$400m in Series E funding pushes Dataiku value to $4.6bn

5 Aug 2021

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The enterprise AI company now serves more than 450 businesses globally.

Dataiku, the provider of “everyday AI” for businesses, reached a $4.6bn valuation after securing $400m in Series E funding from a group of investors led by Tiger Global.

The company provides AI and analytics services for companies with the goal of making data accessible for the average employee. Geared towards both the technically proficient and those with no coding ability, it also provides companies with prebuilt components and automation to increase the efficiency of work processes.

New York-headquartered Dataiku, which was founded in France in 2013 by Clément Stenac, Marc Batty, Thomas Cabrol and Florian Douetteau, previously raised $100m in Series D funding in 2020 and now employs more than 750 people worldwide.

It serves more than 450 companies globally in industries such as banking, telecoms, pharmaceuticals and manufacturing.

The tech company recently released a study conducted by Forrester showing that its enterprise clients reported a 423pc return on investment. For data scientists and engineers, this meant a 75pc increase in productivity and a 90pc reduction in the repetitive manual tasks involved in regular reporting.

“We’ve seen that executing an AI strategy in which data is a part of day-to-day operations can have large-scale impact for organisations across sectors and sizes, and Dataiku is well positioned to continue to help the enterprise realise this potential value given both the strength of their technology and the team,” said John Curtius, a partner at Tiger Global, the tech investor that recently closed a $6.7bn venture fund.

Other investors in this Series E round included existing backers Dawn Capital and Battery Ventures, alongside new investors such as Insight Partners.

Evgenia Plotnikova, a partner at Dawn Capital, commented: “When I think about the future, I cannot imagine a world where there is less data. But I can imagine one where access to its power is limited. For far too long, data has been reserved for the technical elites, parading ‘digital transformation’ projects with limited impact in siloed organisations. That is until Dataiku’s everyday AI.

“Dataiku breaks the silos and empowers every person in the business, making all decisions data driven and every change wide and lasting … That mission of narrowing the ‘data gap’ propelled Dataiku from a French scale-up to a global powerhouse that it is today.”

Sam Cox was a journalist at Silicon Republic covering sci-tech news