Zurich-based open-source data science and AI company, KNIME, has secured €27.5 million ($30 million) from its long-standing investor, Invus. To date, Invus has invested approximately €45.7 million ($50 million) in the company. This latest funding round aims to bolster KNIME’s development of enterprise-grade AI governance and ModelOps capabilities.
Founded by Michael Berthold, KNIME offers an open-source data science and AI platform designed to make data analysis accessible to everyone, regardless of their technical background. The KNIME Analytics Platform includes K-AI, an AI assistant that helps users enhance their data projects, and the KNIME Hub, which enables automation, collaboration, and insight sharing across organizations.
Since 2017, KNIME has grown its revenue to €30 million, experiencing annual growth rates of 30-40%. The company serves nearly 400 customers, including major names like ASML, Audi, AMD, Lilly, Novartis, Bayer, Sanofi, Genentech, the FDA, P&G, and Mercedes-Benz. With a global team of 250 employees, the AI company continues to innovate and expand its reach.
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Expanding SaaS Offerings and Ensuring Security
In addition to its open-source platform, the swiss startup has launched a SaaS offering called the Team Plan for KNIME Community Hub. This allows small organizations to automate workflows on a flexible, pay-as-you-go basis. The company from Switzerland recently achieved ISO 27001 certification, demonstrating its commitment to protecting user data by meeting the highest global information security standards.
Strategic Investment to Meet Growing Demand
Michael Berthold, co-founder and CEO expressed enthusiasm about the new funding: “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.”
Support from Invus
Invus, with $10 billion under management, makes equity investments in transformational opportunities across various industries, including consumer and retail, technology, and healthcare. Mario Kaloustian, Managing Director at Invus, stated: “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.”
With this substantial investment, the AI firm is poised to further enhance its AI and data science capabilities, driving innovation and efficiency for its growing user base.
