(Bloomberg) -- Dataiku Inc., a startup that helps businesses roll out artificial intelligence projects, raised funds at a $4.6 billion valuation to expand in its markets.
The $400 million investment was led by Tiger Global, the New York-based company said in a statement on Thursday. The funding more than triples Dataiku’s valuation from a 2019 round.
The company wants to use the funds to grow in Europe, the U.S. and Asia, doubling employees across its footprint, Chief Executive Officer Florian Douetteau said in an interview. The company’s products, which minimize the technical barriers required to use AI for data analytics, are seeing a surge in demand as enterprises work to make use of increasing amounts of customer data, he said.
“We want to reduce the mystery and complexity around AI so that instead of a mountain, companies see it as an opportunity,” Douetteau said.
Founded in France in 2013, Dataiku has more than 450 customers in the banking, insurance, pharmaceutical, manufacturing and retail industries. The company has 750 employees and offices in New York, Paris, London, Sydney and Singapore. It got $100 million for expansion from its previous fundraising round in 2020.
Insight Partners, Eurazeo, Lightrock and Datadog CEO Olivier Pomel joined as new investors in the latest round alongside existing holders including ICONIQ Growth, CapitalG, FirstMark Capital, Battery Ventures, Snowflake Ventures and Dawn Capital.
“That mission of narrowing the ‘data gap’ propelled Dataiku from a French scale up to a global powerhouse,” said Evgenia Plotnikova, a partner at Dawn Capital.
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