KNIME, one of the leading open-source data science and AI companies, has raised an additional $30M in funding from its longstanding investor Invus, bringing its total funding to $50M. The capital will allow KNIME to double down on the development of its enterprise-grade AI governance and ModelOps capabilities.
KNIME helps everybody make sense of data. Its free and open-source KNIME Analytics Platform enables anyone – from business to technical and data backgrounds – to intuitively work with data. KNIME Hub is the commercial complement to KNIME Analytics Platform and enables users to automate workflows, collaborate on data science and AI projects, and share insights across the organization. Collectively, the products allow teams at all levels of analytics readiness to support the operationalization of data and to build a scalable data science and AI practice.
Since 2017, KNIME has grown revenue to €30M, at 30-40% per year and is now serving nearly 400 customers with a team of 250 employees worldwide. The KNIME user base includes nearly half a million people, making it the largest low-code data science community in the world. The company counts customers across all industries and regions, supporting companies such as ASML, Audi, AMD, Lilly, Novartis, Bayer, Sanofi, Genentech, the FDA, P&G, Mercedes-Benz, and others.
The company has secured additional funding from Invus, which invested another $30M in the startup, bringing total funding to $50M. The investment comes at a pivotal moment as organizations face mounting pressure to minimize the risks associated with GenAI, while maximizing its impact. The comprehensive revamp of both core components of the KNIME offering answers this need.
KNIME Analytics Platform is now cloud- and browser-ready and benefits from a new UX/UI, speeding up the learning curve for beginners and improving productivity for advanced users. KNIME Analytics Platform also includes K-AI, an AI assistant that helps users get started or add advanced functionality to their data projects. The commercial enterprise-grade KNIME Business Hub has been re-engineered from the ground up as well, to facilitate automation, collaboration, deployment, and governance of analytical and AI models. Additionally, KNIME introduced a SaaS offering, the Team Plan for KNIME Community Hub, enabling small organizations to automate their workflows with a flexible pay-as-you-go plan.
Mario Kaloustian, Managing Director at Invus says: “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 our open-source community, we are able to provide KNIME users intuitive access to a wealth of state-of-the-art techniques,” says Michael Berthold, co-founder and CEO of KNIME. “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,” concludes Berthold.
(Press release/RAN)
The new Swiss Venture Capital Report was published on 26 January. It analyses 304 financing rounds closed in 2020 and includes further article such as an interview with Michael Hengartner, President of the ETH Board, and a list of Swiss "soonicorns". 
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