Atlan raises $105 million in funding at a $750 million valuation.
Takeaway Points
- Atlan raises $105 million in funding at a $750 million valuation.
- On Oct 8, 2020, Atlan Inc was named a Gartner 2020 Cool Vendor in DataOps.
How Much Did Atlan Raise?
Atlan announced on Wednesday that it had raised $105 million in a funding round led by Singapore’s sovereign wealth fund GIC and tech investor Meritech Capital, which valued the artificial intelligence startup at $750 million, according to Reuters.
“The legacy players in our space include Informatica, Collibra, and Alation — and we win three quarters of the deals when we compete head-to-head with them,” Atlan Co-founder Prukalpa Sankar told Reuters.
Rob Ward, co-founder, Meritech Capital said “Without the control plane Atlan has built, organizations will continue to struggle with getting major business initiatives like AI readiness and data democratization actually up and running.”
Reuters said that top technology companies are racing to build AI into their products and services. Startups catering to the surge in demand for AI chips and learning have been a bright spot in an otherwise subdued private funding market. Data is the building block of the AI revolution which has taken Wall Street by storm. Generative AI aims to make human-like creations through computer code that has processed vast amounts of data.
Atlan was recognized in the Gartner 2020 Cool Vendors in DataOps.
On Oct 8, 2020, Atlan Inc. was named a Gartner 2020 Cool Vendor in DataOps. Atlan explained that its modern collaborative data workspace enables diverse business, data, and IT users with different tools, technologies, and goals to collaborate with speed and reliability across the enterprise ecosystem.
Prukalpa Sankar, co-founder of Atlan, said in a comment that the company is grateful to be recognized as a Gartner Cool vendor.
“Atlan is grateful to be named a Gartner Cool Vendor and sees its recognition as validation for pioneering a new approach to data management — contextualised collaboration focused experiences for diverse users from business & IT, built from the ground up for the cloud and truly open & extensible,” Sankar said.
Varun Banka, co-founder of Atlan, said, “To win with data, diverse individuals such as engineers, data scientists and business users need to collaborate effectively. We are building the glue — the collaboration layer — for these diverse teams, to make them more agile and efficient. Just as HubSpot created a home for marketing teams and GitHub created a home for engineering teams, we are creating a home for data teams.”
Atlan said that The Cool Vendor report released on Oct 6, 2020 (ID G00732916) states that “DataOps has emerged as a concept to deliver data to consumers faster, with more resiliency and predictability.” It goes on to say that “Data and analytics leaders implementing DataOps may need to embrace new data management solutions to drive collaboration, knowledge sharing and data availability.”
Atlan’s recent $105 million funding round highlights not just the company’s promising growth but also the increasing acknowledgment of data democratization and collaboration worldwide. This significant investment positions Atlan to advance its data collaboration platform, enabling organizations globally to unlock the complete value of their data resources. As Atlan persists in pioneering and broadening its solutions, it emerges as a catalyst for advancement in data-driven decision-making, enhancing efficiency, and facilitating deeper insights for businesses across all sizes.
