We have been following Dataiku for a few years now. Founded in 2013, the company focuses on collaboration around data-science projects and has been growing rapidly since its inception. In time, that includes the necessary rounds of investment. Today Dataiku announces the results of the Series E round, often one of the last, if not the last before an IPO. And those results are pretty impressive, with a total investment of $400 million.
A company like Dataiku plays an important role in data projects. A key reason for this is that Data Science Studio, Dataiku’s central platform, can coexist with existing data science initiatives and tools. This makes it ideally suited to integrate into an organization relatively quickly. After all, organizations don’t necessarily have to change much in their setup. In addition, all kinds of employees can work with the platform. It is certainly not just for data scientists and data analysts. The idea is that you also need to be able to work with it as a business analyst. Democratisation is therefore the motto at Dataiku.
Besides data, another important ‘trend’ plays a big role at Dataiku, namely AI. And not the overly complicated version of it for end users, but what the company itself calls ‘Everyday AI’. So here, too, it’s all about democratizing. Ultimately, the company is about providing an end-to-end platform for designing, deploying and managing AI and analytics applications. To deliver the “Everyday AI” part, Dataiku offers, among other things, pre-built components. In addition, the platform provides automation where possible. This, of course, also in order not to make things more complicated than necessary. Finally, the company also has a deployment pillar, in which issues such as governance and management play an important role. According to Dataiku, this makes it possible to deploy AI transparently, among other things.
Earlier this year we reported on a strategic investment from Snowflake, or rather Snowflake Ventures. Snowflake Ventures also contributed to the Series E round announced by Dataiku today. This was led by Tiger Global and raised $400 million in capital. Other investors include ICONIQ Growth, CapitalG, FirstMark Capital, Battery Ventures and Dawn Capital. These were already existing investors in Dataiku. New investors include Insight Partners, Eurazeo, Lightrock and Datadog CEO Olivier Pomel.
All in all, the new capital injection of $400 million means that Dataiku now has a valuation of $4.6 billion. There are currently more than 750 employees working for the company. With this kind of investment and market value, the company will still need quite a few people to keep up with its growth ambitions. As already mentioned, five investment rounds often is the point where an IPO becomes a topic of conversation. So we may well hear about that in the foreseeable future.