machine learning

Auto Added by WPeMatico

Opaque raises $9.5M seed to secure sensitive data in the cloud

Opaque, a new startup born out of Berkeley’s RISELab, announced a $9.5 million seed round today to build a solution to access and work with sensitive data in the cloud in a secure way, even with multiple organizations involved. Intel Capital led today’s investment with participation by Race Capital, The House Fund and FactoryHQ.

The company helps customers work with secure data in the cloud while making sure the data they are working on is not being exposed to cloud providers, other research participants or anyone else, says company president Raluca Ada Popa.

“What we do is we use this very exciting hardware mechanism called Enclave, which [operates] deep down in the processor — it’s a physical black box — and only gets decrypted there. […] So even if somebody has administrative privileges in the cloud, they can only see encrypted data,” she explained.

Company co-founder Ion Stoica, who was a co-founder at Databricks, says the startup’s solution helps resolve two conflicting trends. On one hand, businesses increasingly want to make use of data, but at the same time are seeing a growing trend toward privacy. Opaque is designed to resolve this by giving customers access to their data in a safe and fully encrypted way.

The company describes the solution as “a novel combination of two key technologies layered on top of state-of-the-art cloud security—secure hardware enclaves and cryptographic fortification.” This enables customers to work with data — for example to build machine learning models — without exposing the data to others, yet while generating meaningful results.

Popa says this could be helpful for hospitals working together on cancer research, who want to find better treatment options without exposing a given hospital’s patient data to other hospitals, or banks looking for money laundering without exposing customer data to other banks, as a couple of examples.

Investors were likely attracted to the pedigree of Popa, a computer security and applied crypto professor at UC Berkeley and Stoica, who is also a Berkeley professor and co-founded Databricks. Both helped found RISELabs at Berkeley where they developed the solution and spun it out as a company.

Mark Rostick, vice president and senior managing director at lead investor Intel Capital says his firm has been working with the founders since the startup’s earliest days, recognizing the potential of this solution to help companies find complex solutions even when there are multiple organizations involved sharing sensitive data.

“Enterprises struggle to find value in data across silos due to confidentiality and other concerns. Confidential computing unlocks the full potential of data by allowing organizations to extract insights from sensitive data while also seamlessly moving data to the cloud without compromising security or privacy,” Rostick said in a statement

He added, “Opaque bridges the gap between data security and cloud scale and economics, thus enabling inter-organizational and intra-organizational collaboration.”

 

Powered by WPeMatico

Zoom to acquire German startup to bring real-time translation to meetings

As companies expand worldwide and meet online in tools like Zoom, the language barrier can be a real impediment to getting work done. Zoom announced that it intends to acquire German startup Karlsruhe Information Technology Solutions or Kites for short, to bring real-time machine-learning-based translation to the platform.

The companies did not share the terms of the deal, but with Kites, the company gets a team of top researchers, who can help enhance the machine-learning translation knowledge at the company. “Kites’ talented team of 12 research scientists will help Zoom’s engineering team advance the field of [machine translation] to improve meeting productivity and efficiency by providing multilanguage translation capabilities for Zoom users,” the company said in a statement.

The deal appears to be an acqui-hire as the company adds those 12 researchers to the Zoom engineering group. It intends to leave the team in place in Germany with plans to build a machine-learning translation R&D center with additional hires over time as the company puts more resources into this area.

While the Kites website reveals little about it other than an address, the company’s About page on LinkedIn indicates that the startup was founded in 2015 by two researchers who taught at Carnegie Mellon and Karlsruhe Institute of Technology with the goal of building machine-learning translation tooling.

“The Kites mission is to break down language barriers and make seamless cross-language interaction a reality of everyday life,” the LinkedIn overview stated. It claims to be among a handful of companies, including Google and Microsoft, to have developed “leading speech recognition and translation technologies,” which would suggest that Zoom has acquired some key technologies.

It does not appear the company had a commercial product, but the site does indicate that there is a machine-learning translation platform that is in use in academia and government. Regardless, the fruits of the company’s research will now belong to Zoom.

Powered by WPeMatico

Orum raises $56M to help speed up interbank transfers

Orum, which aims to speed up the amount of time it takes to transfer money between banks, announced today it has raised $56 million in a Series B round of funding.

