Arrikto, a startup that wants to speed up the machine learning development lifecycle by allowing engineers and data scientists to treat data like code, is coming out of stealth today and announcing a $10 million Series A round. The round was led by Unusual Ventures, with Unusual’s John Vrionis joining the board.
“Our technology at Arrikto helps companies overcome the complexities of implementing and managing machine learning applications,” Arrikto CEO and co-founder Constantinos Venetsanopoulos explained. “We make it super easy to set up end-to-end machine learning pipelines. More specifically, we make it easy to build, train, deploy ML models into production using Kubernetes and intelligent intelligently manage all the data around it.”
Like so many developer-centric platforms today, Arrikto is all about “shift left.” Currently, the team argues, machine learning teams and developer teams don’t speak the same language and use different tools to build models and to put them into production.
“Much like DevOps shifted deployment left, to developers in the software development life cycle, Arrikto shifts deployment left to data scientists in the machine learning life cycle,” Venetsanopoulos explained.
Arrikto also aims to reduce the technical barriers that still make implementing machine learning so difficult for most enterprises. Venetsanopoulos noted that just like Kubernetes showed businesses what a simple and scalable infrastructure could look like, Arrikto can show them what a simpler ML production pipeline can look like — and do so in a Kubernetes-native way.
At the core of Arrikto is Kubeflow, the Google -incubated open-source machine learning toolkit for Kubernetes — and in many ways, you can think of Arrikto as offering an enterprise-ready version of Kubeflow. Among other projects, the team also built MiniKF to run Kubeflow on a laptop and uses Kale, which lets engineers build Kubeflow pipelines from their JupyterLab notebooks.
As Venetsanopoulos noted, Arrikto’s technology does three things: it simplifies deploying and managing Kubeflow, allows data scientists to manage it using the tools they already know, and it creates a portable environment for data science that enables data versioning and data sharing across teams and clouds.
While Arrikto has stayed off the radar since it launched out of Athens, Greece in 2015, the founding team of Venetsanopoulos and CTO Vangelis Koukis already managed to get a number of large enterprises to adopt its platform. Arrikto currently has more than 100 customers and, while the company isn’t allowed to name any of them just yet, Venetsanopoulos said they include one of the largest oil and gas companies, for example.
And while you may not think of Athens as a startup hub, Venetsanopoulos argues that this is changing and there is a lot of talent there (though the company is also using the funding to build out its sales and marketing team in Silicon Valley). “There’s top-notch talent from top-notch universities that’s still untapped. It’s like we have an unfair advantage,” he said.
“More than 50% of our founders still are in their current jobs,” said John Vrionis, co-founder of seed-stage fund Unusual Ventures.
The fund, which closed a $400 million investment vehicle in November 2019, has noticed that more and more startup employees are thinking about entrepreneurship as the pandemic has shown how much room there is for new innovation. To gain a competitive advantage, Unusual is investing small checks into founders before they’re full-time.
Unusual, which cuts an average of eight checks per year into seed-stage companies, isn’t doling out millions to every employee who decides to leave Stripe. The firm is conservative with its spending and takes a more focused approach, often embedding a member from the firm into a portfolio company. It’s not meant to scale to dozens of portfolio companies a year, but instead requires a methodical approach.
One with a healthy pipeline of companies to choose from.
In an Extra Crunch Live chat, Vrionis and Sarah Leary, co-founder of Nextdoor and the firm’s newest partner, said lightweight investing matters in the early days of a company.
“There were a lot of teams that needed capital to start the journey, but frankly, it would have been over burdensome if they took on $2 or $3 million,” Leary said. “[New founders] want to be in a place where they have enough money to get going but not too much money that they get locked into a ladder in terms of expectations that they’re not ready to take advantage of.” The checks that Unusual cuts in pre-seed often range between $100,000 to half a million dollars.
Leary chalks up the boom to the disruption in consumer behavior, which opens up the opportunity for new companies to win.
The Unusual Ventures team has investments spanning the consumer and enterprise space, including Robinhood, AppDynamics, Mulesoft, Winnie and more. That short list could be the basis for a fascinating chat, but I also want to hear their thoughts on the democratization of venture capital, their appetite ahead of the election and the future of remote work. A big goal of mine is to squash some of the buzzwords we hear on tech Twitter so we can get an honest take on where one VC firm is sitting right now in a chaotic year.
As we wrote last week, this year has been everything but business as usual for the venture and tech community. And we still have an election ahead of us! I’ll ask Leary and Vrionis to share their framework for working through a looming event such as a presidential election and get their ideas on how early-stage is working more broadly.
Thanks to all of you who have joined us for our ongoing live chat series, which has brought on big names in tech such as Sydney Sykes, Alexia von Tobel, Mark Cuban and more (all recordings are still accessible for Extra Crunch subscribers to watch and learn from).
If you’re new, welcome! You’ll be able to ask our experts questions live as long as you’re an EC member (sign up for Extra Crunch here).
Come hang, bring snacks and prep some good questions. We’d love to have you.
Below are links so you can make it:
This year has been everything but business as usual for the venture and tech community. And we still have a presidential election ahead of us.
So, why not listen to the aptly-named experts over at Unusual Ventures? Partners Sarah Leary (co-founder of Nextdoor) and John Vrionis, formerly of Lightspeed Ventures Partners, will join us on Tuesday, October 20 on the Extra Crunch Live virtual stage.
Thanks to all of you who have joined us for our series of live discussions that has included tech leaders like Sydney Sykes, Alexia von Tobel, Mark Cuban and many others (all recordings are still accessible for Extra Crunch subscribers to watch and learn from).
If you’re new, welcome! You’ll have a chance to participate in the live discussion if you have an Extra Crunch subscription.
Unusual Ventures’ investments span the consumer and enterprise space, including companies like Robinhood, AppDynamics, Mulesoft and Winnie.
For this chat, I plan to spend some time talking to Leary and Vrionis about how early-stage venture capital has changed with the rise of rolling funds, community funds and syndicates. Unusual Ventures claims “there’s an enormous opportunity to raise the bar on what seed-stage investors provide for early-stage founders,” so we’ll get into that opportunity as well.
And if we have time, we’ll discuss remote work, building in public and the U.S. presidential election.
So, what are you waiting for? Add the deets to your calendar (below the jump!) and join me next Tuesday.