MindsDB, a San Francisco, CA-based developer of machine learning capabilities capable of being integrated into databases, raised $16.5 million in Series A funding to fuel commercialization efforts.
The round was led by Benchmark. This new investment follows MindsDB's latest integrations with Hugging Face and OpenAI, which allow anyone to easily bring state-of-the-art natural language processing and generative AI models into their database with only a few lines of SQL.
MindsDB was built to dramatically speed up the process of building AI-powered applications. With more than 13,000 GitHub Stars and 70+ technology and data integrations, MindsDB has become one of the fastest-growing developer platforms.
"Over the past 20 years, we've seen important revolutions in the world of SaaS, from the rise of web applications, to the growth of mobile apps. Now, it's time for the next revolution in the world of technology: the reinvention of all the systems we use on a daily basis, like email, calendars, CRMs, ERPs, CMSs, telehealth, office documents, etc, all with AI capacities at their core," said Jorge Torres, Co-Founder and CEO of MindsDB. "This reality is rapidly changing the way we interact with technology and with MindsDB, developers can rapidly create the next wave of AI-centered applications that will transform the way we live and work."
Benchmark General Partner Chetan Puttagunta is joining the board of directors.
Company: MindsDB
Raised: $16.5M
Round: Series A
Funding Month: February 2023
Lead Investors: Benchmark
Additional Investors:
Company Website: https://mindsdb.com/
Software Category: Machine Learning
About the Company: Founded in 2017 by Adam Carrigan and Jorge Torres, MindsDB is an open-source machine learning (ML) startup that brings ML to the database. The company's platform offers a predictive artificial intelligence layer for existing databases, which allows organizations to apply machine learning to their own data. Its platform allows users to utilize their data to make forecasts by offering a machine learning system that can be integrated into a user's database. With MindsDB, users are able to build, train, optimize, and deploy their ML models without needing other platforms, and the models can be used to get forecasts, query their data, and query their ML models. MindsDB is a fully remote, international company, that currently employs 22 people based in the US, UK, Colombia, North Macedonia, Romania, New Zealand, Germany, Chile, Canada, Ukraine, Russia, and Egypt.
Source: https://www.prnewswire.com/in/news-releases/mindsdb-raises-16-5m-from-benchmark-to-put-machine-learning-into-more-applications-301740799.html