French-founded “platform for Everyday AI” Dataiku has raised $200 million in a Series F funding round, at a $3.7 billion valuation. In line with a number of down rounds seen this year, this new valuation is down from the $4.6 billion valuation the company achieved during a $400 million in a Series E round led by Tiger Global announced in August of 2021.
Datatiku’s fresh $200 million round is led by new investor Wellington Management and brings the company’s total funding to approximately $850 million. Alongside Tiger Global, existing backers of the company include ICONIQ Growth, CapitalG, FirstMark Capital, Battery Ventures, Snowflake Ventures, and Dawn Capital. New investors include Insight Partners, Eurazeo, Lightrock, and Datadog CEO Olivier Pomel. The new round is expected to help the company further accelerate its product offering
Founded in 2013, Dataiku self-describes its service as providing ‘Everyday AI’ through, “democratising data and empowering organisation-wide collaboration”.
This 'Everyday AI' approach uses a series of tools that remove the silos between business units and can be used to create predictive AI models and derive actionable insights from unstructured data. With a heavy emphasis on visualisations, Dataiku keeps the "overwhelming mountain of data" fear factor at bay, giving non-coding teams their own voice at the data-driven decision table.
According to the company, over the course of 2022, it augmented its customer base to over 500, including over 150 of the world’s largest enterprises, and achieved an ARR of over $150 million.
“Enterprises overwhelmingly understand that now is the time to embrace AI or risk falling behind,” said Dataiku co-founder and CEO Florian Douetteau. “Our ability to attract new, market-leading investors, like Wellington, in this challenging environment underscores the strength of our solutions, our world-class team, and the tremendous opportunities ahead. We are on the cusp of a massive market transformation with AI at the heart of it and we are ready to meet the moment.”