NYC-based data management software provider Dataiku announced Thursday that it raised $400 million in fresh funding. The Series E was led by top investment firm Tiger Global while an impressive list of returning investors, including ICONIQ Growth and Snowflake Ventures, also participated. Prominent new investors including Insight Partners and Olivier Pomel, the CEO of Datadog, also participated in the round.
At the center of Dataiku is what the company calls “Everyday AI” — technology that helps teams across an entire organization manage and understand their data so they can better handle everything from fraud detection to supply chain optimization. Typically, leveraging data in this way requires the expertise of a trained data scientist, but Dataiku’s AI-enabled platform is designed to be used by even non-techie employees.
“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,” Dataiku co-founder and CEO Florian Douetteau said 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.”
Built In last caught up with Dataiku about a year ago when it raised its $100 million Series D. At the time, the company had about 300 customers, employed about 450 people globally, and was experiencing strong tailwinds amid the pandemic.
“Times of economic change tend to expose companies that aren’t able to easily adapt, which is why agility in AI efforts is critical now more than ever,” Kurt Muehmel, Dataiku’s chief customer officer, told Built In last August. “While enterprise AI isn’t a magic bullet and won’t make businesses immune to the world’s changes, our product has proven invaluable to our customers, providing agility and acceleration toward their recovery.”
Since then, Dataiku has released a slew of new tools to help reduce companies’ dependency on data science teams, and launched a new product for smaller businesses in June. The company now has 450 customers worldwide, and employs more than 750 people across its NYC headquarters and offices around the world.
And this sector continues to be a thriving one. Just last week, Boston-based DataRobot raised a $300 million Series G (also led by Tiger Global), more than doubling its valuation in less than a year. In February, Databricks raised a staggering $1 billion Series G, and now boasts a valuation of $28 billion.
As for Dataiku, this latest raise brings its total valuation to $4.6 billion, and will be used to “grow into its role” as a leader in this space, according to a press release. The company also appears to be in the midst of a hiring spree, with dozens of open tech positions at its New York office alone.
