09th May 2024 – Atlan, has raised a whopping $105 million in new funding, pushing its valuation to $750 million. This funding round was led by GIC and Meritech Capital from Singapore, with support from existing investors like Salesforce Ventures and PeakXV Partners. Since its inception, Atlan has gathered over $206 million in funding.
What does Atlan do? Well, it helps companies manage their vast amounts of data for analytics and AI projects. Their software platform organizes big datasets into easy-to-understand catalogs, making it simpler for analytics experts to find patterns and insights. This is crucial, especially now with the rise of AI, where accurate data categorization is key.
Co-founder Prukalpa Sankar highlights the growing interest in AI among companies. Many are realizing that the main challenge isn’t building AI models but having AI-ready data. Atlan steps in here by creating a control plane for data and AI integration, adding trust and context to digital data.
With this new funding, Atlan is on a roll. Their revenue has skyrocketed over the past two years, with significant enterprise sales growth. They boast impressive clients like Cisco Systems Inc., Unilever Plc., and Nasdaq.
Co-founder Varun Banka emphasizes the importance of unifying diverse data approaches across organizations. Atlan’s solution brings together data from various sources, enabling efficient collaboration among data teams.
Atlan’s AI copilot, Atlan AI, launched in 2023, further enhances their offerings. It provides quick answers to data queries, catering to both advanced users and non-experts.
Rob Ward, co-founder of Meritech Capital, sees Atlan as a game-changer in modern data governance, especially for cloud-first enterprises.
Conclusion
Atlan’s latest funding round solidifies its position as a leader in data management for AI projects. With its innovative solutions and impressive growth, Atlan is poised for even greater success in the future.
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