Abacus.AI announces Series B funding of $22M and Abacus.AI Deconstructed, a set of stand-alone modules that help organizations deploy AI models in production
SAN FRANCISCO, Nov. 18, 2020 /PRNewswire/ -- Abacus.AI is announcing $22M in Series B funding led by Coatue. Decibel Ventures and Index Partners also participated in this round. As part of this release, the company is announcing Abacus.AI Deconstructed, which is a suite of 3 stand-alone tools that can be used by organizations to bring AI models to production.
Series B funding
Mike Volpi from Index Ventures and Jon Sakoda from Decibel also participated in this round. "We are excited to continue to invest in Abacus.AI and support their mission to democratize AI and make state-of-the-art deep learning systems available in a plug and play fashion to organizations of all sizes," said Volpi.
"Every executive can imagine how AI can be used in our business operations, but few have been able to capitalize on its benefits because of the cost and technical resources required. Abacus is working to democratize AI by offering a turnkey solution for the most widely needed use cases, and brings the promise of deep learning into any application without complexity or cost," said Sakoda.
Model Hosting and Monitoring - Organizations can easily host their models in production with this module. This module helps teams deploy, maintain and govern them all in one place that will assist with the messy issues of production operations. Monitoring models for drift is essential for maintaining ML models in predictions and knowing when to trigger re-training runs. This module alerts production teams when models experience prediction and data drifts.
Model Explainability and DeBiasing - One of the biggest barriers to AI adoption is the black-box nature of model predictions. With this module, organizations get explanations for each of their predictions and can dig into why a particular prediction is unexpected or counterintuitive. The beauty of the Abacus.AI service is that it helps organizations easily determine if there is bias based on age, gender, or race in the AI model and applies debiasing techniques that they have previously open-sourced. The debiasing module is based on a research paper that Abacus.AI will be presenting at this year's NeurIPs conference.
Real-time machine learning feature store - This service allows organizations to easily create, store and share machine learning features and deploy real-time machine learning and deep learning models models in production. By creating and maintaining integrity across both online and offline features and checking pointing dataset and feature versions, it is easy for organizations to deploy real-time machine and deep learning systems into production.
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