# Comet ML

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/comet-ml

- Industry: Software
- Headquarters: New York, US
- Website: www.comet.ml
- Total disclosed funding: $65M
- Latest round: Series B (Nov 18, 2021)
- Investors on record: 9

## About

Comet ML Inc. provides a robust model evaluation platform to streamline machine learning application development and deployment, enabling teams to enhance their AI-driven projects with advanced management and monitoring tools.Comet ML Inc. specializes in machine learning lifecycle management, helping organizations to optimize their data science workflows. Founded in 2017, the company is headquartered in New York, US. The founders, Gideon Mendels and Nimrod Lahav, have a background in technology and entrepreneurship. Comet has successfully raised a total of USD 50.00 mn through its latest funding round, a Series B, led by OpenView Venture Partners, with contributions from Scale Venture Partners, Trilogy International Partners, and Two Sigma Ventures. This funding round, finalized on November 18, 2021, capped the total amount raised by the company at USD 50.00 mn while positioning its current valuation at USD 281.80 mn.Comet offers a comprehensive end-to-end model evaluation platform designed to enhance the development and deployment of machine learning applications, particularly in AI and agentic systems. The core product suite consists of tools for experiment management, model registry, production monitoring, and LLM evaluation. These offerings enable users to automate prompt engineering, conduct LLM tuning, and perform application-level unit testing, thereby ensuring consistent performance across various stages of development and production. The platform allows data scientists and machine learning practitioners to log their iterations in a centralized system, track data drift, and set custom alerts for performance degradation. Comet serves a diverse client base, including innovative enterprises in sectors that require high-performance machine learning solutions. Its customer reach spans multiple geographical markets, including but not limited to North America, Europe, and Asia, reflecting the global demand for robust AI applications.Revenue generation for Comet is primarily structured around subscription-based models, where clients pay for access to various features of the platform. The company offers tiered pricing plans that cater to different organizational needs, enabling users to select a package that aligns with their scale and complexity of machine learning projects. These plans encompass a range of services, including model versioning and monitoring, experiment tracking, and automated LLM evaluation. The transaction structure typically involves businesses entering into agreements directly with Comet for ongoing access to its tools and services, with the potential for additional customizations based on specific client requirements. As a result, Comet effectively positions itself as a vital partner for data-driven organizations looking to optimize their machine learning workflows.In November 2021, Comet ML Inc. raised USD 50.00 mn in Series B funding, led by OpenView Venture Partners, aimed at accelerating machine learning-driven business outcomes and advancing data science capabilities. The company plans to leverage this funding to enhance its platform with new features and capabilities tailored to emerging market needs. Future growth strategies include launching innovative products designed to further streamline machine learning processes and expanding into new markets, specifically targeting regions in Asia and Europe by the end of 2023. These initiatives are expected to create new opportunities for Comet, helping to solidify its position in the competitive landscape of machine learning solutions.

## Funding rounds

- Series B, Nov 18, 2021, $50M — Scale Venture Partners, Trilogy International Partners, OpenView, Two Sigma Investments
- Series A, Apr 8, 2021, $13M — Scale Venture Partners, Trilogy International Partners, Two Sigma Investments
- Seed, Apr 5, 2018, $2.3M — Trilogy International Partners, Two Sigma Investments, Founders' Co-op, Techstars, Union Bay Partners, Fathom Capital
- Seed, Jul 17, 2017 — Techstars, Amazon

## Investors

- Techstars (https://capitalatlas.ai/funds/techstars) — Seed
- Amazon (https://capitalatlas.ai/funds/amazon) — Seed
- Trilogy International Partners (https://capitalatlas.ai/funds/trilogy-international-partners) — Seed, Series A, Series B
- Two Sigma Investments (https://capitalatlas.ai/funds/two-sigma-investments) — Seed, Series A, Series B
- Founders' Co-op (https://capitalatlas.ai/funds/founders-co-op) — Seed
- Union Bay Partners (https://capitalatlas.ai/funds/union-bay-partners) — Seed
- Fathom Capital (https://capitalatlas.ai/funds/fathom-capital) — Seed
- Scale Venture Partners (https://capitalatlas.ai/funds/scale-venture-partners) — Series A, Series B
- OpenView (https://capitalatlas.ai/funds/openview) — Series B