Accel and Canapi Ventures co-led the round, which also included participation from existing backers Bain Capital Ventures, Inspired Capital, Homebrew, Acrew, Primary, Clocktower and Box Group. The financing comes barely three months after Orum announced a $21 million Series A, and brings its total raised to over $82 million.

Orum CEO Stephany Kirkpatrick launched the company in 2019 after working for several years at LearnVest, a personal finance site founded by Alexa von Tobel that was acquired by Northwestern Mutual in 2015 for an estimated $375 million. Tobel went on to form Inspired Capital, a venture capital firm that put money in Orum’s $5.2 million seed round last August. Prior to that, the firm also provided Orum with an “inspiration check” that was the first money into the business.

“Most Americans are not familiar with the intricacies of ACH [automated clearing house) or why it takes multiple business days to move money between accounts,” Kirkpatrick said. “But none of us can allow money to wait 5-7 days to hit our accounts. It needs to be instant.”

Her mission with Orum is straightforward even if the technology behind it is complex. Put simply, Orum aims to use machine learning-backed APIs to “move money smartly across all payment rails, and in doing so, provide universal financial access.”

Orum’s first embeddable product, Foresight, launched in September of 2020. It’s an automated programming interface designed to give financial institutions a way to move money in real time. The platform uses machine learning and data science to predict when funds are available and to identify any potential risks. Its Momentum product “intelligently” routes funds across payments rails and is powered by banking providers JPMorgan Chase and Silicon Valley Bank.

“They power the back end of our Momentum platform that allows the money to move on a multirail basis,” Kirkpatrick told TechCrunch. “They power our access to real-time payments.”

Orum says it serves a range of enterprise partners, including Alloy, HM Bradley, First Horizon Bank and Zero Financial (which was recently acquired by Avant).

The volume of transactions being conducted with Orum is growing 100% month over month, Kirkpatrick said. Most of its early growth has come from word of mouth. 

The remote-first company prides itself on diversity — in both its employee and investor base. For one, 48% of its 55-person headcount are female, and 48% are “nonwhite,” according to Kirkpatrick. Orum also recently joined the Cap Table Coalition — a partnership between high-growth startups and emerging investors who want to work to close the racial wealth gap — to allocate over 10% of its Series B round to underrepresented founders. For example, the financing includes investors such as the Neythri Features Fund, a group of South Asian women investing in the next generation of female founders and diverse teams.

Jeffrey Reitman, partner at Canapi Ventures (a firm whose LPs mostly consist of banks), told TechCrunch that those bank LPs conduct hundreds of millions of ACH transactions annually, 

“They need a path to achieving a state where funds can be transferred instantly,” he said. “Orum’s product paves the path for many players in financial services and fintech — and beyond — to partake in faster money movement without compromising key risk principles.”

To Reitman, the company’s major differentiators are its team, which he describes as consisting of “the best group of data scientists and engineers in the space.”

“Many of their customers consider the team to be instrumental in helping to set the risk dials on how they fund transactions by teasing out key data and insights from historical transaction data,” he said. “Second, Orum is building one of the densest and most comprehensive data sets around the risks of money movement. Better data means better risk models, and it will be hard for other offerings to match Orum’s approach to building this rich data set.”

Accel Partner Sameer Gandhi, who joined Orum’s board as part of the latest financing, agrees. He believes that in an 18-month period, Orum has built “game-changing technology and an exceptional team.”

“Orum is tackling financial infrastructure from its foundation,” he said.

The headline was updated post-publication to reflect the correct funding amount.

Powered by WPeMatico

Edge Delta raises $15M Series A to take on Splunk

Seattle-based Edge Delta, a startup that is building a modern distributed monitoring stack that is competing directly with industry heavyweights like Splunk, New Relic and Datadog, today announced that it has raised a $15 million Series A funding round led by Menlo Ventures and Tim Tully, the former CTO of Splunk. Previous investors MaC Venture Capital and Amity Ventures also participated in this round, which brings the company’s total funding to date to $18 million.

