Arize A has announced that it has raised $19 million in Series A financing. The round was led by Battery Ventures with participation from previous investors Foundation Capital, Trinity Ventures, The House Fund and Swift Ventures. Dharmesh Thakker, general partner at Battery Ventures will join the Arize AI board.
“In the same way that tools had to be created in the software industry to track issues, manage version history, oversee builds, and provide monitoring, we’re seeing a similar trajectory in the ML space,” said Aparna Dhinakaran, co-founder and chief product officer at Arize AI. “Without the tools to reason about mistakes a model is making in the wild, teams are investing a massive amount of money in the data science laboratory but essentially flying blind in the real world.”
“While almost every business is massively investing in artificial intelligence for competitive advantage, very few are able to deliver models continuously with a high return on that investment,” said Jason Lopatecki, CEO of Arize AI. “Arize AI is successfully eliminating barriers to a future where ML practitioners understand why a machine learning model behaves the way it does after it is deployed into the real world. Ultimately, as AI systems become increasingly complex, their capabilities and limitations will become more profound and will require a highly advanced level of useful, meaningful human oversight to ensure they are contributing to, not detracting from, societal well-being.”
“As the world becomes increasingly AI-centric, there will be a few primary categories of ML infrastructure tools that truly matter for data organizations,” said Battery’s Thakker.
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.