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Atlan Raises $105 Million in Series C Funding Round
Atlan, a San Francisco-based startup, has recently secured $105 million in a series C round of funding. This investment has propelled the company’s valuation to over $750 million. The funding round was led by Singapore’s sovereign wealth fund GIC and Meritech Capital, with participation from existing investors Salesforce Ventures and PeakXV Partners. Atlan plans to utilize this capital to enhance its product, which serves as a unified control plane for integrating disparate data infrastructure, ranging from data platforms like Databricks to CRMs such as Salesforce 360.
Furthermore, a portion of the funding will be allocated to expanding its footprint to meet the escalating demand for data organization in the era of artificial intelligence. Co-founder of Atlan, Prukalpa Sankar, emphasized the significance of addressing the challenges related to AI-ready data in today’s business landscape. Sankar highlighted the pivotal role of Atlan in building the control plane for the data and AI stack, integrating trust and context into the digital fabric.
Dealing with Data Chaos
In the current scenario, data chaos poses a significant challenge for organizations across various industries. Companies, regardless of their size, are utilizing a multitude of tools within their stack, generating vast amounts of structured and unstructured data. While some data is stored in platforms like Snowflake, a substantial portion remains siloed, awaiting utilization. Statistics from the Digitization of the World study indicate that by 2025, approximately 80% of the world’s data will be stored in enterprises.
Founded in 2020, Atlan aims to address the data chaos by consolidating information into a cohesive platform, providing a comprehensive view of data assets with relevant context and collaboration capabilities. Atlan’s ‘Metadata Lakehouse’ serves as the foundational layer, offering native connectors with common data tools and systems for syncing metadata swiftly. This encompassing approach allows the collection of diverse metadata types, from technical details to compliance information.
In addition to the base layer, Atlan incorporates a trust layer that facilitates access management, analytics, classification, and tagging of data. Personalized modules for data discovery, business metrics glossary, data products, and no-code data lineage enhance the platform’s functionality by enabling efficient search, collaboration, and problem-solving for data and business teams.
Impressive Growth Trajectory
Despite being relatively new in the data infrastructure sector, Atlan has witnessed significant adoption at the enterprise level, especially with the emergence of AI. The company has experienced a revenue surge of over seven times in the past two years, attracting major clients such as Cisco, Autodesk, Unilever, Ralph Lauren, FOX, News Corp, Nasdaq, NextGen, Plaid, and HubSpot.
Atlan’s platform aims to streamline data handling processes, reducing the time spent by data practitioners on data understanding by up to 95%. In comparison to competitors like Informatica, Collibra, and Alation, Atlan claims to secure three-quarters of the deals due to its unique automation capabilities and AI-driven metadata creation tools.
Looking ahead, Atlan’s strategic focus revolves around enhancing product developments, integrations, and operational expansions to cater to the evolving demands of the market. The recent funding injection will play a pivotal role in supporting these growth initiatives and consolidating Atlan’s position as a key player in the data organization landscape.
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