Today, Dataiku is announcing a major new financing – a total of $400m at a $4.6B valuation, led by Tiger Global (which had also invested in the company’s Series D), alongside a great group of existing and new investors.
While financings are ultimately just milestones, this is certainly a testament to the remarkable progress the company has been making towards becoming a major global software player, as it has scaled to hundreds of customers around the world and some 750 employees (and yes, hiring a lot more).
Beyond the headlines and high-fives, what is the story? Here’s a quick industry backgrounder and reminder for anyone new to the company.
A huge part of the data world has been historically focused on business intelligence, with both historical players (Tableau, Microsoft’s Power BI, Google Looker) and newer players (SiSense, Mode, etc.). Business intelligence tools enable you to analyze the past and the present of your business: “which region performed best last quarter?”, “who are our best salespeople?” etc. This is sometimes referred to as descriptive analytics.
Dataiku is a leader in another part of the data world, which different people call different names: data science, enterprise AI (for artificial intelligence), enterprise machine learning. Beyond the semantics, the core idea is to make it possible to asnwer questions about the future of your business, based on the analysis of historical data: “which customers are most likely to buy this product?”, “which customers are most likely to churn?”, “which transaction is most likely to be fraudulent?”, “which region is most likely to show strong demand this month?”. This area is sometimes referred to as predictive analytics.Continue reading “Dataiku’s Series E: Ushering the Era of Everyday AI”