Big Data-based Startup Dataiku Hoists USD101 Million In Series C Round

Big Data News

Big_Data-based_Startup_Dataiku_Hoists_USD101-Million_in_Series_C_Round Big Data-based Startup Dataiku Hoists USD101 Million In Series C RoundNew York City-based, Big-data startup Dataiku Inc. has elevated a hefty USD101 million in series C round of funding that led by ICONIQ Capital, with participation from Alven Capital, Battery Ventures, Dawn Capital and FirstMark Capital. Through this funding round, the company’s total funding worth USD146 million to date.

Dataiku has been aiding enterprises like Unilever Plc., Electric Co., and BNP Paribas S.A. from their unstructured data for years. Unstructured data is information in several diverse forms that doesn’t cut to traditional data models and thus typically isn’t a good fit for mainstream relational databases. However, due to the emergence of alternative platforms like Dataiku Inc., it is progressively more widespread in IT systems and is utilized by companies in an assortment of Business Intelligence and analytics applications. The company’s goal is to assist enterprises to find meaning in their unstructured data. Supporting a wide range of database formats and sources comprising Hadoop and NoSQL, Dataiku’s platform enables businesses to perform many constructive things with their data. The Big Data-based startup also provides a visual coding tool for developing applications, which can leverage said data.

The company said that it also seeks to democratize access to data, thus its platform has been designed in such a way that it is easy to utilize by anyone, including data scientists and business analysts. Customers use the company’s tools for tasks like identifying fraud, predicting demand, optimizing lifetime values and more. Dataiku has big ambitions which intimate the size of its new funding round. The startup also plans to double its workforce and open new offices to target more customers.