Arize AI Raises $38 Million Series B To Scale Machine Learning Observability Platform
Summary
TCV led the round with participation from existing investors Battery Ventures, Foundation Capital, and Swift Ventures.The investment is the largest-ever in a machine learning observability platform and comes at an important inflection point for the industry. This is especially true as the industry embraces computer vision and natural language processing models that are notoriously difficult to troubleshoot since they rely on unstructured data and manual labeling by humans.Launched in 2020, Arizes ML observability platform is already counted on by a growing list of enterprises and disruptive technology companies including Uber, Spotify, Ebay, Instacart, Chime, Neustar, Nextdoor, New York Life, Stitch Fix, and more to track hundreds of billions of predictions per month. Were excited to work with Arize AI to enhance platform ML observability capabilities and make it easier to detect and resolve model performance issues. ""Arizes platform finally makes it easy for ML engineers to scalably detect data and drift issues, troubleshoot what happened, and improve overall model performance" says Morgan Gerlak, Partner at TCV. ""As the pace of innovation in AI accelerates, its more important than ever for organizations to have machine learning observability in place to surface potential problems and improve ML models in production," says Dharmesh Thakker, a general partner with Battery Ventures.