AI (Artificial Intelligence) letters and robot hand are placed on computer motherboard in this illustration taken, June 23, 2023. REUTERS/Dado Ruvic/Illustration
(Reuters) -Dataiku, an artificial intelligence data analytics startup, has hired investment banks to push ahead with an initial public offering, according to people familiar with the matter.
The New York-based company has hired Morgan Stanley, Citigroup and other banks to take it public, according to two people familiar with the matter.
Dataiku held a meeting on Wednesday to kick off preparations for the IPO, which could come as soon as the first half of 2026, according to the people.
Deliberations are ongoing and details such as the timing could change, the people said, asking not to be identified because the information is private.
Representatives for Dataiku and Morgan Stanley declined to comment. A Citigroup representative did not respond to a request for comment.
Ninety-seven companies went public in the third quarter, raising over $24 billion in the busiest stretch since the final quarter of 2021, according to Dealogic.
Technology firms, including those in software, cybersecurity and financial technology such as Klarna and Figma, have tapped investor optimism in AI to drive the rebound.
Dataiku raised $200 million in a late-stage series F round led by Wellington Management, valuing the company at $3.7 billion, in December 2022.
Founded in 2013, Dataiku sells tools to build, test and deploy AI and analytics applications. Its customer base includes more than 700 organizations, including Johnson & Johnson, Toyota, General Electric and BNP Paribas, according to its website.
In January, the startup surpassed about $300 million of annualized recurring revenue, it added.
(Reporting by Echo Wang in New York; Editing by Richard Chang)
