[Funding alert] Atlan raises $50M at $450M valuation led by Salesforce Ventures, Sequoia Capital India, and others
Data intelligence startuphas raised $50 million Series B funding at a valuation of $450 million led by Salesforce Ventures, Insight Partners, and Sequoia Capital India.
The round also saw participation from founders in the data space participated in the round including Fivetran founder Taylor Brown and ThoughtSpot founder Ajeet Singh.
The company 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.
Prukalpa Sankar, Co-founder of Atlan, said: “Today, data assets are not just tables, but code, models, BI dashboards, and pipeline. 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.”
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.
“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.
Atlan started out as an internal project at Data for 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.
“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.
Atlan is currently used by data teams at high growth companies and major enterprises like Plaid, WeWork, Postman, Delhivery, Unilever, and Scripps Health.
“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.
Tejeshwi Sharma, Managing Director of Sequoia India, said, 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.
“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.
Today, Atlan is a distributed, global team of over 100 people spread across 12 countries, including the US, India, the UK, Canada, Nigeria, Singapore, and the Philippines.
“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.