AI Platform Dataiku Reaches $4.6B Valuation With $400M Series E

Everyday artificial intelligence (AI) platform Dataiku announced on Thursday (Aug. 5) that it had brought in $400 million in a Series E investment led by Tiger Global.

Other existing investors in this round include ICONIQ Growth, CapitalG, FirstMark Capital, Battery Ventures, Snowflake Ventures and Dawn Capital. New investors in Dataiku include Insight Partners, Eurazeo, Lightrock and Datadog CEO Olivier Pomel.

Dataiku is now valued at $4.6 billion after this investment round, which will help the company better systemize the way it uses data. The company helps more than 450 companies around the world to design, deploy and manage AI and analytics through its platform.

The company has more than 750 employees around the world, including in New York, Paris, London, Munich, Sydney and Singapore.

“This latest round of funding is a proof point that everyday AI is the future, and we’re excited to help many more companies realize its benefits,” said Florian Douetteau, co-founder and CEO of Dataiku, in the press release.

Read Next: IDC Says Companies Will Spend $342B On AI Solutions For Digital-First Economy

Companies are forecasted to spend hundreds of billions of dollars on AI solutions for a more digitally focused world. Revenue for the market is expected to grow 15.2 percent year over year in 2021, which will see it hitting $341.8 billion, according to a press release from the International Data Corporation (IDC) Worldwide Semiannual Artificial Intelligence Tracker.

The market is set to evolve even further in 2022, growing over 18 percent, the release stated. And by 2024, the IDC forecasts that the AI market will hit the $500 billion mark. AI hardware is set to grow faster than other categories in the next several years, although AI services is predicted to be the fastest-growing category by 2023 and onward.

“The market for AI servers and storage was less impacted than anticipated by the COVID-19 pandemic and is now rapidly picking up steam again, especially at the edge,” said IDC Research Director of Infrastructure Systems, Platforms and Technologies Peter Rutten in the release. “The infrastructure of choice is coalescing around massively parallel compute using co-processors and server clusters with fast interconnects and networks.”