Petuum, Inc Selected to the 2017 AI 100, Highlighting Advancements in Building efficient, hardware-general, scalable and standardized AI and ML development platforms for enterprises
Santa Barbara, CA, January 11, 2017 — CB Insights today selected Petuum, Inc to the prestigious Artificial Intelligence 100 list (“AI 100”), a select group of emerging private companies working on ground breaking artificial intelligence technology. CB Insights CEO and co-founder, Anand Sanwal, revealed the winners during The Innovation Summit, a gathering of top executives and investors to explore the industries of the future.
“Most AI and ML solutions are hand-crafted black boxes. Petuum aims to allow companies to create AI/ML solutions that are correct, fast, scalable, and consume minimal computing resources, by using standardized building blocks and methods that are transparent and repeatable.” Said Dr. Eric Xing, CEO and co-founder of Petuum, Inc.
The CB Insights research team selected the AI 100 winners based on a combination of data submitted by the companies, responses to interview questions and the company’s Mosaic Score. Mosaic is an algorithm built with funding from the National Science Foundation that gives predictive intelligence into the health of private companies.
“From financial services to healthcare to transport, incumbent companies in every industry are seeing that AI will reshape their industries. And as so often happens, transformational innovation comes from emerging companies. In the case of AI, a lot of the groundbreaking work is being done by the AI 100. The companies in the AI 100 are accelerating research, improving efficiency, and making many game-changing advancements that will be felt for decades to come,” CB Insights CEO Anand Sanwal said.
Quick facts on the AI 100:
- In total, these 100 emerging private companies have raised $3.8B across 263 deals since 2012, according to CB Insights.
- Applications of their technology include breakthroughs in healthcare, drug discovery, business intelligence, gaming, manufacturing, and much more.
- More than 1,650 companies were nominated or applied for the AI 100 (only 6% were selected).
- Data Collective has backed 14 of the AI 100 companies, while NEA backed 8 and Bloomberg Beta backed 7.
- There have been 9 mega-rounds (funding rounds of $100M or more) to AI 100 companies since 2014.
- Five AI 100 companies have reached a valuation of $1B or more (also known as unicorn status).
- 11 countries are represented among the winners.
About Petuum Inc
Based in Pittsburgh, Pennsylvania, we are a deep technology company building efficient, fast and scalable AI/ML solutions for enterprises. We are building an enterprise Artificial Intelligence and Machine Learning software development platform to support a wide range of applications, such as natural language processing, image and video understanding, and anomaly detection in transaction data.
About CB Insights
CB Insights team comes to work every day to build technology that helps corporations guess less and win more. CB Insights aggregate and analyze massive amounts of data and use machine learning, algorithms and data visualization to help corporations replace the three Gs (Google searches, gut instinct and guys with MBAs*) so they can answer massive strategic questions using probability not punditry.
With backing from the National Science Foundation and venture capital investors, CB Insights mine terabytes of data and knowledge contained in patents, venture capital financings, M&A transactions, hiring, startup and investor websites, news sentiment, social media chatter, and more. CB Insights’s software algorithmically analyzes this data to help their clients see where the world is going tomorrow, today.
About The Innovation Summit
From voice and chat interfaces to AI replacing investment managers and doctors to the new revenue models enabled by the Industrial Internet of Things, the Innovation Summit marries CB Insights’ emerging trend research with the thinking of the world’s smartest minds – leading VCs, economists, researchers and corporate strategists.
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