Zurich-based Software Developer Knime Completes €20M Investment from Invus
Equity investor INVUS has invested €20 million in Knime to support its ongoing work in transforming the data science industry.
“We’re excited to have an investor that truly understands open source and recognizes the potential for expanding across the enterprise,” says CEO Michael Berthold of KNIME.com AG. “Even though KNIME was already profitable and is growing strongly, we see a huge window of opportunity for our open source strategy combined with our vision of bringing Guided Analytics to the large group of users who have not been able to benefit from using advanced analytics to date.”
KNIME, with a growing group of software companies, believes that opening up previously closed or exclusive platforms, processes, tools, organizational boundaries and idea sourcing can speed up innovation while reducing risk. That understanding provides the basis for KNIME’s software development as well as its approach to working with the community in the analytics space.
Today, KNIME users can be found in large-scale enterprises in over 50 countries and across a wide range of industries including life sciences, financial services, publishers, retailers and e-tailers, manufacturing, consulting firms, government and research.
“We see KNIME as a company with a real competitive advantage and a vision for expanding on it,” say Mario Kaloustian and Wassim Sacre, Managing Directors at INVUS and Board Members of KNIME.com AG. “That, combined with passionate founders who care about growing the business long-term, an enthusiastic user community and an excellent platform, adds up to a clear opportunity.”
With independent analysts overwhelmingly acknowledging KNIME as a leader, recent interest from venture capital firms has been high. But it was important to KNIME to work with a partner that would not change the focus, the management team or – most importantly – the open source philosophy that has contributed so much to the company’s success.
“Invus is a perfect match for KNIME: they have a reputation for long-term involvement and have pledged to empower the KNIME management team. They also understand and support our open source model for bringing advanced analytics to many users,” says Berthold. “This will in no way change our dedication to open source or our relationships with our customers while enhancing our ability to help organizations tap into the benefits of advanced analytics.”
At KNIME®, we build software for fast, easy and intuitive access to advanced data science, helping organizations drive innovation.
Our KNIME Analytics Platform is the leading open solution for data-driven innovation, designed for discovering the potential hidden in data, mining for fresh insights, or predicting new futures. Organizations can take their collaboration, productivity and performance to the next level with a robust range of commercial extensions to our open source platform.
For over a decade, a thriving community of data scientists in over 60 countries has been working with our platform on every kind of data: from numbers to images, molecules to humans, signals to complex networks, and simple statistics to big data analytics.
KNIME’s headquarters are based in Zurich, with additional offices in Konstanz, Berlin, and Silicon Valley. We’re open for innovation®, so visit us at KNIME.com.
Source Knime’s press release