Thursday, November 30, 2017

H2O.ai Adds $40M For AI Software Efforts

Mountain View-based H2O.ai, a developer of artificial intelligence and machine learning tools, revealed today that it has raised $40M in a Series C funding round. The funding was led by Wells Fargo and NVIDIA, and also included New York Life, Crane Venture Partners, Crane Venture Partners, Nexus Venture Partners and Transamerica Ventures. H2O.ai develops the open source, H2O deep learning software, which is being applied to a number of predictive analytics applications, particularly in the financial and insurance industry. The company said its software is being used at such companies at Capital One, Progressive Insurance, Zurich North America, Transamerica, Comcast, Nielsen Catalina Solutions, Neustar, Macy's, Walgreens and Kaiser Permanente.