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Comet announces $13M Series A for ML model building tool – TechCrunch

Many recent investments have been made in machine learning startups as companies are pushing this concept into a variety of initiatives. CometToday, the company, which helps customers iterate through models in an experimental process designed to ultimately reach production, announced the $ 13 million Series A.

Scale Venture Partners led the round with the support of existing investors Trilogy Equity Partners and Two Sigma Ventures. The startup has raised nearly $ 20 million, according to Crunchbase data.

Investors saw companies making more than 500% revenue last year, says co-founder and CEO Gideon Mendels. “Things are working very well for us. On the product side, we continue to double what is called experimental management, which is actually tracking these models. The data, hyperparameters, entered into the models, And it helps the team debug and understand what’s happening in the model, “he said.

In addition to funding, the company has also announced an extension of its platform to move models to post production using a product called Comet Model Production Monitoring (MPM).

“Model production monitoring products are basically focused on post-production models. While the original product focused on how to model multiple offline experiments during training, MPM We’re focusing on these models the first time they’re in production, ”explains Mendels.

Andy Vitus, a partner of investor Scale Venture Partners, sees model lifecycle management tools like Comet as a developing market. “Machine learning and AI are driving the future of enterprise software, and it’s imperative that organizations have complete visibility and control over the model lifecycle,” Vitus said in a statement.

As the company grows, it will open a new engineering hub in Israel in addition to its New York office. These offices are closed for now, but Mendelssohn says he will have hybrid offices when the pandemic declines.

“From now on, we plan to have an office in New York City and another in Tel Aviv. But if they choose not to do so, we all require everyone to work in the office. I’m not going, or they can come in a few days a week, and we’re still going to support recruitment from around the world. “

Comet announces $13M Series A for ML model building tool – TechCrunch Source link Comet announces $13M Series A for ML model building tool – TechCrunch

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