H2O.ai Valuation, Funding & Investors

H2O.ai is valued at $1.7B as of November 2021.

Last H2O.ai valuation

$1.7B

Series E · Nov 2021

Last H2O.ai funding round

$100M

Series E · Nov 2021

Cumulative funding H2O.ai raised

$251M

across 8 funding rounds

Key investors in H2O.ai

H2O.ai Overview

About H2O.ai

H2O.ai is a Mountain View-headquartered AI cloud platform developer serving over half of the Fortune 500. It delivers the H2O AI Hybrid Cloud for automated machine learning, enabling rapid problem-solving in predictive analytics and business intelligence. Notable clients include AT&T, Capital One, PayPal, GlaxoSmithKline, Unilever, and Kaiser Permanente. Strategic investors such as Goldman Sachs, NVIDIA, and Wells Fargo support the company alongside partnerships in healthcare, finance, and consumer goods sectors. H2O.ai employs top Kaggle Grandmasters and maintains industry-leading Net Promoter Scores through its open-source Driverless AI and open-source tools.


Founded

2012

HQ

United StatesSan Francisco, CA

Website

h2o.ai

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Valuation

$1.7B (Nov 2021)

H2O.ai Valuation

H2O.ai is currently valued at $1.7B, based on its Series E in November 2021.

The $100M round was led by CommBank, with participation from New York Life Insurance, NVIDIA, Cohen Circle, Goldman Sachs, Goldman Sachs Asset Management and 4 other investors.

H2O.ai's valuation has grown 283x from $6M at its seed round in May 2013 to $1.7B in November 2021, across 2 priced rounds.

H2O.ai valuation by funding round

H2O.ai valuation by funding round
DateStageValuation
Nov 2021Series E$1.7B
May 2013Seed$6M

H2O.ai Funding History

H2O.ai has raised a total of $251M across 8 funding rounds.

H2O.ai's first fundraising round was a $2M seed round in January 2013. The most recent completed round was a $100M Series E in November 2021.

