Exclusive-AI data analytics startup Dataiku picked banks for US IPO, sources say

AI data analytics startup Dataiku has hired Morgan Stanley, Citigroup, and other investment banks to prepare for an initial public offering, potentially as early as the first half of 2026. This development, following a $200 million Series F round in December 2022 that valued the company at $3.7 billion and its recent surpassing of $300 million in annualized recurring revenue, signals continued strong investor appetite for AI-driven technology firms and contributes to the recent rebound in tech IPOs.

Analysis

Dataiku, an AI-focused data analytics startup, is advancing towards an initial public offering by hiring Morgan Stanley and Citigroup as lead underwriters. This move follows a successful $200 million Series F funding round in December 2022, which valued the company at $3.7 billion, and its recent achievement of surpassing $300 million in annualized recurring revenue (ARR) as of January. The potential IPO, tentatively slated for the first half of 2026, aligns with a broader resurgence in the technology IPO market, which saw its most active quarter since late 2021 in Q3 with over $24 billion raised, largely driven by investor optimism in the artificial intelligence sector. Dataiku's established enterprise client base, including firms like Johnson & Johnson and Toyota, substantiates its market position and supports the positive sentiment surrounding its public market ambitions.

Key Decisions for Investors

• Investors in late-stage private markets should view this as a potential liquidity event for a high-value asset in the AI space, providing a key benchmark for private enterprise software valuations.
• Portfolio managers should add Dataiku to their IPO watchlist, preparing to evaluate its public offering valuation against its last private mark of $3.7 billion, its ARR trajectory, and the performance of public comparables in the data analytics and AI sectors.
• The selection of Morgan Stanley (MS) and Citigroup (C) as underwriters is a positive indicator for their investment banking pipelines and reinforces the theme of a recovering capital markets environment, particularly for high-growth tech issuers.