Determined AI, a San Francisco-based Deep learning management platform, has secured a USD11 million in funding round to expand its marketplace and procure more engineers with the skills of distributed system design and understanding on building Artificial Intelligence applications. The funding round was led by GV, formerly known as Google Ventures, a venture capital investment arm of Alphabet Inc. As per the Determined AI, this fresh capital will be utilized to bring a series of new capabilities to its Deep Learning platform development tool for Data Scientists and Machine Learning engineers to recognize and preprocess data sets.
Today, businesses use Determined AI tools to manage model development workflows, facilitate automatic distributed or parallel execution of model training, tweaking models, and optimize hyperparameters. Its customers usually utilizing all the rage frameworks, including Keras, TensorFlow, or PyTorch and buying their own GPUs for on-premise distributed training of neural networks, rather than training with Google Cloud Platform or Amazon’s AWS. By using GPUs instead of Public Clouds for training AI systems, customers of Determined AI have seen 5-10 times lower costs than those practicing Public Cloud offerings.
Founded in the year 2017 by Evan Sparks, Neil Conway, and Ameet Talwalkarin, Determined AI has raised a sum of total USD 13.6 million to date. Along with GV, Amplify Partners, CRV, Haystack, SV Angel, Specialized Types, and The House, also participated in the funding round. Headquartered in San Francisco, United States, the company currently has 16 employees.