KNIME, one of the leading open-source data science and AI companies, announced it has raised additional funding from its longstanding investor, Invus. Since the last announcement, Invus has invested another $30 million, bringing the total funding to $50 million.
This funding round will enable KNIME, the only open-source, low-code data science company on the market, to double down on developing its enterprise-grade AI governance and ModelOps capabilities while also continuing to stay ahead of rapid innovation in the field.
Since 2017, KNIME grew revenue to €30 million at 30-40% per year and is now serving nearly 400 customers with a team of 250 employees worldwide. And the KNIME user base includes nearly half a million people, making it the largest low-code data science community in the world.
KNIME counts customers across all industries and regions, enabling companies like 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.
This investment comes at a major time as organizations face mounting pressure to minimize the risks associated with GenAI, while maximizing its impact. And 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, which speeds up the learning curve for beginners and improving productivity for advanced users. And 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 for facilitating automation, collaboration, deployment, and governance of analytical and AI models. And 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.
KEY QUOTES:
“With our open-source community, we are able to provide KNIME users intuitive access to a wealth of state-of-the-art techniques.”
“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.”
- Michael Berthold, co-founder and CEO of KNIME
“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.”
- Mario Kaloustian, Managing Director at Invus
