Abacus.AI is announcing $50M in Series C funding from Tiger Global, Coatue, Index Ventures, and Alkeon. The round was led by Tiger Global with participation from Coatue, Index Ventures, and Alkeon.
With this round, the company has raised $90.3M in total funding in 30 months. Abacus.AI will use the funds from this round to further enhance its end-to-end AI platform.
“We are excited to back Abacus for their Series C,” said David Cahn, Partner at Coatue. “We think Bindu has assembled an impressive team at the intersection of full-stack ML and deep learning and we are proud to support Abacus’s dream of being the market leader in this rapidly growing space.”
“AI has become the center of discussion among Executives, however, its widespread deployment has been hindered by scarcity of talent and resources with the know-how,” said Josh Shirazi, Principal at Alkeon Capital. “Abacus.AI is democratizing the use of AI by offering an end-to-end platform with the greatest breadth of domain-specific use cases. With the launch of computer vision use-cases, Abacus.AI is unlocking AI on unstructured data sets, amplifying the value customers already realize by discovering incremental revenue opportunities, saving costs, gaining productivity, and increasing NPS. We’re thrilled to collaborate with one of the strongest AI/ML teams, who has built systems at scale across their experiences at Google, Amazon, and Uber.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.