KNIME raised $30M to strengthen its AI governance and ModelOps capabilities

KNIME, a leading open-source data science and AI platform founded by four software engineers: Michael Berthold, Thomas Gabriel, Peter Ohl, and Bernd Wiswedel, announced this week it has secured a $30 million investment from its long-standing investor Invus, which brings KNIME's total funding to $50 million.

Over the last seven years, KNIME has seen a period of remarkable growth, reaching €30 million in revenue and serving over 400 customers across the globe, including ASML, Audi, AMD, Lilly, Novartis, Bayer, Sanofi, Genentech, the FDA, P&G, and Mercedes-Benz. Thanks to its open-source approach which eliminates barriers to entry and quickly adapts to fast-moving market needs, KNIME has established itself as the largest low-code data science community globally.

The platform recently achieved ISO 27001 certification as part of KNIME's commitment to protecting its users' data. Additionally, to meet its customer demands, KNIME revamped two core components of its platform. The KNIME Analytics platform was enhanced with cloud and browser compatibility, an improved UX/UI, and an AI-powered assistant, K-AI, capable of guiding beginner users through their first steps and supporting experienced users in adding advanced functionality to their projects. The KNIME Business Hub was re-engineered to incorporate enterprise-grade capabilities that enable automation, collaboration, and analytical and AI model deployment and governance. Moreover, KNIME has also introduced the Team Plan for KNIME Community Hub, an affordable pay-as-you-go SaaS offering geared towards smaller teams.

In addition to noting that the platform is key to providing access to cutting-edge techniques for its users, Michael Berthold, co-founder and CEO of KNIME, recognized that the investment is essential to meet growing demand and accelerate innovation by incorporating advancements in data science and AI.