Our portfolio company snags $3 milion!
Neptune, the data science collaboration hub, has completed a post-seed financing round of USD 3M.
The round is led by btov Partner’s Digital Tech Fund and Private Investor Network along with TDJ Pitango, Rheingau Founders and private angels, well-known data science experts including Marek Cygan, Grzegorz Świrszcz and Mateusz Malinowski.While the data science market and demand for data science experts are growing exponentially, there is not yet a standard way of doing data science projects. Most teams use tools that were designed for software engineering, even though data science workflows are very different. The result is a lack of efficiency, transparency and high-quality results. According to Gartner, 85% of data science projects fail – not least due to this lack of fit-for-purpose collaboration tools. The lack of transparency also leads to a high key person risk within the already stretched and highly competitive market for data scientists.Neptune provides the most lightweight solution that allows data scientists to track the entire experimentation process, visualize and share results and insights. It works with both Python and R, integrates with all commonly used frameworks and tools like Keras, TensorFlow, Scikit Learn, Pytorch and can be used with any cloud or own infrastructure. No matter what kind of problems a data science team is working on and what kind of workflow they may have, Neptune fits all situations with optimal flexibility, providing the common space to store results and collaborate.Knowing that data scientists across the globe are struggling with similar challenges of tracking and sharing their work results on a daily basis, the Neptune founding team set out to create a software solution that is available to everyone.The fresh capital will be used mainly for product development as Neptune’s ambitious goal is to be the best tool on the market for experiment management and collaboration in data science.Piotr Niedźwiedź, CEO & Founder of Neptune: “At this stage of the company’s development, we’re focusing on getting the product and value proposition right as we believe that data scientists are eager to get their hands on a tool that makes their daily life much easier. We want to give them the best user experience and set of features they need. This is what we are planning to focus on in the upcoming months.”Daniel Star, managing partner at TDJ Pitango Ventures: “We are encouraged by the level of enthusiasm that Neptune raised with the community of data scientists in the world. This market is rapidly evolving from individual experimentation to the underserved area of group collaboration. Neptune’s platform today provides the best set of tools for teams of machine learning developers to cooperate and achieve the best results.”