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AI And Machine Learning Company Dataiku Raises $400M
The funding round, including an investment from Snowflake Ventures, boosts the company’s valuation past $4 billion.
AI and machine learning platform developer Dataiku has raised $400 million in a Series E funding round that brings the company’s total financing to $646.8 million and puts its pre-money valuation at $4.6 billion.
Dataiku, founded in 2013 and based in New York, said the company will apply the new funding to expanding the company’s employee roster and accelerating its “mission to systematize the use of data and AI” by its customers.
The funding round was led by Tiger Global with participation from existing investors ICONIQ Growth, CapitalG, FirstMark Capital, Battery Ventures, Snowflake Ventures and Dawn Capital. New investors included Insight Partners, Eurazeo, Lightrock and Datadog CEO Oliver Pomel.
The Dataiku platform is used by data scientists and data engineers to design, deploy and manage AI and analytical applications. The company’s software is applied in a wide range of use cases including fraud detection, customer churn prevention, predictive maintenance and supply chain optimization.
The company currently has more than 450 customers – up more than 50 percent year over year – including Unilever, Pfizer, Cisco Systems, Merck and Schlumberger.
“Organizations that use Dataiku elevate their people – whether technical and working in code, or on the business side and low- or no-code – to extraordinary, arming them with the ability to make better day-to-day decisions with data,” said Florian Douetteau, Dataiku co-founder and CEO, in a statement. “This latest round of funding is a proof point that everyday AI is the future, and we’re excited to help many more companies realize its benefits.”
Dataiku currently has 750 employees in its New York, Paris, London, Munich, Sydney and Singapore offices.
The company works with a range of go-to-market partners including analytics consultants like BlueShift and Keyrus, and solution providers such as Accenture, Axis Group and Deloitte.
Dataiku has a close relationship with data cloud giant Snowflake. In addition to an earlier investment from Snowflake Ventures in April and again in this latest funding round, Snowflake in June recognized Dataiku as its Data Science Partner of the Year.
“Snowflake and Dataiku share a vision to simplify and strengthen data science workflows and unlock the power of advanced analytics for businesses everywhere,” said Stefan Williams of Snowflake Ventures, in a statement. “As a trusted partner, we’ve deployed joint solutions to dozens of shared customers, and we’re proud to be quite literally invested in their future success through Snowflake Ventures.”
“We’ve seen that executing an AI strategy, in which data is a part of day-to-day operations, can have large-scale impact for organizations across sectors and sizes, and Dataiku is well-positioned to continue to help the enterprise realize this potential value given both the strength of their technology and the team,” said John Curtius, a partner at Tiger Global, in a statement. “We’re excited to be a part of their mission to systematize data and AI through our continued investment.”