H2O.ai funding rounds

H2O.ai funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Nov 2021Series ECommBank (lead); New York Life Insurance; NVIDIA; Cohen Circle; Goldman Sachs; Goldman Sachs Asset Management; Wells Fargo; Pivot Investment Partners; Crane Venture Partners; Celesta Capital$100M$1.7BH2O.ai, a Silicon Valley-based AI company founded in 2011 by Sri Ambati and Cliff Click, develops an open-source machine learning platform and proprietary apps, including the H2O AI Hybrid Cloud, to enable enterprises, governments, nonprofits, and academics to build, operate, and innovate with AI. The platform serves over 20,000 organizations and millions of data scientists, with clients like AT&T, Citi, Capital One, GlaxoSmithKline, Hitachi, Kaiser Permanente, Procter & Gamble, PayPal, PwC, Reckitt, Unilever, and Walgreens. On November 7, 2021, H2O.ai raised $100 million in a Series E funding round led by Commonwealth Bank of Australia (CommBank), with participation from Celesta Capital, Cohen Circle, Crane Venture Partners, Goldman Sachs, Goldman Sachs Asset Management, New York Life Insurance, NVIDIA, Pivot Investment Partners, and Wells Fargo. The round valued H2O.ai at $1.7 billion post-money ($1.6 billion pre-money), bringing total funding to over $250 million across multiple rounds. CommBank, an existing customer, not only led the investment but also entered a strategic partnership to expand use of H2O.ai's software across its organization, including data scientists, engineers, and business users, to develop new AI solutions for personalized offers, bill predictions, cash flow forecasting, and sustainability initiatives like the H2O.ai Wildfire and Bushfire Challenge hackathon. Dr. Andrew McMullan, CBA’s chief data and analytics officer, joined the H2O.ai board. Proceeds from the $100 million will fuel product development, global sales and marketing, hiring, and deeper partnerships to expand the H2O AI Cloud platform. The investment underscores growing enterprise demand for accessible AI tools amid surging AI adoption beyond tech sectors. H2O.ai positions itself as enablers of AI centers of excellence, emphasizing trust, freedom, and open-source foundations to help customers conquer AI challenges.
Aug 2019Series DGoldman Sachs (lead); Ping An Global Voyager (lead); Wells Fargo; Nexus Venture Partners$73M-H2O.ai, an open source leader in artificial intelligence and automatic machine learning for enterprises, raised $72.5 million in a Series D funding round on August 20, 2019, led by Goldman Sachs and Ping An Global Voyager Fund, with participation from Wells Fargo, NVIDIA, and Nexus Venture Partners. This brought the company's total funding to $147 million. The investment aims to accelerate innovation, expand marketing and sales globally, simplify AI for business users, grow enterprise adoption, enhance AutoML capabilities, and establish AI Centers of Excellence in Chennai and Prague. Key customers include financial institutions like Goldman Sachs, Wells Fargo, Franklin Templeton, Capital One, MarketAxios, Nationwide Insurance, and others such as Aetna, Comcast, Booking.com, Commonwealth Bank of Australia, Hitachi, PwC, and Walgreens. Financial services represent about half of H2O.ai's business, with Goldman Sachs using the platform for equity trading and market making. The company partners with technology leaders including NVIDIA, IBM, AWS, Intel, Microsoft Azure, Google Cloud Platform, Snowflake, and IBM RedHat. At the time, H2O.ai had grown to 175 employees from 70 in its 2017 Series C round and tripled its customer base, with 20,000 users of its open-source products. It introduced 'recipes'—pre-built AI models for use cases like credit risk scoring, anomaly detection, and property valuation. Jade Mandel from Goldman Sachs joined the board.
Nov 2017Series CWells Fargo (lead); New York Life Insurance; Ruttenberg Gordon Investments; Barclays; Transamerica Ventures; CE Innovation Capital; Crane Venture Partners; Nexus Venture Partners$40M-H2O.ai raised a $40 million Series C round in November 2017 led by Wells Fargo and NVIDIA GPU Ventures. This brought the company's total funding since its 2012 founding to nearly $147 million as of the subsequent Series D. H2O.ai develops an automatic machine learning platform called H2O Driverless AI aimed at making AI faster, cheaper, and easier for businesses to adopt, enabling democratization of AI to compete with tech giants like Amazon, Google, and Microsoft. Customers including Aetna, Booking.com, Walgreens, and Capital One use it to lead AI transformations in their sectors, with strong traction in retail. The company expanded to 175 employees by the Series D (double from 18 months prior), opened a Center for AI Excellence in Prague, and offices in India and Canada.
Nov 2015Series BPaxion Capital Partners (lead); Capital One Ventures; Transamerica; Nexus Venture Partners$20M-H2O.ai raised a $20 million Series B funding round on November 9, 2015, led by Paxion Capital Partners with participation from Nexus Venture Partners, Transamerica, and new investor Capital One Growth Ventures, bringing total funding to $34 million. The company develops H2O, an open-source machine learning platform designed for data scientists and developers to build fast machine learning engines for applications, monetizing through support offerings. Funds were allocated to scale sales, marketing, customer success teams, expand the partner ecosystem, and enhance delivery via Steam and Sparkling Water products. By 2015, H2O.ai had signed 25 new customers that year, including AT&T, Comcast, Kaiser Permanente, Walgreens, Progressive, Transamerica Corporation, and Zurich Insurance Group, with over 5,000 organizations actively using the platform. Capital One Growth Ventures joined as an investor after initially being a customer. The platform aims to reduce time to insight, avoid proprietary stack costs and lock-in, and operationalize data science into data products and smart applications. Later rounds included a $40 million Series C in 2017 led by Wells Fargo and NVIDIA, and a $72.5 million Series D in 2019 led by Goldman Sachs and Ping An Global Voyager Fund, but a 2021 round had a reported post-money valuation of $1.7 billion per secondary market sources.
Oct 2015Series BCelesta Capital (lead)$5M--
Jul 2014Series AAsh Bhardwaj (lead); Rakesh Mathur (lead); Rajesh Ambati; SanDisk; Transamerica Ventures; Nexus Venture Partners$9M-H2O.ai is an open-source machine learning and artificial intelligence platform founded in 2012 and headquartered in Mountain View, California. The company provides tools to enable enterprises of all sizes to build and deploy AI-based services, democratizing access to advanced machine learning capabilities across industries. In July 2014, H2O.ai completed a Series A funding round raising $8.9 million. The company's investors included Ash Bhardwaj, Rakesh Mathur, Nexus Venture Partners, Transamerica Ventures, and SanDisk. By the Series C round in November 2017, the company had raised a cumulative $75 million and had achieved significant adoption, with over 100,000 data scientists, 12,400 organizations, and nearly half of the Fortune 500 using H2O.ai's suite of products. The company continued to grow and reached unicorn status by November 2021, when it raised $100 million in Series E funding at a $1.7 billion post-money valuation.
May 2013SeedNexus Venture Partners$3M$6MH2O.ai, founded in 2011 by Sri Satish Ambati and Cliff Click, develops open-source artificial intelligence and machine learning platforms for enterprises. The company raised approximately $1.72 million in a Series Seed round on April 1, 2013, led by Nexus Venture Partners, at a post-money valuation of $5.75 million. This early funding supported initial development of its AI technologies. Nexus Venture Partners has remained a key backer of H2O.ai through subsequent rounds, including Series C ($40 million in 2017 led by Wells Fargo and NVIDIA) and Series D ($72.5 million in 2019 led by Goldman Sachs and Ping An). The company's platforms serve financial services, healthcare, and other sectors, with clients like AT&T, Capital One, and PayPal.
Jan 2013SeedAnand Babu Periasamy; Nexus Venture Partners$2M--

Who has invested in H2O.ai?

