KNIME, a leader in open-source data science and AI, has secured an additional $30 million from longtime investor Invus, bringing the total Series B funding to $50 million. This investment will drive KNIME’s efforts to advance its enterprise-grade AI governance and ModelOps capabilities, positioning the company to meet the burgeoning demand for sophisticated data science tools.
Michael Berthold, Co-founder and CEO of KNIME, emphasized the strategic importance of this funding: “Given the tremendous traction in our market, this additional capital allows us to accelerate the innovation of our end-to-end data science and AI platform. Our mission is to harness the latest developments in the field to drive data-driven innovation for our community.”
KNIME has experienced significant growth since 2017, with annual revenues reaching €30 million and a user base of nearly half a million. The company serves a diverse range of industries, including major players like ASML, Audi, and P&G. KNIME’s commitment to innovation is further evidenced by its recent ISO 27001 certification, affirming its dedication to data security.
The latest funding will enable KNIME to enhance both its KNIME Analytics Platform and KNIME Business Hub. The Analytics Platform will benefit from cloud-readiness, an updated UX/UI, and the introduction of K-AI, an AI assistant designed to streamline user experience. The KNIME Business Hub will see a complete overhaul to improve automation, collaboration, and governance of AI models. Additionally, the company has introduced a new SaaS offering, the Team Plan for KNIME Community Hub, designed to support small organizations with flexible, pay-as-you-go automation solutions.
Mario Kaloustian, Managing Director at Invus, commented on the investment: “KNIME’s approach to accelerating data science and AI adoption through robust governance and ModelOps solutions is exactly what modern enterprises need. We are proud to continue our support of KNIME as it leads the way in transforming data science practices.”
Editorial Perspective:
KNIME’s strategic investment and its advancements in AI governance and ModelOps signify a critical evolution in the data science landscape. The company’s open-source model and recent innovations position it as a key player in democratizing access to sophisticated data tools, enabling enterprises to enhance their data capabilities while managing associated risks effectively.
The significant growth and widespread adoption of KNIME’s platform reflect its pivotal role in the data science community. By addressing the challenges of AI governance and model management, KNIME is not only enhancing its market position but also setting new standards for how organizations leverage data to drive innovation.
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