After growing 10x in 2021, Atlan plans to leverage this financing to accelerate product development and invest in go-to-market.
Atlan announced that it has closed its $50M Series B round at a $450M valuation led by Salesforce Ventures, Insight Partners, and Sequoia Capital India. Several founders in the data space participated in the round including Fivetran founder Taylor Brown and ThoughtSpot founder Ajeet Singh. Existing investors Waterbridge Ventures also participated in the round.
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“Traditionally, tooling in the space has focused on collecting metadata but has failed in helping customers actually drive value from metadata”
Atlan creates a unified discovery and collaboration experience, bringing context and trust to the entire modern data stack. “Today, data assets are not just tables, but code, models, BI dashboards, and pipelines,” said Prukalpa Sankar, Co-Founder of Atlan. “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.”
“Data and analytics are mission-critical to navigating rapidly-changing circumstances — informing decisions, seeing opportunities and navigating change,” said Alex Kayyal, Managing Partner of Salesforce Ventures. “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 product make them the leader in bringing the future of collaboration to data teams.” Salesforce Ventures has also invested in leading companies shaping the modern data and analytics platform including Airbyte, dbt labs, Monte Carlo, Snowflake, and Starburst Data.
The latest investment comes just eight months after a $16M Series A led by Insight Partners and high profile angels like Bob Muglia, former CEO of Snowflake. It gives Atlan a post-money valuation of $450 million.
Atlan started out as an internal project at datafor good firm SocialCops and was incubated across over 200 data projects, including India’s National Data Platform used by the Prime Minister. Since emerging from stealth, it has reported impressive growth numbers, with both its customers and ARR growing 10x in 2021.
“Traditionally, tooling in the space has focused on collecting metadata but has failed in helping customers actually drive value from metadata,” said Varun Banka, Co-Founder of Atlan. “We are pioneering a new generation of metadata: going from passive, siloed data catalogs to active metadata platforms that can improve every tool in the data stack.”
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