Data science startup company Dataiku raised $100 million in a Series D financing round. The New York-based firm announced its successful foray into the investment round last Monday, August 24, 2020. Crunchbase News states the $100 million cash infusion brings the total amount raised to $246.8 million since its launch in 2013.
The new round of funding allows the unicorn startup to maintain its status. Forbes notes that the startup company was previously valued at $1.4 billion after CapitalG joined the list of investors last December 2019. Dataiku still reportedly remains mum about its new valuation.
The investment round was led by Stripes and new investor Tiger Global Management. Stripes is a growth equity firm that focuses on providing funding to tech startups specializing in consumer and software products, notes CRN.
Other investors who participated in the Series D funding round include Battery Ventures, CapitalG, Dawn Capital, FirstMark Capital, and ICONIQ Capital.
Founded in 2013 by chief executive officer Florian Douetteau together with three other individuals, namely Marc Batty, Thomas Cabrol, and Clement Stenac, Dataiku has since specialized in providing artificial intelligence and machine learning capabilities via its Dataiku Data Science Studio (DSS).
Its Dataiku platform lends easier and more efficient access towards unstructured information to be utilized by data analysts and data scientists for respective purposes across different organizations and sectors.
Douetteau says, “We provide tools to enable analysts, data scientists, and employees in general in order to enrich data rather than developing a solution by themselves. It might be a function of origin – being French, we are lazy so we want to do as little as possible,” shares Forbes.
Its impressive list of clients across Asia, Europe, and North America include the likes of General Electric, GE Aviation, Morgan Stanley, Pfizer, Schlumberger, Sephora, and Unilever. Crunchbase News states that these companies use the Dataiku platform for predictive maintenance, fraud detection, customer churn prevention, and supply chain optimization.
Following the influx of fresh capital, the startup company plans to allocate its funding towards expanding its reach and increasing its offerings in the future.
As of writing, Crunchbase News reports that the New York-based firm has more than 450 employees across its offices in New York, Amsterdam, Dubai, Frankfurt, London, Singapore, and Sydney.
In a statement to Forbes, however, chief customer officer Kurt Muehmel said that “We don’t have to go and acquire other companies to complement parts of the product that are missing.” Instead, artificial intelligence and machine learning said that it is content with targetting areas of growth and expansion in different places using a variety of approaches or cases.