“Our thesis is that there’s no way that enterprises today can continue to analyze all their data in real time,” said Edge Delta co-founder and CEO Ozan Unlu, who has worked in the observability space for about 15 years already (including at Microsoft and Sumo Logic). “The way that it was traditionally done with these primitive, centralized models — there’s just too much data. It worked 10 years ago, but gigabytes turned into terabytes and now terabytes are turning into petabytes. That whole model is breaking down.”

Image Credits: Edge Delta

He acknowledges that traditional big data warehousing works quite well for business intelligence and analytics use cases. But that’s not real-time and also involves moving a lot of data from where it’s generated to a centralized warehouse. The promise of Edge Delta is that it can offer all of the capabilities of this centralized model by allowing enterprises to start to analyze their logs, metrics, traces and other telemetry right at the source. This, in turn, also allows them to get visibility into all of the data that’s generated there, instead of many of today’s systems, which only provide insights into a small slice of this information.

While competing services tend to have agents that run on a customer’s machine, but typically only compress the data, encrypt it and then send it on to its final destination, Edge Delta’s agent starts analyzing the data right at the local level. With that, if you want to, for example, graph error rates from your Kubernetes cluster, you wouldn’t have to gather all of this data and send it off to your data warehouse where it has to be indexed before it can be analyzed and graphed.

With Edge Delta, you could instead have every single node draw its own graph, which Edge Delta can then combine later on. With this, Edge Delta argues, its agent is able to offer significant performance benefits, often by orders of magnitude. This also allows businesses to run their machine learning models at the edge, as well.

Image Credits: Edge Delta

“What I saw before I was leaving Splunk was that people were sort of being choosy about where they put workloads for a variety of reasons, including cost control,” said Menlo Ventures’ Tim Tully, who joined the firm only a couple of months ago. “So this idea that you can move some of the compute down to the edge and lower latency and do machine learning at the edge in a distributed way was incredibly fascinating to me.”

Edge Delta is able to offer a significantly cheaper service, in large part because it doesn’t have to run a lot of compute and manage huge storage pools itself since a lot of that is handled at the edge. And while the customers obviously still incur some overhead to provision this compute power, it’s still significantly less than what they would be paying for a comparable service. The company argues that it typically sees about a 90 percent improvement in total cost of ownership compared to traditional centralized services.

Image Credits: Edge Delta

Edge Delta charges based on volume and it is not shy to compare its prices with Splunk’s and does so right on its pricing calculator. Indeed, in talking to Tully and Unlu, Splunk was clearly on everybody’s mind.

“There’s kind of this concept of unbundling of Splunk,” Unlu said. “You have Snowflake and the data warehouse solutions coming in from one side, and they’re saying, ‘hey, if you don’t care about real time, go use us.’ And then we’re the other half of the equation, which is: actually there’s a lot of real-time operational use cases and this model is actually better for those massive stream processing datasets that you required to analyze in real time.”

But despite this competition, Edge Delta can still integrate with Splunk and similar services. Users can still take their data, ingest it through Edge Delta and then pass it on to the likes of Sumo Logic, Splunk, AWS’s S3 and other solutions.

Image Credits: Edge Delta

“If you follow the trajectory of Splunk, we had this whole idea of building this business around IoT and Splunk at the Edge — and we never really quite got there,” Tully said. “I think what we’re winding up seeing collectively is the edge actually means something a little bit different. […] The advances in distributed computing and sophistication of hardware at the edge allows these types of problems to be solved at a lower cost and lower latency.”

The Edge Delta team plans to use the new funding to expand its team and support all of the new customers that have shown interest in the product. For that, it is building out its go-to-market and marketing teams, as well as its customer success and support teams.

 

Powered by WPeMatico

Vantage raises $4M to help businesses understand their AWS costs

Vantage, a service that helps businesses analyze and reduce their AWS costs, today announced that it has raised a $4 million seed round led by Andreessen Horowitz. A number of angel investors, including Brianne Kimmel, Julia Lipton, Stephanie Friedman, Calvin French Owen, Ben and Moisey Uretsky, Mitch Wainer and Justin Gage, also participated in this round.

Vantage started out with a focus on making the AWS console a bit easier to use — and helping businesses figure out what they are spending their cloud infrastructure budgets on in the process. But as Vantage co-founder and CEO Ben Schaechter told me, it was the cost transparency features that really caught on with users.

