Why would I want to work with a bunch of dudes?’ So we have to increase that pool.
“I think one of the things we need to do is to increase that pool dramatically because one of the problems we definitely have is women where there’s 80-90% men and saying, ‘We don’t even want to do this. As they build up, she says it’s important to add women and build a diverse company, and Abacus has an internship for high school girls to show them that STEM is an exciting career proposition, something she says that she hopes to expand because the industry needs to attract more girls and women. With the new capital, the plan is to double that number by year’s end. One of those vertical solutions is computer vision, and as part of today’s news, the company also announced new computer vision use cases, including image detection, classification and segmentation.Ībacus, which was founded in 2019, currently has 45 employees.
The approach puts Abacus in competition with the major cloud vendors and with startups like DataRobot, the Boston AutoML startup that has raised $1 billion, but she believes that Abacus has been able to simplify the model production process more than the cloud companies, and while she acknowledges that DataRobot is a competitor, she says her company’s ability to offer those vertical solutions is a big differentiator. For companies that have data science teams, and have already built a model, they can use that model instead of one provided by Abacus, giving a complete experience depending on the customer’s requirements. With this approach, you choose a vertical, point to a data set and Abacus builds the model for you. “With Abacus, you have all the pieces and modules that a standard AI platform like SageMaker has, but it is customized for each of those use cases,” she said. She says that this enables companies which lack a dedicated data science team to build machine learning models with the help of the platform. So think of things like churn reduction or lead scoring or personalization,” Reddy told me. “We have this end-to-end AI/ML platform where the unique thing is we have these vertically integrated solutions, which are kind of specific to common enterprise AI use cases.
#Abacus technology back door series#
The most recent funding prior to this was the company’s $22 million Series A last November.Ībacus co-founder and CEO Bindu Reddy, whose background includes stints at Google and AWS, says the company is trying to create a complete AI platform. With today’s investment, the company says that it has raised over $90 million in less than 30 months. Tiger Global led the round, with participation from Coatue, Index Ventures and Alkeon Capital. At the same time, it announced that the platform was expanding to include computer vision use cases. Today the company announced a $50 million Series C.
#Abacus technology back door driver#
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