Arize AI raises $38M to scale machine learning observability platform

Arize AI raised $38 million in Series B funding. TCV led the round with participation from existing investors Battery Ventures, Foundation Capital and Swift Ventures.

The investment is the largest ever in a machine learning observability platform and comes at a significant inflection point for the industry.

Machine learning models are now deployed in almost every sector of the economy, with companies investing billions to turn artificial intelligence (AI) and machine learning (ML) into a competitive advantage.

Despite a decade of investment in data infrastructure and the pre-production ML toolchain, most companies still lack visibility into the performance of their ML models in production and run the risk of models affecting benefits or act unfairly.

This is especially true as the industry embraces computer vision and natural language processing models that are difficult to troubleshoot because they rely on unstructured data and manual labeling by humans.

Launched in 2020, Arize’s ML observability platform already boasts a growing list of disruptive tech companies and companies – including Uber, Spotify, Ebay, Instacart, Chime, Neustar, Nextdoor, New York Life, Stitch Fix , etc. – to follow hundreds of billions of predictions per month.

Arize enables ML engineering teams to streamline troubleshooting efforts with purpose-built workflows and analytics for model performance management, drift detection, data quality checks, and model validation.

Arize also allows users to save models with structured and unstructured data to the platform for monitoring.

“Michaelangelo is Uber’s end-to-end ML platform that powers 100% business-critical ML use cases at Uber to deliver a consistent user experience across billions of rides and deliveries,” declared Kai WangProduct Lead, Uber AI Platform.

“Given the vital role that ML plays in this process, it’s critical to have tools that build on Michalangelo’s core capabilities and help us stay ahead of potential ML issues in production. We are excited to work with Arize AI to improve the observability capabilities of the ML platform and make it easier to detect and fix model performance issues,” Wang continued.

“Arize’s platform finally allows ML engineers to scalably detect data and drift issues, troubleshoot what went wrong, and improve overall model performance,” says Morgan GerlakPartner at TCV.

“As in other areas of observability, the end user really matters – and we were impressed with Arize’s ability to create a practical solution that ML engineers love,” said Gerlak.

“As the pace of innovation in AI accelerates, it is more important than ever for organizations to have machine learning observability to detect potential issues and improve ML models in production” , declares Dharmesh Thakkera general partner of Battery Ventures.

“Over the past year, Arize has become one of the hottest companies in this space – the platform of choice for many top-tier ML teams. We are proud to expand our investment and partnership with Arize as it pushes new frontiers,” continued Thakker.

“Speaking of observability, I’ve watched Arize grow since its inception,” says Ashu Garg, General Partner of Foundation Capital, “and I’m delighted with how far the company has come. Its product is well ahead of the competition and is being deployed by top AI companies, all of which recognize the seriousness of the problem. In two short years, Arize has become the leading company in its category.

“The reality is that if you don’t inject AI into every major business decision, you’re going to be left behind,” notes Brett Wilsonco-founder and general partner of Swift Ventures.

“Establishing machine learning observability to monitor patterns and anticipate potential issues is a big challenge, especially in a tough economic environment. Arize is the category leader in this space and pushes it to new frontiers,” continued Wilson.

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