Zurich-based KNIME bags €27.5M to help individuals and organisations make sense of data; here’s how

Zurich-based KNIME, an open-source data science and AI company, announced on Tuesday, August 6, that it has raised $30M (approximately €27.5M) from its longstanding investor Invus.

To date, Invus has invested around $50M (approximately €45.7M) in the Swiss company.

The latest capital injection will allow the company to double down the development of its enterprise-grade AI governance and ModelOps capabilities.

“With our open-source community, we can provide KNIME users intuitive access to a wealth of state-of-the-art techniques,” says Michael Berthold, co-founder and CEO of KNIME.

KNIME: Helps users make sense of data

Led by Michael Berthold, KNIME is an open-source data science and AI platform.

The company’s free and open-source KNIME Analytics Platform enables anyone, whether they come from a business, technical, or data background, to work with data.

KNIME Analytics Platform also includes K-AI, an AI assistant that helps users get started or add advanced functionality to their data projects.

KNIME Hub enables users to automate workflows, collaborate on data science and AI projects, and share insights across the organisation.

Collectively, the products allow teams at all analytics readiness levels to support data operationalisation and build scalable data science and AI practice.

Since 2017, KNIME has grown revenue to €30M, at 30-40 per cent per year, and is now serving nearly 400 customers with a team of 250 employees worldwide.

The Swiss company counts customers across all industries and regions, enabling companies such as ASML, Audi, AMD, Lilly, Novartis, Bayer, Sanofi, Genentech, the FDA, P&G, Mercedes-Benz, and others.

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.

KNIME has recently achieved ISO 27001 certification, meeting the highest global information security standards for enterprises and evidencing KNIME’s commitment to protecting the data of its users.

“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,” says Berthold.

The investor

Invus makes equity investments in transformational opportunities in both private and public companies. With $10B under management, the firm is active across a range of industries including consumer and retail, technology, and healthcare.

Mario Kaloustian, Managing Director at Invus adds: “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.”