DataCebo Secures $8.5 Million in Funding to Enhance Developer Productivity through Generative AI
DataCebo announced today the launch of SDV Enterprise, a commercial version of its popular open-source product, Synthetic Data Vault (SDV). The company also revealed that it has successfully raised $8.5 million in seed funding, co-led by Link Ventures and Zetta Venture Partners, with participation from Uncorrelated Ventures. The funds will be utilized to further develop the product and establish a dedicated go-to-market team.
The introduction of SDV Enterprise aims to empower developers by enabling them to effortlessly construct, deploy, and manage advanced generative AI models for enterprise-grade applications, particularly when access to real data is limited or unavailable.
One of the standout features of SDV Enterprise is its ability to generate synthetic data that closely mirrors the statistical characteristics of original data. This allows developers to effectively test applications and train robust machine learning models. Currently in beta with the Global 2000, SDV Enterprise meets the demand of large organizations that require synthetic data for approximately 500 to 2000 applications, up to 12 times per year.
SDV, the foundation of SDV Enterprise, was originally created by DataCebo’s co-founders, Kalyan Veeramachaneni (CEO) and Neha Patki (vice president of product), at MIT’s Data to AI Lab. SDV enables developers to build proof-of-concept generative AI models for small tabular and relational datasets with simple schemas, allowing for the generation of synthetic data. The open-source product has been downloaded over a million times and enjoys an extensive community of users within the synthetic data space. DataCebo was established in 2020 with the mission of leveraging generative AI to revolutionize enterprise developer productivity.
SDV Enterprise takes the capabilities of SDV to the next level by providing teams with synthetic data that is 1000 times faster and 10 times higher in quality. Key features of SDV Enterprise include scalability, enabling developers to train generative AI models using large datasets and complex schemas with hundreds of interconnected tables. Furthermore, the models offer deep data understanding, allowing for the comprehension of real-world data concepts at a fundamental level. Developers can also fine-tune the generative AI model stack using low-code APIs, integrate a variety of data formats, manage multiple synthetic data applications, and update generative AI models as applications evolve.
Various industry experts have expressed their support and enthusiasm for DataCebo’s offerings. Wim Blommaert, the product owner of AI-powered synthetic data generation at ING Belgium, hailed SDV Enterprise for its ability to generate synthetic data within hours, significantly reducing the time and effort previously spent by developers. Kevin Petrie, the vice president of research at Eckerson Group, highlighted the importance of synthetic data in reducing bias and privacy risks that often arise in real-world data. He commended DataCebo for providing data teams with rapid and accurate generative AI solutions.
DataCebo’s CEO, Kalyan Veeramachaneni, emphasized the criticality of on-prem generative models for enterprises, enabling them to work with proprietary and specific data. He highlighted the cost-effectiveness of SDV Enterprise, as it eliminates the need for massive hardware investments, and empowers businesses to train generative models on a single machine.
Link Ventures co-founder and managing partner, Dave Blundin, expressed his confidence in DataCebo, acknowledging their leadership in generative modeling for complex enterprise data. He applauded DataCebo’s ability to pioneer and set standards within the synthetic data industry.
With the successful funding and the launch of SDV Enterprise, DataCebo is set to propel the field of generative AI for synthetic data forward. Their innovative solutions are anticipated to enhance developer productivity, reduce bias, and unlock new possibilities for enterprises across various sectors. With its immense potential, DataCebo aims to make a lasting impact on the evolution and adoption of AI-powered technology in the business world.
