KNIME receives a further 30 million dollars from Invus

According to a press release, the software company KNIME has received a further investment of 30 million dollars from its long-standing investor Invus in New York. This brings the total funding for the Zurich-based company, which specializes in data science and artificial intelligence (AI), to 50 million dollars.

The fresh capital is intended to double the development of enterprise-grade AI governance and ModelOps capabilities. KNIME develops solutions that support companies and organizations in managing large amounts of data and minimize risks - through a regulatory framework (governance) for artificial intelligence and for action processes (ModelOps or model operations). The intuitive access of the low-code offering enables companies to develop their own platforms for automated data processing without the need for expensive IT experts."With our open source community, we are able to offer KNIME users intuitive access to a wealth of cutting-edge technologies," says Michael Berthold, co-founder and CEO of KNIME."This model answers the key question for the C-suite (top management) of any organization: How can we accelerate innovation with GenAI while managing the associated risks?" says Mario Kaloustian, Managing Director of Invus.

According to the press release, KNIME's turnover has risen to 30 million euros since 2017, with growth of 30 to 40 percent per year. The company serves almost 400 customers worldwide with a team of 250 employees. Examples cited include: Audi, Novartis, Bayer, Sanofi, Genentech and Mercedes-Benz. ce/gba