Petuum Named to CB Insights’ 2018 AI 100 List

PITTSBURGH, Dec. 12, 2017 (GLOBE NEWSWIRE) -- Petuum, Inc. , a machine learning (ML) infrastructure platform, was today named to CB Insights’ 2018 AI 100 list. This is the second consecutive year Petuum has been named to the list, which recognizes leading private companies employing artificial intelligence (AI) across a variety of fields, including auto, robotics and healthcare.

“We’re thrilled to be recognized again this year by CB Insights for our work in AI standardization and accessibility,” said Petuum Founder, CEO and Chief Scientist Dr. Eric Xing. “The breadth of categories the list covers is further proof that AI can be useful in many different industries, which is why we’re proud to be working to make AI widely accessible.”

Petuum's mission is to virtualize and standardize AI and ML programming, computing and deployment, transforming it into a simple-to-use, repeatable and everyday tool for all enterprises. The company’s platform simplifies the process of applying and integrating AI into a plug-and-play operation, accessible for a broad range of skillsets, but customizable for individual needs. By standardizing AI solutions, Petuum lowers the barrier to adoption and allows for the integration of AI into every industry.

"Last year's AI 100 enjoyed amazing success in the year since earning this recognition. Fifty-five of them went on to raise additional funding nearing $2B and five were acquired. This year's list was culled from 1,000+ applications and looks even more impressive. These are companies using artificial intelligence in industries from drug discovery and cybersecurity to robotics and legal tech. I'm happy that CB Insights is able to shine a light on the founders and companies that will revolutionize these industries and look forward to seeing what they do in 2018 and beyond," said CB Insights CEO Anand Sanwal.

Petuum recently announced a $93 billion Series B led by SoftBank, with participation from previous investor Advantech Capital. This round brought the total amount the company has raised to $108 million. The company plans to use these funds to further expand their team and propel the development of their product.

About Petuum, Inc. Petuum is a software infrastructure and ecosystem provider that enables AI for enterprise. Petuum virtualizes and standardizes AI and ML programming and computing, transforming it into a simple-to-use, repeatable and everyday tool for a wide variety of industries, including healthcare, utilities, manufacturing, telecommunications, internet and autonomous driving. The platform is hardware-agnostic and works with any programming language and any type of data. With Petuum, many AI applications and hardware can be created and managed from a single laptop or terminal, driving higher productivity, better service, lower costs and faster delivery.