Superconductive Raises $40M in Series B Funding to Revolutionize the Speed and Integrity of Data Collaboration
Tiger Global leads round for creators of the popular Great Expectations open source tool for data quality
Superconductive, providers of Great Expectations, the leading open source tool for data quality, announced it has raised a $40 million Series B funding round led by Tiger Global with support from Index, CRV, and Root Ventures, bringing total funding to $64.5 million. The new funds will be used to accelerate the continued investment in open source and its community, development and launch of a first commercial product, and key hires across the organization.
According to Gartner, poor data quality costs organizations an average $12.9 million per year, which impacts revenue and also increases the complexity of data ecosystems and leads to poor decision making. By 2022, it’s predicted that 70% of organizations will rigorously track data quality levels using various metrics to significantly reduce operational risks and costs.
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“Great Expectations is one of the fastest-growing open source communities in the data ecosystem. It’s downloaded nearly 3 million times every month, and is rapidly becoming the de facto shared open standard for data quality,” said Abe Gong, CEO and co-founder of Superconductive. “With support from Tiger, Index, CRV and Root Ventures, Great Expectations is primed to enter its next chapter of growth. This year, we’ll continue to extend the capabilities of the open source project while also launching our first commercial offering.”
Along with improvements to the open source version, the company is working on development of Great Expectations Cloud, an enterprise SaaS suite of collaboration and orchestration tools for managing data quality across an organization’s whole data infrastructure. Design partnerships are currently in the works for this paid version, gaining valuable feedback and input from partners to establish a set of concepts and workflows that fit naturally on top of open source Great Expectations, offering new possibilities for data quality and data collaboration.
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A key new hire is VP of Engineering Lawrence Bruhmuller, who has held executive engineering leadership roles for over 12 years focused on growth stage technology startups. Most recently, he has held Chief Technology Officer and Vice President of Engineering roles at Pave, Optimizely, and WeWork, taking on entire software engineering organizations and leading them into the next phase of growth. Lawrence holds a Bachelors in Mathematics and Engineering from Harvey Mudd College, and a Masters in Applied Mathematics from Claremont Graduate University.
Great Expectations is a trusted tool in the open source community reaching over 2.8 million monthly downloads, gaining traction with major brands such as Vimeo, Heineken, Calm, and Komodo Health, as well as ecosystem partners such as Databricks, Astronomer, and Prefect.