H20.ai raises US$100 million in Series E funding; key things to know

3 min read | November 09, 2021 01:28 PM AEDT | By Ashish

H20.ai raises US$100 million in Series E funding; key things to know — Image source: Who is Danny, Shutterstock.com

H2O.ai valuation

The AI company has secured a funding of over US$250 million to date. The company said that it had raised US$100 million at a pre-money valuation of US$1.6 billion. The start-up will use the funds to increase its workforce, add more features, and roll out new products.

What CBA said

Matt Comyn, CBA’s CEO, said: “The investment and strategic partnership with H2O.ai extends our leadership in artificial intelligence and ultimately boosts the bank’s ability to offer leading digital propositions and reimagine products and services to customers.”

CBA is also participating in H2O.ai’s AI 4 Good initiatives, and recently announced the launch of the H2O.ai Wildfire and Bushfire Challenge. The latter is a campaign to reduce the economic and climate impact of wildfires and bushfires.

Meanwhile, CBA is one of the 20,000 organisations that employ H2O.ai’s namesake artificial intelligence development platform as part of its machine learning initiatives.

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