Dataiku’s Collaborative AI Platform Attracts New Investors
Dataiku, the enterprise AI platform vendor, again made the case this week its collaborative approach to data science is gaining enterprise adherents, announcing a $100 million funding round.
The Series D funding round announced Monday (Aug. 24) was led by Stripes, the growth equity firm heavily focused on software developers. New York-based Dataiku said Tiger Global Management also made a “major investment.” Existing investors include Battery Ventures, CapitalG, Dawn Capital, FirstMark Capital and ICONIQ.
According to the web site Crunchbase.com, the latest cash infusion raises Dataiku’s venture total to more than $246 million.
“In a global business market rocked by the changes 2020 has brought, AI has proven to be a critical element of organizational success driving business growth in every major vertical market,” said Florian Douetteau, Dataiku’s co-founder and CEO.
Founded in 2013, Dataiku was recently listed among the market leaders by industry tracker Gartner, largely on the strength of its collaboration tools aimed at data scientists and data engineers as well as citizen data crunchers. The company’s Data Science Studio software includes a range of interfaces aimed at different skill levels, including a notebook-style interface that is touted as a productivity tool across the spectrum of experience.
Gartner also cited Dataiku’s data governance prowess and compliance with data regulations in ranking it among the market leaders, along with Alteryx, SAS, Databricks and Tibco Software.
Noting the level of competition, Gartner variously described the booming data science market in its spring 2020 survey as “beyond healthy” and “thrillingly innovative.”
Founded to address a “fragmented data science ecosystem,” Dataiku has promoted its collaboration platform to achieve goals such as trusted AI. In a recent survey commissioned by the company, 57 percent of respondents acknowledged uncertainty as to how machine learning projects were being used and whether they were being applied responsibly. Thirty-five percent said they were working to ensure ethical use of enterprise AI projects.
“Trust in AI projects will continue to present significant challenges if we are still tackling fundamental issues such as data quality, as well as more complex problems associated with ethics,” added CEO Douetteau.
Dataiku’s more than 300 customers include the French banking group BNP Paribas, GE Aviation, Schlumberger, personal care specialist Sephora and Unilever.