Data collaboration software provider Atlan has raised USD 50 million in its Series B funding round led by Salesforce Ventures, Insight Partners and Sequoia Capital India. This has brought Atlan’s total valuation up to USD 450 million. Co-founder of the company Prukalpa Sankar said that they plan to use the funding to expand their teams, advance product and engineering and work on their market strategies. The round also saw participation from SaaS data integration service provider Fivetran founder Taylor Brown and business intelligence company ThoughtSpot founder Ajeet Singh.
Atlan’s valuation jumped by 4.5 times from its Series A funding round in May last year. Insight Partners had then led the funding with USD 16 million with Waterbridge Ventures and Sequoia Surge. The former CEO of Snowflake, Bob Muglia, was also one of the investors.
Atlan also plans to issue ESOPs buyback of up to USD 1.5 million. “Today, data assets are not just tables, but code, models, BI dashboards, and pipelines. Metadata is the glue that can bind the modern data stack together, the layer that will allow increasingly diverse, siloed tools and people to collaborate effectively,” Sankar stated.
“As businesses embrace a digital-first environment, their need for informed, data-driven collaboration will only intensify. We believe Atlan’s deep integration ecosystem and unified products make them the leader in bringing the future of collaboration to data teams,” Alex Kayyal, managing partner at Salesforce Ventures, said in a statement.
- Amazon Warns Engineers Against AI Productivity Traps in Latest Memo
- Gnani AI Launches Prisma v3.0 Speech Recognition Model for 10 Languages
- Venttup Raises $3 Million To Expand Precision Manufacturing
- Articul8 Launches Bivia To Help Enterprise AI Agents Make Decisions
- NVIDIA Launches Open-Weight Transcription Model for 40 Languages
- Sarvam AI Rolls Out Indus Cowork to 2,500 Maharashtra Govt Officials