- There are 9,216 startups and companies listed in Crunchbase today who are relying on machine learning for their main and ancillary applications, products, and services, a 6% increase from 2019’s 8,705 startups & companies.
- Artificial Intelligence-related companies raised $16.5B in 2019, driven by 695 deals according to PwC/CB Insights MoneyTree Report, Q1 2020.
- Artificial intelligence deals decreased in Q1, 2020, down to 148 deals from 164 in Q4, 2019, according to PwC/CB Insights MoneyTree Report, Q1 2020.
One in ten enterprises now uses ten or more AI applications, with leading use cases being chatbots, process optimization, and fraud analysis, according to MMC Ventures. Open jobs requiring TensorFlow experience is a useful way to quantify how prevalent machine learning is becoming in business today. There are 3,602 open positions in the U.S. on LinkedIn that require TensorFlow expertise and 10,345 open positions worldwide as of today. Open jobs on LinkedIn requesting machine learning expertise in the U.S. further reflect its growing dominance in all businesses. There are 37,492 jobs in the U.S. today, according to LinkedIn, that list machine learning as a required skill, and 81,385 worldwide. Please see the latest roundup of machine learning forecasts and market estimates, 2020, for more market data on machine learnings’ exponential growth.
Top 25 Machine Learning Startups To Watch In 2020
- AI.Reverie – AI.Reverie is a simulation platform that trains AI to understand the world. They offer a suite of synthetic data and vision APIs to help businesses across different industries train their machine learning algorithms and improve their AI accuracy and repeatability. Key industries AI.Reverie has solutions for including Agriculture, Industrial, including managing construction sites, Smart Cities, and Smart Homes. AI.Reverie has raised a total of $5.6M in funding over three rounds. Their latest funding was raised on Apr 14, 2020.
- Anodot – Anodot applies AI to deliver autonomous analytics in real-time, across all data types, at enterprise scale. Unlike the manual limitations of traditional Business Intelligence, Anodot provides analysts greater control over their business with a self-service AI platform that runs continuously to eliminate blind spots, alert incidents and investigate root causes. Anodot has nearly 100 customers in digital transformation industries, including e-commerce, FinTech, AdTech, Telco, Gaming, including Microsoft, Lyft, Waze, and King. Founded in 2014, Anodot is headquartered in Silicon Valley and Israel, with sales offices worldwide. Anodot has raised a total of $62.5M in funding over five rounds. Their latest funding was raised on Apr 16, 2020, from a Series C round. The following screen from their app is an example of how Anodot provides real-time anomaly detection.
- Arturo, Inc. –Arturo is a deep learning spin-out from American Family Insurance focused on delivering highly accurate measurement and predictive data for the Property & Casualty (P&C) Insurance, Reinsurance, REIT, and PERE markets. The company is headquartered in Chicago, IL, and has representation across North America to support both the Insurance and Re-Insurance Industry. Arturo has recently added to its locations a presence in Ottawa, Canada. Arturo, Inc. has raised a total of $8M in funding over two rounds. Their latest funding was raised on Apr 7, 2020, from a Series A round.
- Comet.ml – Providing data scientists with a scalable platform that can automatically track their datasets, code changes, experimentation history, and production models is the Comet.ml’s mission. Their goal is to bring greater efficiency, transparency, and reproducibility into AI and ML development. Comet.ml is the first platform built for ML that enables engineers and data scientists to efficiently maintain their preferred workflow and tools, while easily tracking previous work and collaborating throughout the iterative process. Comet.ml also optimizes models with bayesian hyperparameter optimization – a type of algorithm – which saves time typically spent on manual tuning ML models. As a result, users have increased visibility of data science, ML results, and progress throughout an organization. Notable customers include AutoDesk, Boeing, Google, Uber, and the majority of Fortune 100 enterprises. Comet.ml has raised a total of $6.8M in funding over four rounds. Their latest funding was raised on Apr 22, 2020.
- Eightfold.ai – Eightfold AI’s mission is there is a “Right career for everyone in the world,” which is why they immediately stepped up to help flatten the unemployment curve post the health crises created by COVID-19. Within a matter of weeks, Eightfold AIs’ engineers created the Eightfold Talent Exchange, working with the FMI – The Food Industry Association and supporting partner McKinsey. The Talent Exchange fills an urgent need in the market for a platform that matches people to the right jobs in companies that are hiring. Associated Wholesale Grocers, C&S Wholesale Grocers, CircleCI, Giovanni Foods, Ingles, Instacart, Lowe’s, Macy’s, Mondelez International Postmates, Stop & Shop, and United Airlines are all partnering with Eightfold and participating in the Talent Exchange. For additional details on the Talent Exchange, please see the post, How To Reduce The Unemployment Gap With AI. At the same time, the Talent Exchange was being developed and launched a new Virtual Event Recruiting solution. Eightfold has raised a total of $85M in funding and has opened additional offices in New York, London, Munich, and New Delhi. The company has customers in 4 continents, 25 countries, and 15+ languages because the AI models are language independent.
