Data Science Investment Counter —Funding raised by UK data science companies in 2018.
£ 5.640 Million

Tara AI raises $10m to speed-up software development

Artificial intelligence platform Tara AI has raised a $10 million Series A investment led by Aspect Ventures with participation from Slack and previous investors such as Y Combinator and Moment Ventures.

Tara AI uses machine learning to help organisations with software development’s efficiency. With this new funding the firm, which grew its team from eight to 16 in the past few months, plans to double again in the next quarter. The company’s founding team is mainly composed of Google and Apple engineers.

“Today’s enterprise organizations are constantly searching for ways to optimize the software development lifecycle”, said Iba Masood, co-founder and CEO of Tara AI.

“Today, the process of scoping is a completely manual process, wasting time and capital on enterprises’ most critical software deliverables.

“IT departments lack talent transparency to appropriately assign development resources for product owners where it is mission critical to match the right skill set for your most challenging and time-sensitive projects”, she added.

Tara.ai  aims to improve this cumbersome process by taking the data that enterprise companies already have thanks to their project management systems and workforce directories, and use it to predict how to best build the software, from the length of a project to the people best suited to execute it.

“Tara AI leverages machine learning to help enterprise organizations scope, allocate resources and build cutting-edge software products, enabling product teams to be on-time, on-budget and on-roadmap”, Masood explained.

The company’s clients include Cisco, Orange Silicon Valley and Mower Digital. According to data from Tara AI, their technology has already ingested millions of data objects from publicly available data, and is growing at a rate of 20 per cent.

In terms of return on investment, Tara.ai said they have saved product teams at least 40 per cent of their initial scoping time in their product development. In some cases, teams have doubled their production efficiency due to quicker team allocation with Tara AI’s resource suggestions.

Ultimately, Masood said, Tara’s goal is “to build a system of decision making that helps product teams become more productive as they use the platform.”

“Today we’re helping teams understand the different pathways certain features and software can be built. In the near future, we aim to become a central part of the SPM process where teams and leadership come together to keep track of their software product lines, make key decisions and maintain a streamlined process.”

Image via PXhere.

SHARE THIS ARTICLE:
BY SHACK15

Co-working space and blog dedicated to all things data science.

Subscribe to our newsletter