San Francisco-based data science management platform Domino Data Lab announced Tuesday that it raised $100 million in equity financing. The Series F, led by Great Hill Partners, comes in a little over a year following its $43 million Series E. The fresh capital will be used to further growth efforts across the company.
Domino’s platform helps businesses accelerate their research and manage data science at scale. The company achieves this via a special mix of machine learning and information technology operations, or MLOps. The goal is to encourage more collaboration between data scientists and IT professionals in order to turn machine learning algorithms into a product.
“Businesses that run on models perform better, and that’s the transformation every business is going to have to make this decade from digital to model-driven,” Nick Elprin, co-founder and CEO of Domino Data Lab, said in a statement.
Domino’s virtual workbench offers engineers a range of machine learning model management tools to help them with everything from detecting data drift to monitoring performance.
“Many of our clients have succeeded by growing their data science population through up-skilling less technical analysts and using technology to make it easier for their data science practitioners to be more productive and effective.” Elprin continued.
To date, more than one in five Fortune 100 companies use Domino, according to the company. Leading corporations like Dell Technologies, Allstate and Lockheed Martin count themselves among Domino’s long list of clients.
Following the latest raise, Domino plans to continue expanding its team. The company is now hiring for over 40 in-person and remote-based tech positions spanning multiple departments. A majority of hires are being made across the company’s engineering, sales and marketing teams. Moving forward, Domino plans to place its focus on product development.
Founded in 2013, Domino has raised $223.6 million in venture capital financing to date, according to Crunchbase.
Additional investors Coatue Management, Highland Capital Partners and Sequoia Capital participated in the round, among others.