- Frame.ai – Frame AI is an early warning and continuous monitoring system that operationalizes Voice-of-Customer insights across organizations in real-time to enable greater customer-centric decisions and direction. By consolidating and enriching data across help desks, call center, CRM, and other channels, Frame AI identifies emerging themes driving customer relationships and operational costs and makes them immediately actionable. CX teams use Frame AI to identify the “why” behind customer outcomes so that they can scale what works well, and limit the impact of what does not. Frame.ai was founded in 2016 and is backed by top venture capital firms, including FirstMark Capital, Greycroft Partners, and G20 Ventures. Notable customers include Intercom, HelpScout, Salesforce, Slack, and ZenDesk. Frame AI has raised a total of $10.3M in funding over three rounds. Their latest funding was raised on Apr 15, 2020, from a Series A round. Frame.ai is known for the clarity and intuitive design of their dashboards, and example of which is shown below with anonymized data:
- Instreamatic – An AI-powered Voice Dialogue Marketing platform designed to power interactive, dialog-based advertisements on mobile platforms, Instreamatic is noteworthy for its use of natural language understanding (NLU) for training Voice AI algorithms. The company offers an all-in-one solution with streamlined integration options, providing audio publishers and advertisers with the tools to manage, measure, and monetize ad inventory with dialog ads. Instreamatic has raised a total of $2.2M in funding over five rounds. Their latest funding was raised on Apr 9, 2020, from a Seed round.
- Jus Mundi – Jus Mundi is a public international law and investor-state arbitration search engine that combines an intuitive, user-friendly interface, advanced technologies including artificial intelligence and machine learning, with comprehensive content to increase the efficiency of international law research. International legal research can be particularly exhausting since information on cases may simply not be available to lawyers or because international law and investor-state jurisprudence are spread across various restrictive databases. Jus Mundi collects and indexes these documents so that its users don’t waste time trying to extract essential case information from legal materials. Its database contains over 4 000 international treaties and 12 000 decisions and awards. Its primary clients are international Anglo-American law firms. Jus Mundi has raised a total of €1M in funding over 1 round. This was a Seed round raised on Apr 1, 2020.
- Kaizo – Kaizo builds a performance management platform for customer support teams. It uses gamification and AI to improve operational efficiency, elevate teams’ performance and retention with actionable OKRs. It’s available out of the box through the Zendesk Marketplace and is one of the top 10 rated customer support apps based on user feedback. Kaizo is a diverse team of entrepreneurs from all around the globe, working in Amsterdam and remotely from many countries, making a mark on team productivity and transforming performance management. Co-founded by Dominik Blattner and Christoph Auer-Welsbach, Kaizo aims to actively guide employees towards achieving their goals and making an impact in their companies. Kaizo has raised a total of $3M in funding over 1 round. This was a Seed round raised on Mar 26, 2020. The following is an example of how the Kaizo performance management platform gamifies customer support:
- Luminovo – Luminovo is a deep learning company helping corporations develop tailored applications. The company was founded by a team of AI experts from Stanford University with experience applying AI in the wild, having worked at Google, Amazon, Intel, and McKinsey. The team relocated to Munich in 2017, making their AI expertise available to the German industry. By capitalizing on intelligent software and deep learning, Luminovo simplifies and accelerates electronics development and production processes. The startup’s mission is to bring innovations faster to everyone by reducing the time and resources needed to go from an idea to a market-ready electronic circuit board. Luminovo has raised a total of $2.5M in funding over 1 round. This was a Pre-Seed round raised on Apr 8, 2020.
