Algorithmia announced Tuesday that it has raised $25 million in new funding to build out tools that make machine learning easier to implement.
Norwest Venture Partners led the Series B round, which brings the total amount of money raised by the Seattle startup to $37.9 million. Rama Sekhar of Norwest will be joining Algorithmia’s board of directors, and existing investors Madrona Venture Group, Gradient Ventures, Work-Bench, Osage University Partners, and Rakuten Capital all participated in the new round, Algorithmia said in a blog post.
Algorithmia, ranked #115 on the GeekWire 200, has shifted gears a bit over the last few years since Anna Patterson of Gradient Ventures, Google’s AI-oriented investment arm, joined the board during its Series A round. Once a marketplace for machine-learning algorithms that companies could find and insert into their applications, Algorithmia is now focused on helping companies implement those algorithms into their software-development process, which is difficult for companies new to machine learning.
CEO Diego Oppenheimer told TechCrunch that data scientists don’t want to deal with the mechanics of actually deploying their models, and it’s unlikely that a given company’s IT operations staff members are data-science experts. Algorithmia’s approach lets those data scientists work with their preferred tools while providing the glue between their models and their company’s production environment.
Algorithmia’s Hernan Alvarez, vice president of product at the growing company, will be giving a tech talk at our upcoming GeekWire Cloud Summit on June 5 in Bellevue. Oppenheimer spoke at the inaugural event two years ago, and a video of that talk follows below: