Pachyderm Secures 16 Million Series B With Microsoft’s Venture Team M12
Today, we’re excited to announce we’ve raised $16 million in Series B financing led by M12, Microsoft’s venture arm. The fresh funding lets us accelerate our growth and deliver on our vision of a powerful, open source, “Git for data,” machine learning platform that runs anywhere, from the public cloud to your local datacenter.
M12 and Decibel’s support means we can continue to hire terrific new people and deliver on our vision of Pachyderm Hub, our turn-key data lineage platform. Now, even if you don’t have Kubernetes experts in-house, you can easily spin up a Pachyderm cluster in minutes and get started delivering machine learning apps to your enterprise.
Since we launched in 2014, Pachyderm’s data science platform has swiftly become part of the emerging Canonical Stack (CS) in machine learning. Companies everywhere are waking up to the realization that if you’re only tracking metadata and you don’t have the iron-clad immutability of a robust version controlled file system, then you don’t have a data science pipeline you can truly count on. If your data can change out from under you, you can’t do repeatable data science at scale. That’s why over the past year, we’ve attracted tremendous new enterprise customers like Shell, LogMeIn, Battelle Ecology and AgBiome, as well as multiple government agencies, pharmaceutical and bioinformatics companies, two major North American banks, and other Fortune 500 powerhouses.
More than anything, it’s our robust data lineage capabilities that caught our customer’s eyes. As governments around the world race to create AI legislation that’s often conflicting, overlapping or even confusing, companies need a way to roll back in time and see exactly what created their results if they ever hope to comply with all these legal standards. Pachyderm allows these companies to quickly align with emerging AI legal standards and ensures that Machine Learning Operations (MLOps) teams can always recreate data science experiments perfectly every time.
“Value from AI is not just about the first great insight. It’s ensuring that every insight only gets more accurate with time,” said Vaibhav Kumar, Software Engineering Fullstack Development Manager at Shell. “Pachyderm’s ability to deliver data lineage to data scientists is a great leap towards explainable AI.”
Funding also allows us to expand on partnerships and alliances. We’ve joined the AI Infrastructure Alliance, along with partners Seldon and Determined AI, to support the growth of a rich ecosystem of open source and open core platforms that work together seamlessly to give you an end-to-end machine learning experience. Even better, these platforms won’t lock you in to a private, proprietary cloud system like Sagemaker, which keeps you trapped on a single cloud, instead of letting you freely choose any public, private or on-prem cloud.
“We’re excited to witness the acceleration of Pachyderm’s enterprise adoption as data versioning becomes an imperative for organizations of all sizes,” said M12’s Kashyap. “Pachyderm is on its way to becoming the next big data infrastructure company as enterprises aim to mirror best practices from the DevOps domain. M12 looks forward to partnering in that journey.”