H2O.ai Closes $100 Million in Series E Funding Led by Commonwealth Bank of Australia Company is now valued at $1.7 billion with rapid adoption of H2O AI Cloud

By Shrabona Ghosh

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur Asia Pacific, an international franchise of Entrepreneur Media.

H2O.ai

H2O.ai, an AI cloud company, on Monday announced it has closed $100 million in Series E funding led by Australia's largest bank, Commonwealth Bank of Australia (CBA).

H2O.ai has raised over $250 million and is valued at $1.7 billion, the company said in a statement.

Pivot Investment Partners joined prior investors Goldman Sachs Asset Management and Crane Venture Partners, said the statement, adding existing investors included customers and partners such as Wells Fargo, New York Life and NVIDIA.

The capital will be used to scale partnerships, sales, marketing and customer success globally.

"H2O.ai is picking winners in every vertical on every continent and making them AI superpowers to take on the tech giants. Our innovative maker culture and customer obsession have won.Our customers have led every growth funding round at H2O.ai," said Sri Ambati, founder and CEO H2O.ai.

"This strategic partnership between the leading global AI cloud movement and Australia's largest bank will unleash the juggernaut of co-innovation and will further democratize AI with trust and freedom. This will be fun," Ambati added.

Matt Comyn, CEO, Commonwealth Bank of Australia said, "Commonwealth Bank processes and makes decisions based on millions of data points collected every day. AI already has helped us to improve our customer experience, however, we know there is untapped potential to do more. The investment and strategic partnership with H2O.ai extends our leadership in artificial intelligence and ultimately boosts the bank's ability to offer leading digital propositions and reimagine products and services to customers."

Launched in January 2021, the H2O AI Cloud brings all of H2O.ai's products together on a single, unified platform. Designed to support H2O.ai's core mission of democratising AI, the H2O AI Cloud simplifies the process by making responsible AI that users can trust, operating it efficiently and innovating with pre-built AI applications.

Shrabona Ghosh

Senior Correspondent

I write on corporates and lead a project called 'Corporate Innovations', wherein I cover large enterprises across technology, auto, FMCG and avaition. I engage in CEO dialogues and run my podcast series The Big Bosses. You can reach out to me at gshrabona@entrepreneurindia.com
Career

Why Entrepreneur Stands Against the PRO Act

The Protecting the Right to Organize Act could do lasting harm to the small-business and franchise community.

Side Hustle

I Took My Side Hustle Full-Time and Made $222,000 Last Year. Here's How — and Why Sometimes I Work Just 10 Hours a Week.

Carter Osborne launched his side business in 2017 to help with his tuition payments for graduate school.

Business News

The CEO of the World's Most Valuable Company Says This Would Be His College Major in 2025

Nvidia CEO Jensen Huang graduated with a Bachelor's degree in electrical engineering from Oregon State University in 1984, but he would change that major if he were in college today.

Career

What Lawmakers Don't Understand About the PRO Act, According to Franchise Owners

Lawmakers are confused about what franchising is, and are threatening the whole business model with a bad bill, experts say.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.