Despite the chilly reception workplace chat software maker Slack has received as a public company, investors are continuing to funnel large sums of money into other software market segments, like artificial intelligence and open source software, as evidenced by two new late-stage funding rounds.
DataRobot, which automates the process of creating machine learning models, announced a $206 million Series E round led by Sapphire Ventures that values the company at more than $1 billion. GitLab, which lets software developers collaborate on projects, announced a $268 million Series E round led by Goldman Sachs and Iconiq, at a $2.75 billion valuation.
GitLab investors may be hoping for an exit similar to that of GitHub, its main competitor, which Microsoft acquired last July for $7.5 billion. DataRobot is going head-to-head with companies like Google and Microsoft in services that let companies use AI without hiring data scientists—which could position it for a steady stream of future business.