The KNIME Summit, KNIME.com AG announced that equity investor INVUS has invested €20 million in the company 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, organisational 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.
INVUS was advised by EY Germany for Financial and Tax Due Diligence. Thomas Prüver, EY Transaction Services Partner, based in Berlin and dedicated to transactions on fast growing tech businesses, said: “It is exciting to see these growing tech businesses, which can substantially drive the digitisation of our industry.”