Gunderson Dettmer represented client H2O.ai, an open-source machine learning automation platform, in its $100 million Series E financing led by the Commercial Bank of Australia bringing the company’s valuation to $1.6 billion. H2O.ai will use the new capital to invest in the development of new functionality products and growth of the number of employees.

In the announcement of the transaction, founder and CEO of H2O.ai Sri Ambati said, “Our open source platform gives freedom and ability for customers to build their own AI centers of competence and excellence. We are like the Tenzing Sherpas of the AI mountains helping our customers to traverse and conquer AI peaks.” 

The Gunderson deal team was led by Andy Bradley and included Aaron Fiske, Adam Lin, Hannah Porter, Micaela Cervantes, and Jamilah Mena.