In line with investors' obsession with all things to do with data, Dataiku, a provider of data management software, has secured a $400m investment that values the business at around $4.6bn.
The Series E investment round was led by Tiger Global and also included ICONIQ Growth, CapitalG, FirstMark Capital, Battery Ventures, Dawn Capital, and Snowflake Ventures, set up by that other cloud data company which achieved a jaw-dropping IPO last year.
It is just a year since Dataiku received $100m in a Series D round, which valued the firm at over $1bn. Why the company might now be worth four times that amount is up to investors to argue.
Dataiku lays claim to the crown of "enterprise data platform of the future", an enterprise niche assumed to have a vital role in underpinning all that machine learning and AI businesses are supposed to be doing, according to prevailing industry froth.
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"We've seen that executing an AI strategy in which data is a part of day-to-day operations can have large-scale impact for organizations across sectors and sizes, and Dataiku is well-positioned to continue to help the enterprise realize this potential value given both the strength of their technology and the team," said John Curtius, partner at Tiger Global, in a pre-canned statement.
Dataiku is one of many firms serving investors with a seemingly insatiable appetite for all things to do with data management, machine learning, and analytics. Databricks, the company which originally built its system on the Spark framework, is set for an IPO this year, and also has a hand on the enterprise data crown.
Dataiku and Databricks were both founded in 2013, but they are joined by the SAS Institute, incorporated 45 years ago and privately held ever since. After a reported takeover by Broadcom fell through, founder and CEO Jim Goodnight is also said to be considering an IPO by 2024. ®