KNIME, one of the leading open-source data science and AI companies, has raised additional funding from its longstanding investor Invus. Since the last announcement, Invus invested another $30M, bringing total funding to $50M. This will allow KNIME, as the only open-source, low-code data science company on the market, to double down on development of its enterprise-grade AI governance and ModelOps capabilities, while continuing to stay ahead of the rapid innovation in the field.
Since 2017, KNIME has grown revenue to €30M, at 30-40% per year and is now serving nearly 400 customers with a team of 250 employees worldwide. The KNIME user base includes nearly half a million people, making it the largest low-code data science community in the world. As a truly horizontal platform, KNIME counts customers across all industries and regions, enabling companies such as ASML, Audi, AMD, Lilly, Novartis, Bayer, Sanofi, Genentech, the FDA, P&G, Mercedes-Benz, and others. KNIME has recently achieved ISO 27001 certification, meeting the highest global information security standards for enterprises and evidencing KNIME's commitment to protecting the data of its users.
The company's open-source approach removes virtually all barriers to entry, while keeping the platform adaptive to the needs of a market that is evolving at unprecedented speed. "With our open-source community, we are able to provide KNIME users intuitive access to a wealth of state-of-the-art techniques," says Michael Berthold, co-founder and CEO of KNIME. Mario Kaloustian, Managing Director at Invus adds: "KNIME enables fast, widespread data science and AI adoption, with centralized governance and ModelOps capabilities. This model answers the key question for the C-suite of every company: How do we accelerate innovation with GenAI while managing associated risks? Invus has proudly accompanied KNIME since 2017 and is thrilled to continue doing so."
The investment comes at a pivotal moment as organizations face mounting pressure to minimize the risks associated with GenAI, while maximizing its impact. The comprehensive revamp of both core components of the KNIME offering answers this need. KNIME Analytics Platform is now cloud- and browser-ready and benefits from a new UX/UI, speeding up the learning curve for beginners and improving productivity for advanced users. KNIME Analytics Platform also includes K-AI, an AI assistant that helps users get started or add advanced functionality to their data projects. The commercial enterprise-grade KNIME Business Hub has been re-engineered from the ground up as well, to facilitate automation, collaboration, deployment, and governance of analytical and AI models. Additionally, KNIME introduced a SaaS offering, the Team Plan for KNIME Community Hub, enabling small organizations to automate their workflows with a flexible pay-as-you-go plan.
"Given the traction we're experiencing in a booming market, we decided to take on additional funding to answer the growing demand for our end-to-end data science and AI platform. This is an incredible opportunity to accelerate data-driven innovation for our community, leveraging the drastic developments happening in the field," says Berthold.
About KNIME
KNIME is the leading open-source data science and AI platform, with 400 customers and nearly half a million users. KNIME helps everybody make sense of data. Its free and open-source KNIME Analytics Platform enables anyone whether they come from a business, technical or data background to intuitively work with data, every day. KNIME Hub is the commercial complement to KNIME Analytics Platform and enables users to automate workflows, collaborate on data science and AI projects, and share insights across the organization. Collectively, the products allow teams at all levels of analytics readiness to support the operationalization of data and to build a scalable data science and AI practice. Learn more at www.knime.com.
About Invus
Founded in 1985, Invus makes equity investments in transformational opportunities in both private and public companies. The firm is active across a range of industries including consumer and retail, technology, and healthcare. Invus has over $10 billion under management in an evergreen structure enabling a long-term horizon with offices in New York, Paris, Hong Kong and Singapore. Learn more at www.invus.com.
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Contacts:
Marissa Pasillas
Walker Sands for KNIME
knime@walkersands.com
