Big data is an invaluable tool for companies in today’s data-driven markets, but it can be a difficult tool for smaller business to utilize. This is something that Dato, previously known as GraphLab, wants to fix by letting developers build apps that utilize machine learning and artificial intelligence capabilities. Alongside the re-branding, the startup announced today that it has raised another $18.5 million in order to help further its goals.
There are big changes afoot at GraphLab, the Seattle-based startup that aims to make it easier for small and medium businesses to make sense of mounds of data. First off, the company has rebranded to Dato, a move that it hopes will better encompass the breadth of its machine learning product. In addition, Dato announced today that it raised an $18.5 million Series B investment round. The round saw participation from NEA and Madrona Venture Group, two firms that have previously invested in Dato, along with investments from Vulcan Capital and Opus Capital Ventures. To date, the company has raised a total of $25.25 million. Dato’s product lets developers build apps with machine learning and artificial intelligence capabilities that automatically scale and tune so that a software maker can seamlessly take their product from a proof of concept to a fully functioning app.