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They started Streamlit to take data to another level by including artificial intelligence and machine learning with a goal of building predictive models in a new way.
Streamlit’s open-source app framework not only gives data scientists a super power, it is also attracting investors. Gradient Ventures and GGV Capital co-led the San Francisco-based startup’s $21 million Series A round of funding, announced Tuesday.
Also participating in the new funding were Bloomberg Beta, Elad Gil and Daniel Gross. The Series A brings Streamlit’s total funding raised to $27 million since it was founded in 2018. Gradient also led the company’s $6 million seed round in October 2018.
“When we were initially funded, Streamlit was a personal project,” CEO Treuille told Crunchbase News. “We raised a large amount of money in part because great engineers at great companies were using it and telling investors about it.”
Nine months ago the company released its platform, which has been downloaded more than 300,000 times and used to create more than 200,000 applications, he said. Users are encouraged to share their apps on Twitter. A search on that platform shows that people have used Streamlit to build machine-learning apps for myriad topics from tracking COVID-19 to clustering NBA player statistics.
Since raising its Series A, Treuille has noticed an open-source movement, with more interest coming from enterprise, as well as investors. Over the past month, we have reported on several startups tapping open source. I personally wrote about YugabyteDB’s $30 million Series B for its database and a $9 million seed round for Almanac, a platform for work documents. Meanwhile, my colleague wrote about Strapi’s $10 million Series A round for its content management system.
For Streamlit, part of this new round of funding will help drive Streamlit for Teams, a new product offering that will help enterprise companies deploy the platform quickly and easily, he added.
“Right now, they have to cobble it together, so this is going to make that easier,” Treuille said. “We have 2,500 companies already on the waitlist for this.”
The company also plans to triple its headcount from 10 in the next two years, focusing on product software, he said.
Over the next six to nine months, Streamlit plans to release some major features, such as custom components which will expand the ecosystem and give users the ability to create a free Streamlit app as long as it is freely available, Treuille said.
“We are giving data scientists a new super power,” he added. “They can take their Python scripts and repurpose data into apps so that other people in their company can use it. We are focused on taking that power and making it more powerful.”