SAN FRANCISCO, Jan. 25, 2018 (GLOBE NEWSWIRE) -- Domino Data Lab, provider of the most advanced data science platform, today announced a record year of momentum reflected by employee and executive growth, customer retention and the launch of its Domino for Good social impact initiative. With triple-digit revenue growth in 2017, Domino is helping the world's most sophisticated enterprises use predictive models to run their businesses.
According to a recent study commissioned by McKinsey Global Institute1, “Early adopters [of data science and AI] are already creating competitive advantages, and the gap with the laggards looks set to grow.” Yet, “many business leaders are uncertain about what exactly AI can do for them...how to integrate them into their companies, and how to assess the return on an investment… A key challenge is finding tools that are fit for the purpose."
1 McKinsey Global Institute. Artificial Intelligence: The Next Digital Frontier?. June 2017. https://www.mckinsey.com/business-functions/mckinsey-analytics/our-insights/how-artificial-intelligence-can-deliver-real-value-to-companies
Domino helps individuals and organizations accelerate data science work and drive quantifiable impact through its platform that facilitates rapid development and deployment of predictive models, in a central place.
“While our growth is exciting and humbling, it’s indicative of a larger trend where every enterprise is investing in making data science a core capability,” said Nick Elprin, co-founder and CEO at Domino. “The Domino platform removes barriers that prevent businesses from instrumenting their everyday operations with models. The appetite we’re seeing for this kind of platform -- one that both business stakeholders and practitioners can rally around -- is amazing, and we look forward to an even bigger 2018.”
Customer Momentum
In addition to achieving triple-digit revenue growth, Domino maintained 100 percent retention of enterprise clients such as Allstate, Carnival Cruise Line and Moody’s Analytics in 2017. The increasing value customers derive from the platform is further evidenced by Domino’s recent wins with clients including Dell, 84.51o, WPP’s Mindshare, T. Rowe Price, Postmates and Survey Monkey.
Expansion of Executive Team
To continue to scale its business, Domino recruited top talent for its executive team in 2017, all with notable enterprise software and data experience. Key hires included: Vice President of Engineering Ronaldo Ama, former executive vice president of Engineering and Product at Ayasdi; Vice President of Business Operations Jeff Gray, former vice president of Business Operations at CoreOS; Vice President of Marketing Southard Jones, former vice president of Product Strategy and Marketing at Birst; and Vice President of Product Rob Seaman, former CEO of Likelihood.
Social Impact
In 2017, Domino Data Lab announced the launch of Domino for Good, a social impact initiative that provides nonprofits and students with access to its technology, mentorship and data scientists. Today, the company is announcing the next wave of that initiative by partnering with the Center for Data Science and Public Policy at University of Chicago to build the Data Science for Social Good Marketplace. The DSSG Marketplace pairs volunteer data scientists with social impact organizations, and provides them with a shared place to do data science work.
Research and Education
Through it’s newly established Research and Education division, Domino partnered with universities across the US to help drive research breakthroughs and train the next generation of data scientists. From genomics to quantitative finance, Domino has unlocked access to cutting-edge infrastructure and created a new standard of reproducibility. Teachers are “flipping the classroom,” using Domino’s collaboration functions to monitor student progress and deliver real-time instruction.
Rev | Domino Data Science Rally
To learn more about how to deliver data science as a core competency of the business, to network with other data science leaders, and to meet Domino, attend the inaugural Rev conference on May 30-31, 2018 in San Francisco: rev.dominodatalab.com.
Media Contact:
Karina Babcock, Director of Corporate Marketing
P: 860.490.0264
E: press@dominodatalab.com
About Domino Data Lab
Domino Data Lab provides the world’s most advanced data science platform, powering organizations that are using predictive models to drive their business. Companies including Allstate, Coatue, Mashable, Monsanto and startups alike use Domino to accelerate breakthrough research, increase collaboration and productivity of data scientists, and more rapidly deliver models to drive business impact. Founded in 2013 and based in San Francisco, Domino is backed by Sequoia Capital, Bloomberg Beta, and Zetta Venture Partners. To learn more, visit dominodatalab.com.