- MixMode – MixMode is an AI-focused cybersecurity startup company using patented AI originally developed for projects Defense Advanced Research Projects Agency (DARPA) and the U.S. Department of Defense (DoD). MixMode’s Network Security Monitoring Platform provides deep network visibility and predictive threat detection capabilities, enabling an organizations’ security team to perform real-time efficiently and retrospective threat detection and visualization. MixMode is used by breach response teams worldwide, security analysts and SOC teams can integrate MixMode into their playbooks, SIEMs, or utilize MixMode on a standalone basis to dramatically reduce investigation time, cost and expertise required to respond to persistent threats, malware, insider attacks, and nation state espionage efforts. MixMode has raised a total of $17.3M in funding over five rounds. Their latest funding was raised on Apr 7, 2020, from a Series A round. The following is an example of a MixMode dashboard:
- ModelOp – ModelOp enables large enterprises to address the scale and governance challenges necessary to gain the most value from enterprise AI and Machine Learning investments. The ModelOp Center platform automates the complete life cycle for models, regardless of where they are created or deployed. Fortune1000 companies in financial services, manufacturing, healthcare, and other industries rely on ModelOp to integrate their models into operations. ModelOp has offices in Chicago, IL, Salt Lake City, UT and San Jose, CA. ModelOp has raised a total of $6M in funding over three rounds. Their latest funding was raised on Mar 31, 2020, from a Series A round.
- OctoML – OctoML’s mission is to change how developers optimize and deploy machine learning models for their AI needs. OctoML’s mission is to enable more developers to more easily and safely deploy ML models to more hardware. OctoML has raised a total of $18.9M in funding over 2 rounds. Their latest funding was raised on Apr 3, 2020 from a Series A round. OctoML builds on Apache TVM to offer automated ML operations with a unified software foundation, for any model on any hardware. What makes OctoML noteworthy is their unique approach of using ML to optimize ML, reducing the optimization and tuning time for ML operations. The company’s core offering is the Octomizer. This SaaS platform enables anyone to turn their ML models into highly optimized packages for deployment in the edge and in the cloud. A diagram of the Octomizer is shown below:
- Olive – Olive develops artificial intelligence and RPA solutions that enable healthcare organizations to improve efficiency and patient care while reducing costly administrative errors. Its AI solution acts as the intelligent router between systems and data by automating repetitive, high volume tasks and workflows providing true interoperability for organizations. Olive are pioneers working to alleviate the most routine, mundane tasks healthcare professionals do on their jobs, so they are freed up to work on more complex, challenging, and rewarding treatment programs for their patients Olive has raised a total of $123.8M in funding over six rounds. Their latest funding was raised on Mar 31, 2020, from a Series E round.
- Paige – Paige builds software to advance the diagnosis, treatment, and biomarker discovery for cancer. The Memorial Sloan Kettering spin-out aims to help pathologists and clinicians make faster, more informed diagnostic and treatment decisions and to bring new digital biomarkers to their practice. Paige’s proprietary Machine Learning solutions provide insights from decades of data from the world’s experts in cancer care and were recently published in Nature Medicine. The company’s first product for prostate cancer detection received Breakthrough Designation from the FDA as a novel therapy that stands to improve diagnostic accuracy while reducing costs to health systems. Paige has raised a total of $75M in funding over three rounds. Their latest funding was raised on Apr 23, 2020, from a Series B round.
- PostEra – PostEra uses machine learning to close the design-make-test cycle of drug discovery and reduce our clients’ cycle times. They are currently leading an international team of scientists to find a COVID antiviral via on open science initiative. PostEra has raised a total of $2.5M in funding over two rounds. Their latest funding was raised on Mar 30, 2020, from a Seed round.
- Rosetta.ai – Rosetta.ai helps e-commerce businesses increase conversion and increase order value with deep learning-based technology to analyze the individual consumer’s preferences and behaviors, predict future sales, and provide personalized recommendations for online and offline during the consumer’s shopping journey. Different vertical e-commerce markets have different shopping behaviors and preferences. Rosetta.ai focuses on the vertical e-commerce industry, the fashion industry, and dives more into the fashion, e.g., apparel, cosmetics, and accessory, etc., to build the dedicated deep learning models and algorithms for it and automatically arrange suitable models and algorithms for e-commerce. Rosetta.ai has raised two rounds. Their latest funding was raised on Mar 10, 2020, from a Convertible Note round.
- Socure – Socure is a New York-based software company that provides consumers and businesses with an AI-based cybersecurity SaaS solution to fight against the risk of identity theft and related fraudulent activities. It enables the next-generation of multi-factor authentication by applying machine learning techniques with biometrics and data intelligence from email, phone, IP, social media, and the broader internet. The company capitalizes on alternative data that has proven to provide better fraud prediction capability. Founded in 2012, Socure is recommended for enterprises and financial institutions. Socure has raised a total of $61.9M in funding over seven rounds. Their latest funding was raised on Feb 28, 2019, from a Series C round.