“We were advertising ourselves as being an alternative AWS console with a focus on developer experience and cost transparency,” he said. “What was interesting is — even in the early days of early access before the formal GA launch in January — I would say more than 95% of the feedback that we were getting from customers was entirely around the cost features that we had in Vantage.”

Image Credits: Vantage

Like any good startup, the Vantage team looked at this and decided to double down on these features and highlight them in its marketing, though it kept the existing AWS Console-related tools as well. The reason the other tools didn’t quite take off, Schaechter believes, is because more and more, AWS users have become accustomed to infrastructure-as-code to do their own automatic provisioning. And with that, they spend a lot less time in the AWS Console anyway.

“But one consistent thing — across the board — was that people were having a really, really hard time 12 times a year, where they would get a shocking AWS bill and had to figure out what happened. What Vantage is doing today is providing a lot of value on the transparency front there,” he said.

Over the course of the last few months, the team added a number of new features to its cost transparency tools, including machine learning-driven predictions (both on the overall account level and service level) and the ability to share reports across teams.

Image Credits: Vantage

While Vantage expects to add support for other clouds in the future, likely starting with Azure and then GCP, that’s actually not what the team is focused on right now. Instead, Schaechter noted, the team plans to add support for bringing in data from third-party cloud services instead.

“The number one line item for companies tends to be AWS, GCP, Azure,” he said. “But then, after that, it’s Datadog, Cloudflare, Sumo Logic, things along those lines. Right now, there’s no way to see, P&L or an ROI from a cloud usage-based perspective. Vantage can be the tool where that’s showing you essentially, all of your cloud costs in one space.”

That is likely the vision the investors bought into, as well, and even though Vantage is now going up against enterprise tools like Apptio’s Cloudability and VMware’s CloudHealth, Schaechter doesn’t seem to be all that worried about the competition. He argues that these are tools that were born in a time when AWS had only a handful of services and only a few ways of interacting with those. He believes that Vantage, as a modern self-service platform, will have quite a few advantages over these older services.

“You can get up and running in a few clicks. You don’t have to talk to a sales team. We’re helping a large number of startups at this stage all the way up to the enterprise, whereas Cloudability and CloudHealth are, in my mind, kind of antiquated enterprise offerings. No startup is choosing to use those at this point, as far as I know,” he said.

The team, which until now mostly consisted of Schaechter and his co-founder and CTO Brooke McKim, bootstrapped the company up to this point. Now they plan to use the new capital to build out its team (and the company is actively hiring right now), both on the development and go-to-market side.

The company offers a free starter plan for businesses that track up to $2,500 in monthly AWS cost, with paid plans starting at $30 per month for those who need to track larger accounts.

Powered by WPeMatico

Enterprise AI platform Dataiku launches managed service for smaller companies

Dataiku is going downstream with a new product today called Dataiku Online. As the name suggests, Dataiku Online is a fully managed version of Dataiku. It lets you take advantage of the data science platform without going through a complicated setup process that involves a system administrator and your own infrastructure.

If you’re not familiar with Dataiku, the platform lets you turn raw data into advanced analytics, run some data visualization tasks, create data-backed dashboards and train machine learning models. In particular, Dataiku can be used by data scientists, but also business analysts and less technical people.

The company has been mostly focused on big enterprise clients. Right now, Dataiku has more than 400 customers, such as Unilever, Schlumberger, GE, BNP Paribas, Cisco, Merck and NXP Semiconductors.

There are two ways to use Dataiku. You can install the software solution on your own, on-premise servers. You can also run it on a cloud instance. With Dataiku Online, the startup offers a third option and takes care of setup and infrastructure for you.

“Customers using Dataiku Online get all the same features that our on-premises and cloud instances provide, so everything from data preparation and visualization to advanced data analytics and machine learning capabilities,” co-founder and CEO Florian Douetteau said. “We’re really focused on getting startups and SMBs on the platform — there’s a perception that small or early-stage companies don’t have the resources or technical expertise to get value from AI projects, but that’s simply not true. Even small teams that lack data scientists or specialty ML engineers can use our platform to do a lot of the technical heavy lifting, so they can focus on actually operationalizing AI in their business.”

