Peltarion
Creates real-world AI applications – at scale and at speed with the first operational AI platform from Peltarion.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor | €0.0 | round |
| investor | €0.0 | round | |
| investor | €0.0 | round | |
| investor | €0.0 | round | |
| investor investor investor investor | €0.0 | round | |
* | N/A | Acquisition | |
| Total Funding | 000k | ||
| EUR | 2016 | 2017 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | (92 %) | 1613 % | - | 279 % | 21 % | 195 % | (60 %) |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | - | - | (2101 %) | (426 %) | (367 %) | (38 %) | 8 % |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Company filings or news article
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Peltarion, founded in Stockholm in 2004 by Luka Crnkovic-Friis and Måns Erlandsson, began as a specialized artificial intelligence consultancy. For its first dozen years, the firm provided services to high-profile clients like NASA, Tesla, and General Electric, assisting them in the application of neural networks. In 2016, the company pivoted from bespoke projects to developing a scalable, cloud-based operational AI platform. This strategic shift was aimed at making deep learning technology more accessible and affordable for a broader range of enterprises, non-profits, and governments.
The company's core offering was the Peltarion Platform, a low-code, end-to-end environment that enabled users to build, train, deploy, and manage deep learning models. The platform was designed to streamline the entire workflow, from data preprocessing to putting models into production, featuring a graphical user interface to simplify development. This allowed organizations, even those without extensive data science expertise, to create and implement custom AI solutions. Use cases for the platform were diverse, including applications to help doctors segment cancer tumors and to assist farmers in optimizing crop yields.
After its pivot, Peltarion secured significant funding, including a Series A round in 2019 that brought its total investment to €30 million and valued the company at an estimated $110 million. This supported the company's growth to a team of 70 and its mission to democratize AI. In a significant milestone, Peltarion was acquired in June 2022 by King, the mobile game developer known for Candy Crush. Following the acquisition, the Peltarion platform was shut down on September 30, 2022, as its technology and team were integrated into King to enhance game design, development, and live operations through AI. Founders Luka Crnkovic-Friis and Måns Erlandsson joined King's leadership team to spearhead its AI and machine learning initiatives.
Keywords: AI platform, deep learning, machine learning operations, MLOps, neural networks, low-code AI, no-code AI, data science, AI consultancy, visual development, AI deployment, King acquisition, operational AI, Luka Crnkovic-Friis, Måns Erlandsson, Stockholm AI, AI for gaming, cloud AI, model training, data processing