DataRobot is buying the data preparation software provider, which has raised $86m from investors such as Accenture, Cisco, Intel, Microsoft and Deutsche Telekom.
Paxata, a US-based data preparation platform developer backed by corporates Accenture, Cisco, Intel, Microsoft and Deutsche Telekom, has agreed to an acquisition of undisclosed size by data science technology producer DataRobot.
DataRobot confirmed the deal will be its largest acquisition of 2019. It purchased data collaboration platform Cursor in February this year and ParallelM, a developer of machine learning monitoring software, four months later, without revealing the size of those deals.
Founded in 2012, Paxata has created an online data preparation platform that relies on artificial intelligence and distributed computing technology to automate and accelerate the process of converting raw data into actionable insights.
The product will be integrated into DataRobot’s offering, and the companies have already unveiled their first collaboration, a product that helps data scientists prepare data for machine learning applications.
Paxata said it had secured $86m in funding ahead of the acquisition. Professional services firm Accenture had made an investment of undisclosed size in the company late 2017 in connection with a strategic partnership.
Semiconductor and data technology company Intel led Paxata’s $33.5m series D round in 2016 through its Intel Capital unit. The round included Cisco Investments, Deutsche Telekom Capital Partners and M12, on behalf of networking technology provider Cisco, telecommunications firm Deutsche Telekom and software producer Microsoft respectively.
Accel, AirTree Ventures, EDBI and In-Q-Tel also took part in the series D round. The company’s earlier backers include Walden-Riverwood Ventures, Toba Capital and Sanju Bansal.