Zurich-based KNIME, a leader in open-source data science and AI, has announced a significant funding milestone. On August 6, the company revealed that it has raised $30 million (approximately €27.5 million) from its long-term investor Invus. This investment boosts Invus’s total commitment to KNIME to around $50 million (approximately €45.7 million).
This latest injection of capital will be pivotal for KNIME as it accelerates the development of its enterprise-grade AI governance and ModelOps capabilities. “With our open-source community, we can provide KNIME users intuitive access to a wealth of state-of-the-art techniques,” stated Michael Berthold, co-founder and CEO of KNIME.
KNIME’s core offering, the KNIME Analytics Platform, provides a powerful, open-source solution enabling users from various backgrounds to work with data effectively. The platform includes K-AI, an AI assistant that supports users in initiating and enhancing their data projects. KNIME Hub further facilitates automation, collaboration, and insight sharing across organizations.
Since its inception, KNIME has witnessed robust growth, expanding its revenue to €30 million with a growth rate of 30-40% annually. Serving nearly 400 customers worldwide, including major corporations like Audi, Novartis, and Mercedes-Benz, KNIME continues to be a vital player in the data science and AI landscape. Recent achievements, such as the ISO 27001 certification, underscore KNIME’s commitment to data security and operational excellence.
Michael Berthold, CEO of KINME, expressed enthusiasm about the new funding, noting, “Given the traction we’re experiencing in a booming market, we decided to take on additional funding to meet the growing demand for our end-to-end data science and AI platform. This is an incredible opportunity to drive forward data-driven innovation for our community, leveraging the rapid advancements in the field.”
Mario Kaloustian, Managing Director at Invus, highlighted the strategic significance of this investment: “KNIME’s approach facilitates widespread adoption of data science and AI while maintaining centralized governance and ModelOps capabilities. This model addresses the critical question of how to accelerate innovation with GenAI while managing associated risks. Invus is proud to continue its support for KNIME.”
Editorial Insight
KNIME’s recent funding round marks a significant milestone in the company’s journey, underscoring its role as a transformative force in data science and AI. The additional capital will enable KNIME to enhance its AI governance and ModelOps capabilities, which are crucial for enterprises navigating the complexities of modern data landscapes.
The company’s commitment to open-source solutions and user-friendly tools positions it uniquely in the market. KNIME’s ability to cater to a diverse range of industries and organizations highlights its versatility and the growing need for accessible, scalable data science tools. As data continues to drive decision-making across sectors, KNIME’s platform is set to play a central role in enabling organizations to leverage their data effectively and securely.
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