Customers using Dataiku Online can take advantage of Dataiku’s pre-built connectors. For instance, you can connect your Dataiku instance with a cloud data warehouse, such as Snowflake Data Cloud, Amazon Redshift and Google BigQuery. You can also connect to a SQL database (MySQL, PostgreSQL…), or you can just run it on CSV files stored on Amazon S3.

And if you’re just getting started and you have to work on data ingestion, Dataiku works well with popular data ingestion services. “A typical stack for our Dataiku Online Customers involves leveraging data ingestion tools like FiveTran, Stitch or Alooma, that sync to a cloud data warehouse like Google BigQuery, Amazon Redshift or Snowflake. Dataiku fits nicely within their modern data stacks,” Douetteau said.

Dataiku Online is a nice offering to get started with Dataiku. High-growth startups might start with Dataiku Online as they tend to be short on staff and want to be up and running as quickly as possible. But as you become bigger, you could imagine switching to a cloud or on-premise installation of Dataiku. Employees can keep using the same platform as the company scales.

Powered by WPeMatico

Decades-old ASCII adventure NetHack may hint at the future of AI

Machine learning models have already mastered Chess, Go, Atari games and more, but in order for it to ascend to the next level, researchers at Facebook intend for AI to take on a different kind of game: the notoriously difficult and infinitely complex NetHack.

“We wanted to construct what we think is the most accessible ‘grand challenge’ with this game. It won’t solve AI, but it will unlock pathways towards better AI,” said Facebook AI Research’s Edward Grefenstette. “Games are a good domain to find our assumptions about what makes machines intelligent and break them.”

You may not be familiar with NetHack, but it’s one of the most influential games of all time. You’re an adventurer in a fantasy world, delving through the increasingly dangerous depths of a dungeon that’s different every time. You must battle monsters, navigate traps and other hazards, and meanwhile stay on good terms with your god. It’s the first “roguelike” (after Rogue, its immediate and much simpler predecessor) and arguably still the best — almost certainly the hardest.

(It’s free, by the way, and you can download and play it on nearly any platform.)

Its simple ASCII graphics, using a g for a goblin, an @ for the player, lines and dots for the level’s architecture, and so on, belie its incredible complexity. Because Nethack, which made its debut in 1987, has been under active development ever since, with its shifting team of developers expanding its roster of objects and creatures, rules, and the countless, countless interactions between them all.

And this is part of what makes NetHack such a difficult and interesting challenge for AI: It’s so open-ended. Not only is the world different every time, but every object and creature can interact in new ways, most of them hand-coded over decades to cover every possible player choice.

NetHack with a tile-based graphics update – all the information is still available via text.

“Atari, Dota 2, StarCraft 2… the solutions we’ve had to make progress there are very interesting. NetHack just presents different challenges. You have to rely on human knowledge to play the game as a human,” said Grefenstette.

In these other games, there’s a more or less obvious strategy to winning. Of course it’s more complex in a game like Dota 2 than in an Atari 800 game, but the idea is the same — there are pieces the player controls, a game board of environment, and win conditions to pursue. That’s kind of the case in NetHack, but it’s weirder than that. For one thing, the game is different every time, and not just in the details.

“New dungeon, new world, new monsters and items, you don’t have a save point. If you make a mistake and die you don’t get a second shot. It’s a bit like real life,” said Grefenstette. “You have to learn from mistakes and come to new situations armed with that knowledge.”

Drinking a corrosive potion is a bad idea, of course, but what about throwing it at a monster? Coating your weapon with it? Pouring it on the lock of a treasure chest? Diluting it with water? We have intuitive ideas about these actions, but a game-playing AI doesn’t think the way we do.

The depth and complexity of the systems in NetHack are difficult to explain, but that diversity and difficulty make the game a perfect candidate for a competition, according to Grefenstette. “You have to rely on human knowledge to play the game,” he said.

People have been designing bots to play NetHack for many years that rely not on neural networks but decision trees as complex as the game itself. The team at Facebook Research hopes to engender a new approach by building a training environment that people can test machine learning-based game-playing algorithms on.

NetHack screens with labels showing what the AI is aware of.

