[Funding alert] Atlan raises $16M Series A investment led by Insight Partners
Data democratisation startuphas raised $16 million Series A funding led by global venture capital and private equity firm, Insight Partners. The round also saw participation from Bob Muglia, former CEO of ; Bob Moore and Jake Stein, Founders of Stitch; Auren Hoffman, Founder of and Liveramp; and Akshay Kothari, COO of Notion.
Existing investors Sequoia Capital India’s Surge and Waterbridge Ventures also participated in the round.
Atlan plans to use the funding to expand its current team and to strengthen its product, engineering, and marketing teams in India and is planning to double its team strength in 2021.
Prukalpa Sankar, Co-founder of Atlan, said: “Today, data assets are not just tables, but code, models, BI dashboards, and pipelines. At Atlan, we are reimagining the human experience with data — why can’t data assets be shared as easily as sharing a link on Google Docs, or if Google Analytics can tell you the usage on a website, why can’t we do the same for our data?”
As a part of the investment, Teddie Wardi, Managing Director, Insight Partners, will join Atlan’s board of directors.
In a press statement shared by the company, he said: “As the modern data stack becomes mainstream, a collaborative layer that acts as a glue across a variety of tools like Snowflake, Databricks, BI tools, and AI/ML applications, is becoming a necessity."
He said Atlan is bringing a truly collaborative approach to the modern data stack, leading the way as Figma did for design teams or Github did for engineering teams.
Atlan was started in 2018 as an internal project at data for good firm, SocialCops, and was incubated across 200+ data projects, including India’s National Data Platform, DISHA, which has been used by Prime Minister Narendra Modi.
The company was recently recognised as a Gartner Cool Vendor 2020 in DataOps and became one of the top three companies globally to make it to the list.
In a statement, the company said, since emerging from stealth, the company has grown rapidly, reporting 16X growth within the last two quarters. Atlan is currently used by teams at large enterprises like Unilever as well as high-growth startups likeand .
Prudhvi Vasa, Analytics Leader at Postman, said: “Atlan has become a valuable resource for the data team to get context about data. In the long run, for our data democratisation vision, we see the entire organisation working towards analysing the data and taking actions in a coherent, seamless fashion."
"Having Atlan in the mix of our tool-chains opens the possibility of providing data context at scale, thereby enabling the entire organisation to be data-aware and data-driven,” he said.
“We are excited to partner with Insight as their significant expertise in backing ScaleUp SaaS companies will help accelerate our growth. We will be investing heavily in growing our product & engineering team in India and take great pride in pioneering a new wave of companies in India that are building world-class products, from India for the rest of the world,” said Varun Banka, Co-founder of Atlan.