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Announced

Completed

Commonwealth Bank of Australia led a $100m Series E funding round in H2O.ai.

Financials

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Transaction Value£74m
Consideration TypeCash
Capital Owned-
Capital Bid For-
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Friendly

United States

Single Bidder

Private

Auto Technology

artificial intelligence

Minority

Cross Border

Acquisition

Completed

Synopsis

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Commonwealth Bank of Australia, an Australian multinational bank, led a $100m Series E funding round in H2O.ai, an AI cloud platform. Additional investors include Goldman Sachs Asset Management, Crane Venture Partners, Wells Fargo, New York Life and NVIDIA. "H2O.ai will also help us to better predict bills and forecast cash flows for both retail and business customers so they can plan ahead. Customers want to be in control, and through the combination of our award winning app, powered by artificial intelligence, we can deliver products and services in the moment to manage unexpected expenses or irregular incomes," Andrew McMullan, CBA Chief Data & Analytics Officer.

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