- Multi-million-dollar strategic investment brings TruEra’s total funding to date to over USD 45 million.
- ML teams use TruEra’s solution to explain, evaluate and test the performance, risk, and responsible AI characteristics of models in the development phase.
TruEra, which offers the first suite of AI Quality management solutions for managing model performance, explainability, and societal effect, disclosed that Hewlett Packard Enterprise had invested in TruEra through its venture capital program, Hewlett Packard Pathfinder. This extends the USD 25M Series B round TruEra announced in March this year.
Hewlett Packard Pathfinder invests in market-leading start-ups, develops solutions fusing portfolio companies’ technology with Hewlett Packard Enterprise products, and designs collaborative go-to-market strategies. Hewlett Packard Pathfinder also keeps a close eye on longer-term disruptive innovation, supporting technological developments that keep HPE on edge.
“We’re excited to become an investor and partner with TruEra in developing comprehensive solutions for our enterprise customers in conjunction with our High-Performance Computing offering,” said Paul Glaser, Vice President and Head of Hewlett Packard Pathfinder.
“AI model quality and ML Ops have emerged as considerable challenges for enterprises deploying and scaling machine learning models,” said Ali Wasti, Managing Director, Hewlett Packard Pathfinder. “Solving these challenges is imperative for AI success, and TruEra stands out for its deep expertise, differentiated technology and practical experience helping companies deliver and monitor AI applications.”
The next big challenge in AI, the quality challenge, is what TruEra aims to address. ML teams use TruEra’s solution to explain, evaluate and test the performance, risk, and responsible AI characteristics of models in the development phase. It then helps them keep track of their live use to ensure rapid debugging and optimal ongoing performance.
Numerous Fortune businesses have chosen TruEra as their preferred provider because of its distinctive, whole lifecycle approach to model quality. Members of the corporation are on the advisory boards for the Bank of England and the Monetary Authority of Singapore, among other Government agencies as well.
“Hewlett Packard Enterprise is a trusted provider to the enterprise and is known for its capability to ensure that cutting-edge innovation delivers proven results,” TruEra CEO and co-founder Will Uppington said in a media advisory. “We’re looking forward to working closely with the HPE team as partners on customer engagements.”
To date, TruEra has raised more than USD 45 MM. Investors include Menlo Ventures, Greylock Partners, and Wing Venture Capital, among other investors.
With its investment in TruEra, how does HPE intend to innovate in this market?
“HPE customers are rapidly adopting AI initiatives and are excited about the value that they are already seeing,” Wasti said. “Getting AI model quality and MLops right are key to deploying and scaling machine learning models that capture the full potential of an AI-based solution. TruEra stands out for its deep expertise, differentiated technology, and practical experience, helping companies deliver and monitor AI applications.”
HPE has been recently expanding its AI product portfolio. The IT behemoth offers the following in addition to the new cooperation with TruEra:
- HPE Ezmeral MLOps, an MLops solution that enables customers to operationalize the machine learning lifecycle and speed up workloads by allowing users to design, train, and deploy models with speed and agility.
- HPE InfoSight, the most cutting-edge AI for infrastructure in the market, gives users a cloud operational experience in managing apps and data from the edge to cloud.
- The acquisition of DeterminedAI by HPE in 2021, will enable machine learning developers to accelerate the time to production for AI by combining Determined AI’s cutting-edge open-source AI training platform with HPE’s high-performance computing solutions.