French startup MyDataModels provides automated machine learning for small datasets, enabling domain experts with limited or no programming or machine learning skills to build and run their own predictive models. Based in Valbonne and founded in 2018, the startup has just raised a €1 million seed funding round from Earlybird, which it will use to accelerate the development of its new cloud-based SaaS solution and further develop business growth.
While tools for predicting events based on big data are still mostly geared towards programmers and data scientists, small datasets are much more numerous within organisations than datasets with millions of rows. To utilise small data at scale, domain experts need to be able to run predictive analytics for their projects independently.
With several corporations already using the desktop version, MyDataModels is now launching its SaaS version.
“While we see multiple solutions for data scientists and big datasets, there is huge untapped potential for predictive models based on small datasets created by a mainstream of users with little to no data science knowledge,” explained Hendrik Brandis, Partner at Earlybird. “MyDataModels addresses this enormous opportunity with its innovative solution led by a team of experienced repeat entrepreneurs.”
To make machine learning accessible to a wide range of people, MyDataModels enables users of its platform to build and run accurate predictive models with a ‘one-click data-in model-out’ service. Positioned as a fully automated small data machine learning solution, the company is addressing a rapidly growing market. The solution targets domain experts at SMEs as well as research institutes.
“We believe that making machine learning accessible to everyone is now the true innovation in machine learning, rather than simply increasing the productivity of data experts via data science studios and workbenches,” said Simon Gazikian, CEO & co-founder of MyDataModels. “Besides, Big Data is only the visible part of the ‘data iceberg’. Small Data is the largest and hidden part and represents more than 80% of enterprise data. Having Earlybird on board with us will allow MyDataModels to speed up adoption of our breakthrough automated machine learning software platform.”