Dataiku announced it raised $200 million in a Series F round this week at a $3.7 billion valuation. This latest valuation is a 20% decline from its August 2021 valuation of $4.6 billion, perhaps reflecting the changing macroeconomic tide.
The company’s latest round was led by a led by new investor, Boston-based Wellington Management, who seems confident in Dataiku’s future: “Dataiku’s proven track record, management team, growth trajectory, and customer roster, positions the company to scale AI to new heights. We are pleased to partner and contribute to their impressive journey,” Matt Witheiler, consumer/technology sector lead, at Wellington Management, said in a release. “Dataiku has taken a leadership position helping enterprises put massive datasets to work at unprecedented speed and creating a culture of AI focused on delivering compounding business results.”
Dataiku has been busy this year. In June, the company released Dataiku 11, its latest data science and machine learning platform, and has provided subsequent updates as recently as December 13. The company said in a press release that it has grown its customer base above 500, including over 150 large global enterprises, and surpassed $150 million in annual recurring revenue.
The company has also received industry recognition including being named to the Forbes Cloud 100 and Forbes AI 50 lists, and Snowflake’s ML/AI partner of the year. Additionally, Dataiku was presented with a Readers’ Choice award for ‘Best Data and AI Product or Technology: Machine Learning and Data Science Platform’ in Datanami’s 2022 Readers’ & Editors’ Choice Awards last month.
Though a venture capital slowdown seems imminent, AI spending will likely continue. IDC forecasts that worldwide spending on artificial intelligence (including software, hardware, and services for AI-centric systems) will surpass $300 billion in 2026 for a compound annual growth rate of 26.5% between 2022-2026.
“Enterprises overwhelmingly understand that now is the time to embrace AI —or risk falling behind,” said Florian Douetteau, co-founder and CEO of Dataiku. “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.”