San Francisco-based AI and ML framework developer platform, Streamlit, has announced that it has raised $21 million in current financing round co-led by Google’s AI-focused investment arm, Gradient Ventures, and the US-based venture capital firm, GGV Capital. The startup is planning to use these funds in the expansion of its platform and product development. It will also utilize the capital in laying the runway for the launch of its enterprise-oriented platform for Teams offering.
In 2018, Streamlit startup was founded as an app framework explicitly made for ML and Data Science teams. Streamlit co-founder, Adrien Treuille, is a former employee of Berkeley, Alphabet’s X, Carnegie Mellon, and Zoox. Adrien co-founded this startup with spearheaded Google’s Hangouts Chat ex-engineers and product managers, Thiago Teixeira and Amanda Kelly. A team that was involved with Twitter, Uber, Dropbox, and Stitch Fix, worked alongside the founders for a year to develop and launch open source Streamlit platform’s first few versions.
Streamlit has apps that are local or server-side Python scripts that run from top to bottom. Every variable is allocated as an updated widget state value. Streamlit holds on to a cache primitive that acts as a persistent data store, which allows apps to reuse information safely. As the apps are pure Python files, it also works with third-party debuggers and editors. It also seamlessly interface with Git and other source control software, including pull requests, commits, comments, and issues.
On this occasion, to a leading publishing firm, Adrien Treuille said that it has been exciting to see the Streamlit ecosystem growing since its launch late last year. Every member from software engineers to salespeople to executives could join data scientists in building apps, visualizations, and models. We are very happy to use this new capital in making Streamlit the most powerful development tool for the community.
Presently, Streamlit claims that it has built more than 200,000 apps on its platform at some of the largest companies worldwide. Using its platform, Delta Dental data scientist had developed an AI-powered app to analyzes call center traffic. For launching the app, it internally took roughly three months.
The latest investment comes after a $6 million seed round in October 2019, and it brings the startup’s total bagged amount to $25 million. The startup has a 12 member team and plans to hire more 18 members by 2021.
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