After growing 10x in 2021, Atlan plans to leverage this financing to accelerate product development and invest in go-to-market.
NEW YORK–(BUSINESS WIRE)–Atlan announced that it has closed its $50M Series B round at a $450M valuation led by Salesforce Ventures, Insight Partners, and Sequoia Capital India. Several founders in the data space participated in the round including Fivetran founder Taylor Brown and ThoughtSpot founder Ajeet Singh. Existing investors Waterbridge Ventures also participated in the round.
Atlan creates a unified discovery and collaboration experience, bringing context and trust to the entire modern data stack. “Today, data assets are not just tables, but code, models, BI dashboards, and pipelines,” said Prukalpa Sankar, Co-Founder of Atlan. “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. “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.
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. It gives Atlan a post-money valuation of $450 million.
Atlan started out as an internal project at datafor 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.
“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. “We are pioneering a new generation of metadata: going from passive, siloed data catalogs to active metadata platforms that can improve every tool in the data stack.”
Atlan is currently used by data teams at high growth companies and major enterprises like Plaid, WeWork, Postman, Delhivery, Unilever, and Scripps Health. “Atlan isn’t just a data catalog. It really is a home for our data people to collaborate, to discuss things, to work together,” said Larisa Gorokhova, Senior Director of Business Intelligence at CSE Insurance Group.
“Sequoia Capital India has been a part of Atlan’s journey since its early days, since it was part of Surge’s third cohort, and the team couldn’t be happier with the progress,” said Tejeshwi Sharma, Managing Director of Sequoia India. “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. Every Atlan customer we spoke to attested to the pace of product development and relentless focus on customer delight.”
“In every interaction with the Atlan team, their commitment to excellence shines through and it is clear to us that they are building a world class company. We couldn’t be more excited to double down,” said Teddie Wardi, Managing Director at Insight Partners.
Today, Atlan is a distributed, global team of over 100 people spread across 12 countries, including the US, India, UK, Canada, Nigeria, Singapore, and the Philippines. It plans to use this funding to expand its current team across all functions and accelerate its go-to market strategy. It also plans to facilitate an ESOP buyback of up to $1.5 million.
Atlan is a modern data collaboration workspace (like GitHub for engineering or Figma for design). By acting as a virtual hub for data assets ranging from tables and dashboards to models and code, Atlan enables teams to create a single source of truth for all their data assets and collaborate across the modern data stack through deep integrations with collaboration tools like Slack, data warehouses like Snowflake and Redshift, BI tools like Looker, Sisense, and Tableau, data science tools, and more. A pioneer in the space, Atlan was recognized by Gartner as a Cool Vendor in DataOps, as one of the top three companies globally. Visit www.atlan.com or follow us on Twitter @atlanHQ.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.
About Salesforce Ventures
Salesforce is the global leader in Customer Relationship Management (CRM), bringing companies closer to their customers in the digital age. Salesforce Ventures, the global investment arm of Salesforce, invests in the next generation of enterprise technology that extends the power of the Salesforce Platform. Salesforce Ventures is building the world’s largest ecosystem of enterprise cloud companies and extending that technology to customers. Portfolio companies receive funding, strategic advisory, and operating support, and can easily join Pledge 1% to make giving back part of their business model. Salesforce Ventures has invested in more than 400 companies, including DocuSign, GoCardless, Guild Education, nCino, Twilio, Zoom, and others across 22 countries since 2009. For more information, please visit www.salesforce.com/ventures.
About Sequoia Capital India
Sequoia helps daring founders build legendary companies, from idea to IPO and beyond. Sequoia India operates in Southeast Asia and India where we actively partner with founders from a wide range of companies, across categories, including BYJUs, Carousell, Druva, Gojek, OYO Rooms, Tokopedia, Truecaller, Zilingo, Zomato and more. We spur founders to push the boundaries of what’s possible. In partnering with Sequoia, startups benefit from over 49 years of tribal knowledge and lessons learned working with companies like Airbnb, Alibaba, Apple, Dropbox, Google, LinkedIn and Stripe early on. From the beginning, universities, endowments and other non-profits have been the backbone of our investor base, which means founders’ accomplishments make a meaningful difference. For more information on Sequoia’s work in India and SE Asia, visit sequoiacap.com/india.