The NetHack Learning Environment was actually put together last year, but the NetHack Challenge is only just now getting started. The NLE is basically a version of the game embedded in a dedicated computing environment that lets an AI interact with it through text commands (directions, actions like attack or quaff)

It’s a tempting target for ambitious AI designers. While games like StarCraft 2 may enjoy a higher profile in some ways, NetHack is legendary and the idea of building a model on completely different lines from those used to dominate other games is an interesting challenge.

It’s also, as Grefenstette explained, a more accessible one than many in the past. If you wanted to build an AI for StarCraft 2, you needed a lot of computing power available to run visual recognition engines on the imagery from the game. But in this case the entire game is transmitted via text, making it extremely efficient to work with. It can be played thousands of times faster than any human could with even the most basic computing setup. That leaves the challenge wide open to individuals and groups who don’t have access to the kind of high-power setups necessary to power other machine learning methods.

“We wanted to create a research environment that had a lot of challenges for the AI community, but not restrict it to only large academic labs,” he said.

For the next few months, NLE will be available for people to test on, and competitors can basically build their bot or AI by whatever means they choose. But when the competition itself starts in earnest on October 15, they’ll be limited to interacting with the game in its controlled environment through standard commands — no special access, no inspecting RAM, etc.

The goal of the competition will be to complete the game, and the Facebook team will track how many times the agent “ascends,” as it’s called in NetHack, in a set amount of time. But “we’re assuming this is going to be zero for everyone,” Grefenstette admitted. After all, this is one of the hardest games ever made, and even humans who have played it for years have trouble winning even once in a lifetime, let alone several times in a row. There will be other scoring metrics to judge winners in a number of categories.

The hope is that this challenge provides the seed of a new approach to AI, one that more fundamentally resembles actual human thinking. Shortcuts, trial and error, score-hacking, and zerging won’t work here — the agent needs to learn systems of logic and apply them flexibly and intelligently, or die horribly at the hands of an enraged centaur or owlbear.

You can check out the rules and other specifics of the NetHack Challenge here. Results will be announced at the NeurIPS conference later this year.

Powered by WPeMatico

Apple’s Live Text lets you interact with text in your photos

Apple has introduced a new feature to its camera system that automatically recognizes and transcribes text in your photos, from a phone number on a business card to a whiteboard full of notes. Live Text, as the feature is called, doesn’t need any prompting or special work from the user — just tap the icon and you’re good to go.

Announced by Craig Federighi on the virtual stage of WWDC, Live Text will be arriving on iPhones with iOS 15. He demonstrated it with a couple pictures, one of a whiteboard after a meeting, and a couple snapshots that included restaurant signs in the background.

Tapping the Live Text button in the lower right gave detected text a slight underline, and then a swipe allowed it to be selected and copied. In the case of the whiteboard, it collected several sentences of notes including bullet points, and with one of the restaurant signs it grabbed the phone number, which could be called or saved.

Certain types of text strings can be recognized, as well: a tracking code will be seen as such and a link to the tracking URL will be made immediately available. Translation can be done quickly too, to or from any language supported by Apple’s other translation tools.

Screenshot of a phone selecting text in an image.

The feature is reminiscent of many found in Google’s long-developed Lens app, and the Pixel 4 added more robust scanning capability in 2019. The difference is that the text is captured more or less passively in every photo taken by an iPhone running the new system — you don’t have to enter scanner mode or launch a separate app.

This is a nice thing for anyone to have, but it could be especially helpful for people with visual impairments. A snapshot or two makes any text, otherwise difficult to read, able to be dictated or saved.

The process takes place entirely on the phone, so don’t worry that this info is being sent to a datacenter somewhere. That also means it’s fairly quick, though until we test it for ourselves we can’t say whether it’s instantaneous or, like some other machine learning features, something that happens over the next few seconds or minutes after you take a shot. Your back catalog of photos will be Live Text-ified in your phone’s idle moments, though.

read more about Apple's WWDC 2021 on TechCrunch

Powered by WPeMatico

Iterative raises $20M for its MLOps platform

Iterative, an open-source startup that is building an enterprise AI platform to help companies operationalize their models, today announced that it has raised a $20 million Series A round led by 468 Capital and Mesosphere co-founder Florian Leibert. Previous investors True Ventures and Afore Capital also participated in this round, which brings the company’s total funding to $25 million.

