KNIMEone of the leading open source data science and AI companies, has raised additional funding from long-time investor Invus. Since the last announcement, Invus has invested another $30 million, bringing the total funding to $50 million. This will allow KNIME, as the only open source and low-code data science company in the market, to double down on its enterprise-class AI management and ModelOps capabilities while staying ahead of the rapid innovations in the field.
Since 2017, KNIME has grown revenue to EUR 30 million, at 30-40% per year, and currently serves almost 400 customers with a team of 250 employees worldwide. KNIME’s user base spans almost half a million people, making it the world’s largest low-code data science community. As a truly horizontal platform, KNIME has customers across all industries and regions, enabling companies such as ASML, Audi, AMD, Lilly, Novartis, Bayer, Sanofi, Genentech, FDA, P&G, Mercedes-Benz, and others. KNIME recently achieved ISO 27001 certification, meeting the highest global enterprise information security standards and confirming KNIME’s commitment to protecting its users’ data.
The company’s open-source approach removes virtually all barriers to entry while making the platform relevant to a market that is evolving at unprecedented speed.
The investment comes at a crucial time when organizations are facing increasing pressure to minimize the risks associated with GenAI while maximizing its impact. A comprehensive overhaul of both core components of the KNIME offering addresses this need. The KNIME Analytics platform is now cloud- and browser-ready and features a novel UX/UI, accelerating the learning curve for beginners and increasing productivity for advanced users. The KNIME Analytics platform also includes K-AI, an AI assistant that helps users get started or add advanced functionality to their data projects. The enterprise-grade commercial KNIME Business Hub has also been redesigned from the ground up to make it easier to automate, collaborate, deploy, and manage analytics and AI models. Additionally, KNIME has introduced a SaaS offering, Team Plan for KNIME Community Hub, enabling compact organizations to automate their workflows with a adaptable pay-as-you-go plan.