- SweetData.io – SweetData.io is a data marketplace allowing anyone to search, buy, sell, and download datasets aimed for machine learning and big data purposes. SweetData.io provides a way to connect people that have data with developers and industries that need the data to build their AI applications. By providing a way to find and buy already compiled data quickly, developers are saving valuable time and money using SweetData.io to find data they need and collaborate with other data scientists who have the same interests.
- teX.ai – teX.ai is a startup based on Indium Software’s SaaS software application, which is designed to convert complex text data into accurate insights using AI and machine learning. teX.ai is a hands-on, intuitive text analytics tool built on Python libraries. The SaaS-based text analytics suite provides insights to enhance customer experience by processing raw text data using NLP, AI, and DL algorithms. The startup has been successful in selling into banking, retail, e-commerce, manufacturing, education, hospitals (healthcare), and lifesciences.
- ThinkDeep AI – ThinkDeep AI is a startup based in Bordeaux at the ENSC (National School for Cognitive Science) on the INP Engineering Center of Excellence. The company was founded by experts in Artificial Intelligence (AI), Image Processing and Computer Vision. They are the minds behind Deepflow, a low-code platform that abstracts away the complexity of designing and running data-science workflows. Their visual editor let domain experts create highly-specialized AI workflows by iterating from production-ready examples. A vast library of pre-existing workflows is available for free for anyone to copy and iterate. ThinkDeep AI has raised a total of €250K in funding over 1 round. This was a Pre-Seed round raised on Apr 5, 2020.
- Tonkean – Tonkean uses AI to autonomously coordinate, execute, and manage organizations’ business workflows across data and people closing information and process gaps. Tonkean’s approach to applying AI to business workflows is noteworthy for its intuitive design that provides for team members to contribute and provide input. The Tonkean Bot is configurable and acts as the orchestrator for an organizations’ entire workflow. The Bot performs the machine-focused tasks and coordinates with team members when their input and expertise is needed. Current customers include Salesforce, Microsoft, TripActions, Lyft, Hopper, and more. Tonkean has raised a total of $31.2M in funding over five rounds. Their latest funding was raised on Apr 8, 2020, from a Series A round.
- vendi – vendi is an AI-assisted marketplace to buy and sell quality products, starting with phones. vendi was built to remove online scammers, improve peer to peer safety, and automate the online selling experience. Using their verification network, set of principles, and automatic listing powered by machine learning, they’ve increased product portfolio quality and created a safe space for people to buy and sell. vendi has raised a total of £600K in funding over 1 round. This was a Pre-Seed round raised on Apr 9, 2020.
- Voci Technologies – Voci helps companies analyze their audio for in-depth voice of the customer insights and track call center performance metrics using the most accurate speech recognition, natural language, and machine learning technologies. Companies in highly regulated industries rely on Voci to safeguard their audio and monitor call center agents for compliance purposes. Voci also produces highly readable automatic speech-to-text voicemail output for telecommunication companies and their customers. Voci also is developing and selling cloud-based and on-premises real-time and archiving solutions for enterprises. Voci Technologies has raised a total of $18M in funding over nine rounds. Their latest funding was raised on Mar 12, 2018, from a Series B round.
- Zest.ai – Zest AI makes the power of machine learning safe to use in credit underwriting. Lenders using Zest Automated Machine Learning make better decisions and better loans — increasing revenue, reducing risk, and automating compliance. Zest AI was founded in 2009 with the mission of making fair and transparent credit available to everyone and is now one of the fastest-growing fintech software companies. Zest AI has raised a total of $217M in funding over six rounds. Their latest funding was raised on Jul 18, 2016. Zest.ai’s Insights is the best blog I’ve seen covering the intersection of machine learning, credit underwriting, and reporting, and it’s great to see their AI Team conducting fascinating research. Examples of recent Insight posts include Young Americans Are Most Anxious About COVID’s Impact On Their Credit Score and Why Transparent AI Is More Important Now Than Ever.
PwC/CB Insights MoneyTree Report Q1 2019 (PDF, 75 pp., no opt-in)
Roundup Of Machine Learning Forecasts And Market Estimates, 2020, Forbes, January 19, 2020
Roundup of Machine Learning Forecasts And Market Estimates, 2019, Forbes, March 27, 2019
Venture Pulse Q1, 2019: Global Analysis Of Venture Funding (PDF, 103 pp., no opt-in)
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