SAN FRANCISCO — Skymind, an open-core data science company, has secured $11.5 million dollars in Series A financing.
TransLink Capital led the round with participation from ServiceNow, Sumitomo’s Presidio Ventures, UpHonest Capital, and DCode with GovTech Fund. Early investors Y Combinator, Tencent, Mandra Capital, Hemi Ventures, and GMO Ventures, also joined the round. To date, Skymind has raised $17.9 million in funding.
Skymind’s technology enables enterprises to build high-performance, predictive AI stacks. Specifically, the Skymind Intelligence Layer (SKIL) brings machine learning to a company’s big data stack and computing resources, whether that data and computing power is on-premise, in the cloud, or in a hybrid environment or on edge devices like mobile phones, drones, autonomous vehicles and healthcare sensors.
“AI and machine learning are no longer on the enterprise wish list, they are a ‘must have’ as successful companies embrace the automation, predictive analytics and efficiency that AI provides,” said Chris Nicholson, Skymind’s founding CEO. “From the beginning, we have focused on creating an AI framework that will sustain companies for years to come, covering everything from data pipelines to algorithm training to model lifecycle management. Today’s financing is a validation of our approach and technology.”
Skymind will use its Series A funds to fuel customer acquisition, building out its sales teams in North America and Asia. Skymind currently has more than 40 employees and more than 20 enterprise customers, including Softbank and France Telecom’s Orange.
As part of the new financing, Toshiya Otani, co-founder and managing director of TransLink Capital, will join the Skymind board of directors.