Open Source DevOps company Seldon, which provides enterprises with the tools to manage, serve and optimise their machine learning models, has secured a £7.1m Series A funding.

The cloud agnostic machine learning deployment specialist works in partnership with industry leaders such as Google, Red Hat, IBM and Amazon Web Services.

Its tech is designed to  help to ensure decisions made by machine learning algorithms are transparent and ethical. 

Seldon’s ML Engineering Director Alejandro Saucedo spoke to BusinessCloud in June about the ethical considerations of machine learning.

Since September 2018, the firm reports a 38% month-on-month growth. It has seen significant adoption by financial services companies since it was founded in 2014, and now counts an American stock exchange and global credit card companies including US bank Capital One as users.

The funding will be used to accelerate R&D and drive commercial expansion.

It will also take enterprise solution Seldon Deploy to market and plans to more than double the size of the team over the next 18 months.

Alex Housley, CEO and founder of Seldon said: “There’s never been a greater need to effectively deploy ML models in enterprise, and this fresh capital injection will ensure our customers have the tools they need to achieve their goals.

“We’ll be heavily investing in R&D so our users and the open-source community have access to cutting-edge intelligent software applications that will unlock the power of machine learning.

“As we enter a new decade the importance of explainable AI and robust monitoring tools cannot be overstated, and we’re excited to welcome Albion and Cambridge Innovation Capital as new partners as we scale our international operations”