Data collaboration software provider Atlan Pvt Ltd has raised $50 million in Series B round from Salesforce Ventures, Insight Partners and Sequoia Capital India, the company announced.
The post-money valuation of the firm is now at $450 million, a bounce of 4.5X from its last Series a fundraiser in May 2021. At the moment, Insight Partners governed a $16 million fundraise alongside Waterbridge Venture and Sequoia increase. Bob Muglia, former CEO of Snowflake financed Atlan in its Series A round.
The Series B capital was brought up in the firm’s Singapore entity Atlan Pvt Ltd, a subsidiary of US incorporated Atlan Inc.
The revenue of the fundraiser will be utilized to improve the scale of the team, product and engineering, and go-to-market strategies, Prukalpa Sankar, cofounder Atlan. The firm also plans to promote an Esop (Employee Stock Option) buyback of up to $1.5 million, it announced.
The company asserted Fivetran founder Taylor Brown and ThoughtSpot founder Ajeet Singh have also joined in the latest round. Atlan’s Software-as-a-Service (SaaS) property helps data squads within corporations collaborate and work jointly. “Today, data assets are not just charts, but code, models, BI dashboards, and pipelines,” Sankar, announced. “Metadata is the glue that can attach the modern data stack jointly, the layer that will enable increasingly diverse, siloed tools and people to work together effectively,” she added.
The firm grew 10X over 2021, Sankar told. “Data and analytics are mission-critical to driving rapidly-changing circumstances — instructing decisions, detecting opportunities and navigating change,” announced Alex Kayyal, Managing Partner of Salesforce Ventures. “As businesses adopt a digital-first environment, their demand for informed, data-driven collaboration will only strengthen,” he said.
Atlan arose out of social data aggregator firm SocialCops and was incubated across over 200 data projects, comprising India’s National Data Platform used by the Prime Minister.
“Traditionally, tooling in the space has concentrated on collecting metadata but has declined in helping customers actually drive price from metadata,” announced Varun Banka, Co-Founder of Atlan. “We are initiating a new generation of metadata: going from passive, siloed data catalogues to active metadata outlets that can enhance every tool in the data stack,” Banka announced.
Atlan’s clients comprise firms like Plaid, WeWork, Postman, Delhivery, Unilever, and Scripps Health, the company announced. It has a global team of over 100 people spread across 12 nations, constituting the US, India, UK, Canada, Nigeria, Singapore, and the Philippines.
