Streamlit Raises $35M Series B to Fuel Machine Learning Expansion

Streamlit Secures $35 Million to Expand Machine Learning Tooling

Founded by experts in data science, Streamlit is uniquely positioned to create tools that facilitate the development of machine learning applications for businesses.

Initially launched as an open-source project, the company has now announced an expanded beta program for a new commercial service, backed by $35 million in Series B funding.

Investment Details

Sequoia spearheaded the investment round, with participation from existing investors Gradient Ventures and GGV Capital. This latest funding brings the total capital raised by Streamlit to $62 million.

Bridging the Gap Between Development and Deployment

While data scientists can utilize the open-source project to construct machine learning applications, a degree of technical proficiency is required to integrate all components effectively.

According to co-founder and CEO Adrien Treuille, the open-source tooling currently boasts 20,000 monthly active developers, and their streaming apps have garnered millions of views.

However, a segment of their user base has expressed a preference for a commercial service, as not all organizations possess the capacity to transition open-source projects into viable commercial offerings.

Introducing Streamlit for Teams

COO and co-founder Amanda Kelly explains that Streamlit for Teams is engineered to simplify the complexities associated with the open-source application.

“The challenges of app deployment, containerization, scalability, resource allocation, and secure data source connections represent a distinct skillset – one rooted in DevOps and IT,” she stated.

Streamlit for Teams automates these processes, allowing users to focus solely on application development without requiring extensive technical support for deployment.

Expanding Application Usage

Sonya Huang, a partner at Sequoia leading the firm’s investment, highlighted the company’s dedication to developers and views the new commercial offering as a catalyst for broader adoption of applications built within the open-source project.

Huang believes that “Streamlit has the potential to redefine the interaction between data teams and business users, introducing a new standard for interactive, data-driven applications.”

Current Users and Future Growth

The open-source product is already being utilized by data scientists at prominent companies such as Uber, Delta Dental, and John Deere.

With a current team of 27 employees, Streamlit intends to double its workforce in the coming year, leveraging the new funding to accelerate growth.

Commitment to Diversity

The founding team acknowledges the importance of fostering a diverse company culture.

Kelly admits that prioritizing diversity can be challenging for early-stage startups focused on survival, but the recent funding provides the opportunity to strategically build a more inclusive organization.

“We are working with a consultant to refine our understanding of diversity and integrate it into our recruiting, people management, and engineering practices, ensuring it becomes a core value within our company,” she explained.