Logical Clocks, the Swedish company behind Hopsworks Feature Store with an end-to-end machine learning platform, has raised €5 million Series A investment round, led by Industrifonden with participation from Inventure, for expansion of the company’s commercial operations and footprint, particularly in the US market.
“Too many companies working with AI struggle with disconnected teams and poor data quality that prevent or delay the development of AI applications. Hopsworks Feature Store manages data for AI, making it simpler, faster, and cheaper to move models to production. We’ve built the platform on the principle of being open, allowing teams to use their tools, cloud, and data center of choice. We are happy to partner with experienced investors that see the same opportunities as us,” comments Jim Dowling, CEO and Co-founder at Logical Clocks.
Hopsworks provides a centralized machine learning platform with the most advanced and complete Feature Store enabling organizations to manage models with low latency access to data spanning the whole organization. With Hopsworks, companies can easily deploy real-time calculated data, govern models with refined data provenance, and increase effectiveness and collaboration across data and ML teams. Hopworks is already running in production at companies like PaddyPower-Betfair, Getinge, and Swedbank.
“We identified Hopsworks’ potential three years ago when the feature store space was undeveloped, and we are thrilled to witness the company’s technological development and business growth. Artificial Intelligence is a blossoming sector and Hopsworks stands out as the most advanced and highest performance Feature Store available today,” says Timo Tirkkonen, co-founder and partner of Inventure.