24 investors have backed H2O.ai across its funding rounds, including Nexus Venture Partners, Wells Fargo, Goldman Sachs, Celesta Capital, Crane Venture Partners and Transamerica Ventures.

Lead investors include CommBank, Goldman Sachs, Ping An Global Voyager, Wells Fargo, Paxion Capital Partners and 3 other investors.


H2O.ai Investors

Investors in H2O.ai by funding rounds participated
InvestorHQRoundsRoleFirst check
Nexus Venture PartnersUnited StatesSan Francisco, CA6ParticipantJan 2013
Wells FargoUnited StatesSan Francisco, CA3LeadNov 2017
New York Life InsuranceUnited StatesNew York City, NY2ParticipantNov 2017
Goldman SachsUnited StatesNew York City, NY2LeadAug 2019
Transamerica VenturesUnited StatesNew York City, NY2ParticipantJul 2014
Crane Venture PartnersUnited KingdomLondon2ParticipantNov 2017
Celesta CapitalUnited StatesSan Francisco, CA2LeadOct 2015
Rajesh AmbatiUnited StatesSan Francisco, CA1ParticipantJul 2014
NVIDIAUnited StatesSan Jose, CA1ParticipantNov 2021
Cohen CircleUnited StatesNew York City, NY1ParticipantNov 2021
Ping An Global VoyagerHong KongHong Kong1LeadAug 2019
SanDiskUnited StatesSan Jose, CA1ParticipantJul 2014
Ruttenberg Gordon InvestmentsUnited StatesNew York City, NY1ParticipantNov 2017

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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H2O.ai Competitors

H2O.ai competitors include listed companies like TRS Information Technology and C3.ai, and private ones like Hyperscience, Axiom Math AI, Meshy AI and Odyssey.

Public and private companies comparable to H2O.ai
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
TRS Information TechnologyChinaChinaPublicly listed$76M($20M)$1.7B19.7x
C3.aiUnited StatesUnited StatesPublicly listed$250M($484M)$1.7B4.5x
HyperscienceUnited StatesNew York City, NYPrivate--$1.6B-
Axiom Math AIUnited StatesSan Francisco, CAPrivate--$1.6B-
Meshy AIUnited StatesSan Jose, CAPrivate$30M-$1.5B50.0x
OdysseyUnited StatesSan Francisco, CAPrivate--$1.4B-

H2O.ai Public Comps

H2O.ai is still privately-owned, but its public comps include Wenge AI, TRS Information Technology, C3.ai, Shenzhen Ysstech Info, PCITECH, BigBear.ai, Fractal Analytics, Arcs Co, Haizhi and Ncino.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Wenge AI$60M($20M)27.6x-(82.7x)-
TRS Information Technology$76M($20M)19.3x19.7x(73.5x)478.8x
C3.ai$250M($484M)4.3x4.5x(2.2x)(6.2x)
Shenzhen Ysstech Info$205M$4M7.2x-378.8x-
PCITECH$1.5B$53M0.8x0.9x24.1x-
BigBear.ai$128M($295M)8.3x7.6x(3.6x)(27.8x)
Fractal Analytics$344M$50M3.7x3.4x25.8x21.0x
Arcs Co$4B$185M0.2x0.2x4.8x4.9x

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Common questions about H2O.ai

When was H2O.ai founded?H2O.ai was founded in 2012.
Where is H2O.ai headquartered?H2O.ai is headquartered in San Francisco, CA, United States.
Is H2O.ai publicly listed?No, H2O.ai is a private, VC-backed company.
What is H2O.ai's valuation?H2O.ai was last valued at $1.7B in its Series E in November 2021.
How much funding has H2O.ai raised?H2O.ai has raised $251M across 8 funding rounds.
What was H2O.ai's last funding round?H2O.ai's last funding round was a $100M Series E in November 2021, led by CommBank.
Who are H2O.ai's investors?H2O.ai's investors include Nexus Venture Partners, Wells Fargo, New York Life Insurance, Goldman Sachs, Transamerica Ventures, Crane Venture Partners, Celesta Capital, Rajesh Ambati, NVIDIA, Cohen Circle and 14 others.
Which companies are comparable to H2O.ai?Companies comparable to H2O.ai include TRS Information Technology, C3.ai, Hyperscience, Axiom Math AI, Meshy AI and Odyssey.

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