Noodle.ai, which provides enterprise AI applications, has raised $35 million in a Series B funding round, bringing its fundraising total to $51 million. The funds will be used to expand the company’s suite of applications, which help key industries predict the future and make better business decisions.
“Even after two decades of decision support software and ERP implementations, you see the results of bad business decisions every day: empty store shelves, wasted energy, packages that don’t arrive on time, labor forces over or under worked, even factories closing. It’s high time that changed,” said Noodle.ai CEO Steve Pratt. “Learning algorithms are now practical and affordable, so there’s no reason not to use them to make better decisions.”
XOJET – the on-demand private aviation platform – uses Noodle.ai’s Pricing AI and Logistics AI modules to combine internal & external demand patterns, competitor data, weather, local events and other data points to improve pricing, reduce deadhead and save fuel.
Dell Technologies Capital and TPG Growth are early supporters of Noodle.ai, and have continued that support with this latest round of funding.
“Artificial Intelligence is one of the biggest technology shifts to happen to the IT industry since the Internet,” said Scott Darling, president, Dell Technologies Capital. “Organizations across the globe are looking to large companies like Dell Technologies, as well as startups such as Noodle.ai, to deliver innovative, flexible and affordable solutions that help them fully utilize this breakthrough technology and bring machine learning and intelligence to their IT infrastructure.”
“We funded the Noodle.ai team from the start and are excited to continue our support; they are delivering much more quickly on their initial vision–to help companies harness the power of connectivity and advanced data science–than we expected. This is an experienced team in an area where there is a clear need, as their early market acceptance demonstrates,” said Nehal Raj of TPG Growth.