integrated into developers’ applications with proper authentication; and Tableau Actions with Salesforce Flow, the ability to trigger workflows in Flow directly from a Tableau dashboard.
Informatica and Snowflake continue to grow their partnership. This week, Informatica announced an integration between Snowflake Data Cloud’s native governance features and Informatica’s Cloud Data Governance and Catalog. The integration will provide a dashboard allowing for easy monitoring of data governance, access controls, and end-to-end lineage.