A platform for ‘Everyday AI’ is planning UK expansion after raising £290 million in fresh funding.
Dataiku employs 80 people on these shores and says the UK is a key market for its growth, with the team potentially set to double by the end of next year.
“The UK remains one of our key markets and our growth targets both in terms of people and revenue match that,” the founders told BusinessCloud.
“We have quite a lot of open positions that we would like to fill by the end of the year, with our ambition to be around 120 employees by the start of 2022, with further growth anticipated for 2022.”
The Series E investment was led by Tiger Global, with participation from several existing investors, including ICONIQ Growth, CapitalG, FirstMark Capital, Battery Ventures, Snowflake Ventures, and Dawn Capital, as well as new investors, including Insight Partners, Eurazeo, Lightrock and Datadog CEO Olivier Pomel.
The capital brings the company’s valuation to £3.3 billion. Founded in 2013, Dataiku enables over 450 companies globally to leverage one end-to-end platform to design, deploy and manage AI and analytics applications.
It also facilitates using prebuilt components and automation wherever possible to streamline work processes as well as consistent management and governance across teams and projects to create transparent, repeatable, and scalable AI and analytics programs.
“The UK is leading the way in terms of AI. Of the 194 countries ranked by the Oxford Insights and Developmental Research Centre, the UK ranks second in AI readiness, only behind Singapore – with the US ranked fourth,” the founders continued.
“Several UK-based customers are using Dataiku to push more data-driven work into production across their respective businesses. Likewise, what we’re seeing is that the low- and no-code approach is proving valuable to some of the UK’s most important sectors such as financial services and insurance.”
Florian Douetteau, co-founder and CEO, added: “This latest round of funding is a proof point that everyday AI is the future, and we’re excited to help many more companies realise its benefits.”
Dataiku continues to grow into its role as a market leader, now employing more than 750 people in offices around the world, including New York, Paris, London, Munich, Sydney, and Singapore.
“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, Partner at Tiger Global.
“We’re excited to be a part of their mission to systematise data and AI through our continued investment.”AI