Congratulations to Wallaroo on its $25M Series A
by Lacey Wisdom and Nihal Mehta
Our portfolio company Wallaroo just announced that it has raised $25 million in Series A funding. The round was led by Microsoft’s venture fund M12, and Eniac was thrilled to participate.
CEO Vid Jain founded Wallaroo in 2017, after nine years at Merrill Lynch, followed by a startup where he tried to build analytics applications for large banks — in both roles, he saw many of the challenges faced by teams deploying machine learning models to improve business outcomes.
Wallaroo (in case you’re wondering, it’s named after an animal that’s somewhere between a kangaroo and a wallaby in size) tackles these challenges head-on, making it simple for data scientists and machine learning engineers to deploy ML models. Its enterprise platform (with self-serve tools) delivers ultra-fast data analysis for customers and reduces their infrastructure costs by up to 80% — running within a customer’s own cloud, on-premise, or edge environment.
We first invested in Wallaroo in 2018, when we led the $5 million seed round. Since then, we’ve been impressed not just by the quality of Wallaroo’s technology, but also by the grit and determination that Vid has shown in getting the company to this point. As he notes today, Wallaroo’s platform is currently being used in sectors ranging from real estate to manufacturing to the U.S. military. (Check out Vid’s blog post for more about how he plans to spend the money.)
The MLOps market is expanding rapidly, as companies search for ways to promote efficiency through automation and by better leveraging their data. We believe Wallaroo will be at the forefront of that shift.
