Knime Secures Additional $30M in Funding for AI and Data Science Expansion
Knime is revolutionizing the field of data science and AI with its open-source platform that simplifies complex data analytics tasks.
Company Name: Knime
Location: Zurich, Switzerland
Sector: AI, Data Science, Open-Source Technology
Funding Details: Raised an additional $30 million in funding from Invus, bringing the total funding to $50 million.
Purpose of Investment: The new capital will be used to enhance the development of enterprise-grade AI governance and ModelOps capabilities. The funding will also support Knime's commitment to staying at the forefront of innovation in data science and AI.
Leadership: Led by CEO Michael Berthold, Knime is poised for further growth and innovation in the field of data science.
Product and Innovation: Knime offers an open-source platform that democratizes data science and artificial intelligence, making these technologies accessible to users from various backgrounds. The KNIME Analytics Platform is a free tool that allows users to create data science workflows and analytics applications without programming. The commercial KNIME Hub complements this platform by facilitating workflow automation, collaboration on projects, and sharing of insights within an organization.
Company Growth: Since its inception in 2017, Knime has experienced significant growth, with revenue reaching €30 million and annual growth rates of 30-40%. The company serves nearly 400 clients across diverse industries, including prominent names like ASML, Audi, AMD, Novartis, Bayer, and Mercedes-Benz. Knime operates with a dedicated team of 250 employees spread across the globe.
About the Company: Knime is revolutionizing the field of data science and AI with its open-source platform that simplifies complex data analytics tasks. By enhancing data accessibility and fostering an environment of collaboration and innovation, Knime empowers organizations to leverage data-driven insights effectively.