KNIME, a Zurich-based open-source data science and AI company, has secured an additional $30 million (approximately €27.5 million) from its long-term investor Invus. This funding round amplifies the total investment by Invus in KNIME to roughly $50 million (approximately €45.7 million). The new capital will be used to enhance KNIME’s enterprise-level AI governance and ModelOps capabilities, aiming to accelerate innovation in data science and artificial intelligence fields. Michael Berthold, KNIME’s co-founder and CEO, highlighted the importance of their open-source community in providing users with access to the latest techniques in data science.
Recent historical data indicates that KNIME has been growing its revenue by 30-40% annually since 2017, reaching €30 million by the latest reports. The Swiss company has expanded its customer base to nearly 400 clients and built a team of 250 employees globally. These figures underscore KNIME’s steady growth and the increasing demand for its data science and AI solutions. The announcement of this recent funding aligns with the company’s ongoing efforts to strengthen its market position and technological capabilities.
KNIME’s Analytics Platform, which is available for free and as open-source software, enables users from various backgrounds to work with data seamlessly. The platform includes K-AI, an AI assistant designed to help users initiate or enhance their data projects. Additionally, KNIME Hub allows for the automation of workflows, collaboration on data science projects, and sharing insights within organizations. These features collectively support data operationalization and the building of scalable data science practices.
Enterprise-Grade AI and ModelOps
The latest funding will primarily focus on expanding the company’s enterprise-grade AI governance and ModelOps capabilities. This development aims to help organizations manage their AI models more effectively while ensuring compliance and reducing associated risks. The company’s products are designed to support teams at all analytics readiness levels, facilitating the operationalization of data and fostering a scalable AI practice.
Committed Investors and Future Prospects
Invus, with $10 billion under management, is known for its investments in transformational opportunities across various industries, including technology and healthcare. Mario Kaloustian, Managing Director at Invus, emphasized KNIME’s role in accelerating the adoption of data science and AI while ensuring centralized governance. Invus has been a steadfast partner of KNIME since 2017, and this continued funding demonstrates their confidence in the company’s potential to drive data-driven innovation.
KNIME’s efforts have also been recognized through their recent ISO 27001 certification, which underscores their commitment to maintaining high standards of information security for their users. This certification further validates the company’s dedication to protecting user data, a crucial aspect in the data science and AI fields. The introduction of the Team Plan for KNIME Community Hub, a SaaS offering, also highlights the company’s focus on making data science accessible to smaller organizations with a flexible pay-as-you-go model.
The sustained growth and recent achievements of KNIME indicate strong market traction and a promising future. By leveraging the new investment, KNIME aims to address the growing demand for comprehensive data science and AI solutions, which will benefit current and future users significantly. The enhanced capabilities and expanded offerings are expected to further solidify KNIME’s position as a leader in the data science and AI industry.
