Dataiku, an AI development startup, announced it has secured a $200 million funding round that values the startup at over $2 billion.
The funding round was led by venture capital firm Insight Partners and supported by established investors, including Battery Ventures, Dawn Capital, and FirstMark. The funds will enable Dataiku to continue its expansion into new areas and build on its existing product offerings.
This includes further investment into the company’s cloud platform Data Science Studio (DSS), which provides an end-to-end machine learning and analytics development environment for data scientists, analysts, and engineers. It currently has more than one million users across various industries.
Dataiku plans to use the funding to expand its presence in the US, Europe, and Asia-Pacific. As part of this effort, Dataiku intends to open new offices in Zurich and Tokyo as well as strengthen its existing locations in France and the US. The company also plans to build out its partner network by expanding relationships with cloud providers and analytic platform vendors.
In a press release, Dataiku CEO Florian Douetteau stated that the company will use the new resources to “further democratize AI” by providing an open-source platform for data teams to develop models faster and more efficiently. “Enterprises overwhelmingly understand that now is the time to embrace AI — or risk falling behind”, he said.
With this latest investment, Dataiku is poised to become one of the world’s leaders in AI development and data automation solutions. By leveraging its enterprise-grade toolset, Dataiku hopes to help companies of all sizes accelerate the deployment of AI models in production.
Dataiku also plans to accelerate the development of its open-source initiatives, such as MLOps-focused KubeFlow, Data Science Automation platform Seldon, and Kubernetes Cluster Orchestrator Kube Flow Pipelines.
These projects are designed to help users build enhanced machine learning models faster with the support of open-source software and the cloud.