Machine Learning Observability startup Arize AI secured $38 Million in Series B funding

 

Arize AI, a California-based machine learning observability company, has now secured $38 million in a Series B funding round.

Arize AI is founded in the year 2020. It offers a machine learning observability platform to track lots of predictions per month. Arize AI enables ML engineering teams to streamline troubleshooting efforts with purpose-built workflows and analytics for model performance management, drift detection, data quality checks, and model validation. It also enables users to log models with both structured and unstructured data to the platform for monitoring.

The solution is used by enterprises and technology companies which include eBay, Neustar, Chime, Stitch Fix, New York Life, Spotify, Uber, and more.

Kai Wang, Product Lead, Uber AI Platform, said, "Michaelangelo is Uber's end-to-end ML platform that powers 100% business-critical ML use cases at Uber to deliver a consistent user experience across billions of rides and deliveries. Given the vital role ML plays in this process, it's critical to have tools that build on Michalangelo's core capabilities and help us stay ahead of potential production ML problems. We're excited to work with Arize AI to enhance platform ML observability capabilities and make it easier to detect and resolve model performance issues."

Morgan Gerlak, Partner at TCV, said, "Arize's platform finally makes it easy for ML engineers to scalably detect data and drift issues, troubleshoot what happened, and improve overall model performance. Like other areas of observability, the end user really matters — and we were impressed by Arize's ability to build a practical solution that ML engineers love."

The round was backed by the TCV with participation from existing investors Foundation Capital, Battery Ventures, and Swift Ventures.

The AI startup, as of now, has plans to use the new funds to expand operations, business outreach, and development efforts, notes the announcement.