London-based machine learning startup Seldon raises €3 million

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London-based Seldon‘s open-source machine learning deployment platform makes it easier and quicker to manage, serve and optimise machine learning models at scale.

The startup has just raised a €3 million seed funding round led by Amadeus Capital Partners, along with Global Brain Corporation, Techstars, and other existing investors.

Founded in 2014, Seldon has already built a global community of loyal users. Seldon’s initial product, Seldon Core, had over 170,000 installs in 2018 and recorded 38% month-on-month growth in H2 2018. In 2019, the startup will release its new enterprise-scale software, Seldon Deploy, which enables data science specialists to move into production more easily with compliance, audit trails and approvals, advanced experiments, and model explanations.

Seldon is seeing its solution being adopted across multiple sectors including fintech and retail, supporting business-critical applications such as FX trading, churn prediction and stock optimisation.

Alex Housley, CEO and founder of Seldon, said: “Machine learning is revolutionising every industry. It has become much easier to build predictive models but deploying and managing these models in production is the limiting factor.

“The world’s most innovative businesses now face the challenge of creating robust, reproducible and compliant production workflows between disparate teams of data scientists, engineers and business leaders. Seldon and our community, customers and partners are creating the new open standard for machine learning deployment across hybrid and multi-cloud environments.”

Alex van Someren, Managing Partner at Amadeus Capital Partners, added: “There has been a lot of hype around machine learning but real-world applications are where the rubber must now hit the road. Seldon’s open standard approach can ‘democratise’ access to AI’s benefits beyond big tech companies. We’re pleased to be funding Seldon as it looks to double its team size in 2019.”