New York-based AI firm Dataiku secures $200 million in its Series F
New York-based artificial intelligence (AI) firm Dataiku has raised $200 million in its Series F funding round led by a new backer, Wellington Management, at a revised valuation of $3.7 billion.
Dataiku, a tool provider for building AI software, was valued at $4.6 million when the startup raised $400 million in its Series E funding round last August.
We’re pleased to announce Dataiku’s $200M Series F, led by Wellington Management. From our $3.7B valuation to our 1,000+ amazing Dataikers, we have a lot to be grateful for this year— but especially our strong momentum to make #EverydayAI a reality. 🚀 https://t.co/wmEGT04Qnf pic.twitter.com/X1weRUIIXH
— Dataiku (@dataiku) December 13, 2022
The Series F investment brings Dataiku’s total primary funding since inception to approximately $600 million, strengthening its leadership position and accelerating platform capabilities.
According to a recent regulatory filing, Dataiku could raise an additional $75 million in its latest funding round.
With $600 million in funding, the startup is already one of the most well-funded players in the AI tooling market.
Matt Witheiler, Consumer and Technology Sector Lead, Wellington Management, said, “Dataiku has taken a leadership position helping enterprises put massive datasets to work at unprecedented speed and creating a culture of AI focused on delivering compounding business results.”
Dataiku’s technology enables businesses to deploy AI and machine learning for a variety of applications
Dataiku, a 2013 startup headquartered in New York, is a software platform businesses use to create AI applications.
The platform also makes processes like introducing additional neural networks into production simpler. Both technical and nontechnical users can utilize it because of its accessibility features.
“Enterprises overwhelmingly understand that now is the time to embrace AI — or risk falling behind,” said Dataiku co-founder and Chief Executive Officer Florian Douetteau.
“Our ability to attract new, market-leading investors, like Wellington, in this challenging environment underscores the strength of our solutions, our world-class team, and the tremendous opportunities ahead,” added Florian.
The company achieved $150 million in annual recurring revenue in 2022, increased its customer base to over 500, including more than 150 of the largest businesses in the world, and garnered multiple accolades from the industry.
It is frequently impossible to use business data in its original form once a corporation processes it as part of an AI initiative. It could, for instance, have redundant records that make analysis challenging.
Businesses must develop unique software procedures to transform their business data into a format that can be processed.
Dataiku includes a utility in its platform that allows users to prepare data without writing code. The program allows users to eliminate redundant company documents and make other adjustments that facilitate analysis.
Dataiku is the platform for Everyday AI, enabling data experts and domain experts to work together to build AI into their daily operations.