Petuum closes USD15m in Series A funding

Petuum, Inc. has closed USD15 million in Series A funding led by Advantech Capital, with additional investors Tencent, Northern Light Venture Capital and Oriza Ventures, the company said.

Petuum is building a next generation Omni-Mount AI/ML platform for deep learning (e.g., CNN/RNN), predictive analytics (e.g., regression), knowledge extraction (e.g., topic models), content summarization (e.g., sparse coding), ensemble methods (e.g., gradient boosted trees), for a wide range of applications such as natural language processing, image and video understanding, and anomaly detection in transaction data.

Petuum will process and integrate data like social media, consumer profiles, electronic health records, sensor logs from IoT devices, transaction logs from financial systems, and machine logs from manufacturing equipment. In addition to serving as a general AI/ML development platform, it´s also an AI/ML computing management and operating system, and an enterprise AI/ML system solution.

Petuum, Inc. is building a platform that serves the full spectrum of Artificial Intelligence and Machine Learning algorithms and applications. Its product enables enterprises to build practical AI/ML deployments for the real world.