Cnvrg.io Raises $8M to Advance Auto-Adaptive Machine Learning Posted on : Nov 13 - 2019

Cnvrg.io, which is developing a data science platform through auto-adaptive and continual machine learning, today announced raising $8 million in the completion of its seed and Series A funding rounds. Led by Hanaco VC, the latest round follows the company’s seed funding round, led by Jerusalem Venture Partners.

The company said the new funding will allow the company to open offices in New York and expand its sales and research and development efforts. It serves companies across several industries, including financial services, insurance, health care, retail, automotive, gaming, manufacturing, and media.

“As data scientists and AI consultants ourselves, we understand the frustration data scientists, data engineers and organizations encounter when building machine learning,” said Yochay Ettun, CEO and co-founder of cnvrg.io. “That is why we started cnvrg.io, to help make the process faster and more efficient, so data scientists and developers can focus on the real magic – algorithms.”

Cnvrg.io said its platform is built to manage, unify, and accelerate the full machine learning lifecycle – from vision and development through collaboration and testing, all the way to production, deployment, monitoring and refinement. The system helps teams to “quickly develop, test, manage, deploy and refine machine learning models to ensure consistent production-driven improvement,” the company said in a statement.

Tools for control

The company said it has decreased the time and complexity of modeling, building, training, and deploying production-grade AI and machine learning models, by giving data scientists, developers, and analysts the tools to maintain flexibility and control, including:

• Continual learning to build and automate ML pipelines from research to production, automatically retraining models in production with incoming data and advanced monitoring capabilities to ensure that models are accurate, healthy and performing well.
• Machine learning management that standardizes the full ML process in a collaborative environment, which supports management of models, experiments, data and research for “100% reproducible data science”.
• An open platform that works with any framework or programming language. The platform’s advanced connectivity to any compute resources (cloud/on premis) lets companies utilize on-premise infrastructure, including Kubernetes, Data Lakes, Hadoop, and more – as well as scale to any cloud service.

The company is also backed by private investors Kevin Bermeister, Skype’s founding investor, and Prashant Malik, co-creator of Cassandra. For more details on the company, visit its website.

“We had been looking to make an investment into a company that democratizes AI and machine learning for quite some time,” said Pasha Romanovski, the co-founding partner at Hanaco Ventures. “What really impressed us is how quickly [cofounders] Leah [Kolben] and Yochay [Ettun] built a product to address this market need, recruited an impressive team and onboarded a great group of customers. In a few years, most companies will have a data science team, and cnvrg.io is poised to be their platform of choice.” Source