Noodle.ai, a noted provider of enterprise artificial intelligence applications, announced in an official statement that they have raised $35 million in a Series B funding round, bringing their fundraising total to $51 million. The company will use the new funds to expand their suite of applications, which help key industries predict the future and make better business decisions.
Dell Technologies Capital led the round and was joined by previous investor TPG Growth, the middle market and growth equity investment platform of TPG, which incubated Noodle.ai with Stephen Pratt in 2016. Noodle.ai also announced that Scott Darling, president of Dell Technologies Capital, will join the company’s Board of Directors.
“We are proud to announce that Dell Technology Capital and TPG Growth have invested $35 million in our Series B funding round, and we’d like you to join our movement: let’s eradicate bad decisions, once and for all. We’ll be using that money to build out more applications in manufacturing, CPG, and transportation and logistics. I am incredibly proud of our global team of Noodlers and what they have accomplished in such a short time. We can’t wait to see what they will do in the years to come,” said Noodle.ai CEO Stephen Pratt.
Proud to celebrate Series B round for @noodleAI. Using AI for good to reduce waste in business. More: https://t.co/ttJAy33t5D
— Stephen Pratt (@noodleCEO) June 26, 2018
Noodle.ai’s applications predict key variables in demand and supply so that large companies can make more accurate decisions. Through advanced data science, high-performance computing, and guidance from a roster of talented AI experts, the company has created a dozen industry-focussed applications that generate better predictions and substantial revenue lift.
“We funded the Noodle.ai team from the start and are excited to continue our support; they are delivering much more quickly on their initial vision–to help companies harness the power of connectivity and advanced data science–than we expected. This is an experienced team in an area where there is a clear need, as their early market acceptance demonstrates,” said Nehal Raj of TPG Growth.
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