Dataiku Raises $28M Series B to Help Democratize Data Science, Analytics
NEW YORK, Sept. 6, 2017 — Dataiku Inc., the maker of Dataiku Data Science Studio (DSS) – one of industry’s leading enterprise, end-to-end advanced analytics and collaborative data science tools – has today announced a $28M series B funding round led by Battery Ventures and supported by FirstMark, Serena Capital and Alven. Coming off of strong global growth so far in 2017, the company plans to double its team and accelerate marketing efforts globally while further strengthening their platform with new integrations and technologies.
Dataiku comes at a time when there is an incredible growing demand to maximize in-house data production and analysis. As reflected by their growth and profitability since their founding, Dataiku has anticipated this demand with their unique enterprise platform designed for the increased productivity and collaboration of data scientists, programmers, and analysts within and across organizations.
“Data science is no longer a niche subsector of analytics like it was 20 years ago,” said Neeraj Agrawal, general partner at Battery Ventures. “It has become mission-critical to all types of businesses. The problem is that there are still a limited number of people with true technical, data science capabilities. Our work over the last year has led us to conclude that Dataiku’s approach is the right one for many enterprises in the market: The DSS product enables technical data scientists to work alongside data analysts to help build and deploy models into productions. We feel that a platform that allows users of different skill sets to work together is the future of data science products.”
Founded in Europe in 2014, the company has grown into a global brand synonymous with driving innovation through cutting-edge data science and machine learning technologies. The Dataiku platform combines these technologies with collaborative features that allow anyone in an organization to contribute to the data science production process. By effectively ‘democratizing data science’ it enables each team member, from coders to analysts, to contribute to the data production and analysis process using the tools they know best.
Today, hundreds of companies around the world, from Fortune 500s to SMBs, including L’Oreal, NPR, AXA, Kuka, and many others, use Dataiku on a daily basis to create, build, and deliver data products efficiently.
“Our driving philosophy at Dataiku is the idea that everyone should be able to contribute or gather insight from data science,” said Florian Douetteau, CEO of Dataiku. “We adhere to this because, in today’s world, we know that the most competitive data-driven organizations are the ones that make the most of all of their data, and the most effective way to do this is to empower people to use the tools they know best. This is why we strive to deliver the best possible platform for collaboration that also combines the most advanced data science and machine learning technologies.”
“We are truly honored to be partnered with Battery Ventures. They have an incredible track record of guiding companies onto the global stage. We are thrilled that they have recognized our past successes and the potential our technology has in the years ahead.”
With this latest funding round, Dataiku plans to hire 100 new team members in the upcoming months, substantially increase global marketing efforts, and accelerate the development of new features and integrations within their platform. Dataiku is looking mostly for profiles that demonstrate above average analytical as well as customer facing communication skills. As the company consistently strives to build a stimulating work environment where learning, working, and playing collide, it hopes to attract curious people that want to discover, learn, and have a lasting impact on the global data ecosystem. With existing offices in Paris and London, the company’s brand new Downtown New York City headquarters were recently featured on Fox 5 NY and Forbes.
Earlier this year, Dataiku was named a “Visionary” in Gartner’s 2017 Magic Quadrant for Data Science Platforms. Not long after announcing their expansion into the UK, Dataiku was named “Enterprise Startup of the Year” at the Techies 2017this February in London.
The company previously raised a $14M series A round, led by FirstMark Capital and previous investors, in October of 2016. “At FirstMark, we are proud to be a part of Dataiku’s growth into a disruptive force in analytics,” explains Matt Turk, Managing Director. “Leveraging data science and machine learning is evolving from a novelty to a must-have for enterprises, and Dataiku allows them to leverage their data and produce cutting-edge data products that keep them a step ahead of the competition.”
To learn more visit: www.dataiku.com
Dataiku develops Dataiku Data Science Studio, the unique advanced analytics software solution that enables companies to build and deliver their own data products more efficiently. Thanks to a collaborative and team-based user interface for data scientists and beginner analysts, to a unified framework for both development and deployment of data projects, and to immediate access to all the features and tools required to design data products from scratch, users can easily apply machine learning and data science techniques to all types, sizes, and formats of raw data to build and deploy predictive data flows.
Hundreds of customers in industries ranging from e-commerce, to industrial factories, to finance, to insurance, to healthcare, and pharmaceuticals use DSS on a daily basis to collaboratively build predictive dataflows to detect fraud, reduce churn, optimize internal logistics, predict future maintenance issues, and more. Learn more at: www.dataiku.com
About Battery Ventures
Battery strives to invest in cutting-edge, category-defining businesses in markets including software and services, Web infrastructure, consumer Internet, mobile and industrial technologies. Founded in 1983, the firm backs companies at stages ranging from seed to private equity and invests globally from offices in Boston, the San Francisco Bay Area, Tel Aviv and London. Follow the firm on Twitter @BatteryVentures, visit our website at www.battery.com and find a full list of Battery’s portfolio companies here.