Data collaboration software provider Atlan Pvt Ltd has raised $50 million in Series B round from Salesforce Ventures, Insight Partners and Sequoia Capital India, the company said.
The post-money valuation of the company is now at $450 million, a jump of 4.5X from its last Series A fundraise in May 2021. At the time, Insight Partners led a $16 million fundraise alongside Waterbridge Venture and Sequoia Surge. Bob Muglia, former CEO of Snowflake invested in Atlan in its Series A round.
The Series B capital was raised in the firm's Singapore entity Atlan Pvt Ltd, a subsidiary of US incorporated Atlan Inc.
The proceeds of the fundraise will be used to further scale the team, product and engineering, and go-to-market strategies, Prukalpa Sankar, cofounder Atlan. The company also plans to facilitate an Esop (Employee Stock Option) buyback of up to $1.5 million, it said.
The company said Fivetran founder Taylor Brown and ThoughtSpot founder Ajeet Singh have also participated in the latest round.
Atlan's Software-as-a-Service (SaaS) product helps data teams within corporations collaborate and work together.
“Today, data assets are not just tables, but code, models, BI dashboards, and pipelines,” Sankar, said. “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.” she added.
The company grew 10X over 2021, Sankar said.
“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,” he said.
Atlan emerged out of social data aggregator firm SocialCops and was incubated across over 200 data projects, including India’s National Data Platform used by the Prime Minister.
“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,” Banka said.
Atlan’s clients include companies like Plaid, WeWork, Postman, Delhivery, Unilever, and Scripps Health, the firm said.
It has a global team of over 100 people spread across 12 countries, including the US, India, UK, Canada, Nigeria, Singapore, and the Philippines.