The core idea behind Iterative is to provide data scientists and data engineers with a platform that closely resembles a modern GitOps-driven development stack.

After spending time in academia, Iterative co-founder and CEO Dmitry Petrov joined Microsoft as a data scientist on the Bing team in 2013. He noted that the industry has changed quite a bit since then. While early on, the questions were about how to build machine learning models, today the problem is how to build predictable processes around machine learning, especially in large organizations with sizable teams. “How can we make the team productive, not the person? This is a new challenge for the entire industry,” he said.

Big companies (like Microsoft) were able to build their own proprietary tooling and processes to build their AI operations, Petrov noted, but that’s not an option for smaller companies.

Currently, Iterative’s stack consists of a couple of different components that sit on top of tools like GitLab and GitHub. These include DVC for running experiments and data and model versioning, CML, the company’s CI/CD platform for machine learning, and the company’s newest product, Studio, its SaaS platform for enabling collaboration between teams. Instead of reinventing the wheel, Iterative essentially provides data scientists who already use GitHub or GitLab to collaborate on their source code with a tool like DVC Studio that extends this to help them collaborate on data and metrics, too.

Image Credits: Iterative

“DVC Studio enables machine learning developers to run hundreds of experiments with full transparency, giving other developers in the organization the ability to collaborate fully in the process,” said Petrov. “The funding today will help us bring more innovative products and services into our ecosystem.”

Petrov stressed that he wants to build an ecosystem of tools, not a monolithic platform. When the company closed this current funding round about three months ago, Iterative had about 30 employees, many of whom were previously active in the open-source community around its projects. Today, that number is already closer to 60.

“Data, ML and AI are becoming an essential part of the industry and IT infrastructure,” said Leibert, general partner at 468 Capital. “Companies with great open-source adoption and bottom-up market strategy, like Iterative, are going to define the standards for AI tools and processes around building ML models.”

Powered by WPeMatico

Extra Crunch roundup: Inside Sprinklr’s IPO filing, how digital transformation is reshaping markets

Despite a recent history of uneven cash flow and moderate growth, SaaS customer experience management platform Sprinklr has filed to go public.

In today’s edition of The Exchange, Alex Wilhelm pores over the New York-based unicorn’s S-1 to better understand exactly what Sprinklr offers: “Marketing and comms software, with some machine learning built in.”

Despite 19% growth in revenue over the last fiscal year, its deficits increased during the same period. But with more than $250 million in cash available, “Sprinklr is not going public because it needs the money,” says Alex.

Since we were off yesterday for Memorial Day, today’s roundup is brief, but we’ll have much more to recap on Friday. Thanks very much for reading Extra Crunch!

Walter Thompson
Senior Editor, TechCrunch
@yourprotagonist


Full Extra Crunch articles are only available to members.
Use discount code ECFriday to save 20% off a one- or two-year subscription.


Once a buzzword, digital transformation is reshaping markets

Digital transformation concept. Binary code. AI (Artificial Intelligence).

Image Credits: metamorworks / Getty Images

The changes brought by a global shift to remote work and schooling are myriad, but in the business realm, they have yielded a change in corporate behavior and consumer expectations — changes that showed up in a bushel of earnings reports last week.

Startups have told us for several quarters that their markets are picking up momentum as customers shake up buying behavior with a distinct advantage for companies helping users move into the digital realm.

Public company results are now confirming the startups’ perspective. The accelerating digital transformation is real, and we have the data to prove it.

3 views on the future of meetings

In a recent episode of TechCrunch Equity, hosts Danny Crichton, Natasha Mascarenhas and Alex Wilhelm connected the dots between multiple funding rounds to sketch out three perspectives on the future of workplace meetings.

Each agreed that the traditional meeting is broken, so we gathered their perspectives about where the industry is heading and which aspects are ripe for disruption:

  • Alex Wilhelm: Faster information throughput, please.
  • Natasha Mascarenhas: Meetings should be ongoing, not in calendar invites.
  • Danny Crichton: Redesign meetings for flow.

Powered by WPeMatico