Data intelligence startup Atlan, a Data Intelligence Startup has laid out an ambitious growth plan. For this it has raised $50 million Series B funding at a valuation of $450 million led by Salesforce Ventures, Insight Partners, and Sequoia Capital India.
Atlan plans to use this fund to expand its current team across all functions and accelerate its go-to market strategy. It is also planning an ESOP buyback of up to $1.5 million.
Prukalpa Sankar, Co-founder of Atlan, stated: “Today, data assets are not just tables, but code, models, BI dashboards, and pipeline. 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.
Atlan reports impressive growth numbers
Atlan started out as an internal project at Data for 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.
“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.
Atlan is currently used by data teams at high growth companies and major enterprises like Plaid, WeWork, Postman, Delhivery, Unilever, and Scripps Health.
“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.
Tejeshwi Sharma, Managing Director of Sequoia India, said, Atlan has emerged as a global leader in its category. The strength of the product and execution is validated by strong customer traction in a short span of time.
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.
The round also saw participation from founders in the data space participated in the round including Fivetran founder Taylor Brown and ThoughtSpot founder Ajeet Singh.
