Atlan raises $27.5M funding from Salesforce Ventures, others
Salesforce Ventures, the venture arm of the CRM software company, has invested $15 million in Atlan in a new round of funding. The round also saw participation from WaterBridge Ventures, Peak XV and others.
Gaurav Tyagi
Tuesday March 19, 2024 , 2 min Read
Data intelligence startup Atlan has raised $27.5 million in a funding round led by Salesforce Ventures, with participation from WaterBridge Ventures, Grace Software, Peak XV Partners, and AT13 Fund in a fresh round of funding concluded in multiple tranches.
In this round, Salesforce Ventures invested $15 million in the startup, followed by WaterBridge Ventures with $6.5 million, according to Atlan’s Singapore regulatory filings. Grace Software invested $3 million while Peak XV Partners and AT13 Fund invested $1.5 million each.
In its previous fundraise in March 2022, the New York-based company had raised $50 million in Series B funding at a post-money valuation of $450 million. The new round started in August 2023 with investment from Peak XV and concluded with the tranche from WaterBridge Ventures this month. As per our estimates, Atlan has been valued in the range of $480-500 million.
Infographic designed by Nihar Apte.
Over the past few years, Salesforce, Atlan’s technology partner, has been steadily increasing its stake in the company. Salesforce Venture’s stake in Atlan has now reached 7.4%, according to Atlan’s Singapore filings.
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.
Founders of Atlan
Atlan creates a unified discovery and collaboration experience, bringing context and trust to the entire modern data stack. It stitches together metadata from various sources like Snowflake, dbt Labs, Databricks, Looker, Tableau, Postgres, etc to create a unified data discovery, cataloguing, lineage, and governance experience across data assets.
Atlan's services are currently being used by the data teams of companies including Plaid, WeWork, Postman, Unilever, and Ralph Lauren. The company’s Annual Recurring Revenue (ARR) ranges between $70 million and $80 million, as per sources.
The company 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.
(The article was updated for accuracy and additional information.)
Edited by Kanishk Singh