DataRobot Said to Reach $2.5 Billion-Plus Value in Funding Round

Machine learning startup DataRobot is in advanced discussions to raise roughly $300 million in a funding round led by Altimeter Capital Management that values the company at more than $2.5 billion, according to people familiar with the matter.

The funding will more than double DataRobot’s valuation. The Boston-based company last raised $206 million in a 2019 round that valued it at $1.3 billion, according to PitchBook. With the fresh funds, it would have raised more than $700 million.

T. Rowe Price Group Inc. and Silver Lake Waterman, a growth fund that’s part of private equity firm Silver Lake, are set ...