Qwak snags $15 million round for MLOps engineering platform
Through MLOps automation, the Israeli startup accelerates companies’ processes and allows them to manage the models the moment they are integrated into their products
17:0709.02.22
Qwak, which has developed an MLOps engineering platform, announced on Wednesday that it has finalized a $15 million fundraising round led by Leaders Fund and StageOne Ventures, with participation from Amiti Ventures and world-leading operators like, Rani Wellingstein, founder of Intucell, Eugene Miropolski from Nordstar, Philippe Suchet, Tamir Carmi who co-founded ironSource and others.
Qwak team. Photo: Qwak
Qwak, which raised $4 million in its Seed round, employs 20 people, most of them out of its R&D center in Israel and the rest in San Francisco. The funds from this financing will be used to invest in product development, as well as to expand its sales and marketing departments.
Qwak team. Photo: Qwak Qwak was co-founded a year ago by Alon Lev (CEO), former VP Data at Payoneer; Yuval Fernbach (CTO), former Machine Learning Specialist at Amazon Web Services and former CTO in the IDF’s Mamram; Lior Penso (COO), former Business Development Manager at ironSource and Amazon Web Services; and Ran Romano (VP of Engineering), former Machine Learning engineering leader at Wix.com.
Qwak’s solution alleviates the bottleneck that exists between the development and data science teams. Through MLOps automation, Qwak accelerates companies’ processes and allows them to manage the models the moment they are integrated into their products. In doing so, they can increase the productivity of their engineers, release more ML-driven products, and speed up the time to innovation by enabling tighter iteration cycles. A number of world-leading companies have already adopted Qwak’s platform, including Yotpo, Guesty, Skyline AI, and JLL.
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“Companies all over the world are recognizing data science’s great value and understand they need to adopt ML to stay relevant in today’s market,” said Alon Lev, co-founder and CEO of Qwak. “We’ve seen large technology companies invest substantial resources to build out ML Engineering platforms, in the hopes of developing solutions to these challenges. These investments will only accelerate in the future as ML infiltrates all of their product offerings. Fast-growing startups, however, are still finding it difficult to build ML-based products, mostly due to the difficulties with model integration and the precious time required for this to be accomplished by supporting teams. Utilizing Qwak’s technology enables companies to expand their line of ML-based products and thereby grow their business influence and compete globally.”
