Machine Learning startup Comet secured $50 Million in Series B funding


Comet, a New York based provider of the development platform for the enterprise machine learning teams, has now secured $50 million in a Series B funding round.

Comet was founded by Gideon Mendels. The AI/ML startup offers a platform that empowers machine learning engineers and data scientists to accelerate ML development by optimizing and managing the entire ML lifecycle, from experiment tracking to model production monitoring.

It is, as of now, used by around 150 customers, which includes Uber, Cepsa, and Zapoos.

Executive Opinion

Kyle Anderson, Director of Software Engineering at Zappos, said, "Zappos utilizes AI to improve our products, customer satisfaction, and internal business processes. Using Comet and other resources, we built an ML model that reduced the likelihood of order returns due to sizing issues by about 10%, which resulted in a lower cost of returns. Comet has aided our success with ML and serves to further ML development within Zappos."

Olcay Cirit, Staff Research Scientist and Tech Lead at Uber AI said, "Uber is unquestionably a data-driven company, and Comet helps our scientists use data to deliver continuous improvements to business-critical deep learning models, leading to better service for our millions of customers across the globe. We always seek out the best solutions for our needs, and Comet offers the complete experiment tracking solution on the market. It’s brought significant value to our business."

Comet's Latest Funding

OpenView led the latest funding round for the AI/ML startup. Other participating investors include Scale Venture Partners, Two Sigma Ventures, and Trilogy Equity Partners.

Post funding, Ofer Bengal, the CEO and Founder of the Redis, and Dr. Oren Etzioni, CEO at the AI2, will join the Comet strategic advisors.

The company, as of now, has plans to use the new funds to continue to expand operations and development efforts, notes the announcement.
PC: Pixabay

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Udit Agarwal is a Digital Marketer and a Content Marketing Specialist, He enjoys technical as well as non-technical writing. His passion and urge for gaining new insights on gadgets, smartphones and technology has led him to Techsutram. He quenches his thirst for technology through his action oriented writing skills and a profound ability to stay up to date with latest industry trends.

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