Abacus.AI recently announced that it has secured a $50M in a Series C funding round, which was led by Tiger Global, Coatue, Index Ventures, and Alkeon. The company also announced the release of Computer Vision as a Service to support its use-cases.
David Cahn, Partner at Coatue, said, “We are excited to back Abacus for their Series C. We think Bindu has assembled an impressive team at the intersection of full-stack ML and deep learning and we are proud to support Abacus’s dream of being the market leader in this rapidly growing space.”
Abacus.AI will use these funds to improve its end-to-end artificial intelligence (AI) platform, which allows businesses of all sizes to develop, train, and deploy machine and deep learning models. The company has generated $90.3M in total funding in 30 months.
Josh Shirazi, Principal at Alkeon Capital, said, “AI has become the center of discussion among Executives, however, its widespread deployment has been hindered by scarcity of talent and resources with the know-how. Abacus.AI is democratizing the use of AI by offering an end-to-end platform with the greatest breadth of domain-specific use cases. With the launch of computer vision use-cases, Abacus.AI is unlocking AI on unstructured data sets, amplifying the value customers already realize by discovering incremental revenue opportunities, saving costs, gaining productivity, and increasing NPS. We’re thrilled to collaborate with one of the strongest AI/ML teams, who has built systems at scale across their experiences at Google, Amazon, and Uber.”
Abacus.AI provides vertically integrated support for various typical enterprise use-cases in addition to offering machine learning infrastructure to handle all aspects of model design, development, and operationalization. Abacus is used by enterprises ranging from small startups to Fortune 500 companies. AI’s cutting-edge platform will help them expedite their AI adoption.
Organizations may utilize Abacus.AI for standard computer vision use-cases including image recognition, classification, and segmentation with this version. The user-friendly interface of Abacus.AI makes it simple for businesses to create custom, deep-learning-based computer vision models that use transfer learning.
Furthermore, all of Abacus.AI’s tabular data use-cases now incorporate graphics and language, allowing it to synthesize insights from a variety of sources. Abacus. AI is the first AI platform that assists businesses in developing mixed/hybrid models that offer predictive insights. In addition to signals from tabular and text data, data scientists may now incorporate predictive signals from images.