Atlan secures $105M in Series C funding led by GIC, Meritech Capital

Data and AI governance firm Atlan has secured $105 million in a Series C funding round spearheaded by Singapore-based sovereign wealth fund GIC, along with co-investor Meritech Capital Partners, which is known for its early support of industry giants Snowflake and Datadog. 

The funding round also witnessed participation from existing investors Salesforce Ventures and Peak XV Partners, bringing Atlan's total fundraise to more than $206 million. The company said investors including  Insight Partners and Waterbridge Ventures also contributed to the round.

"Over the past year, boards have consistently asked their CIOs and CDOs about their AI roadmaps, who have realized that the main hurdle isn't AI models but the lack of AI-ready data—data enriched with business context, trust, and security. Atlan is addressing this by building the control plane for the data and AI stack, integrating trust and context into the digital fabric," said Prukalpa Sankar, Co-founder of Atlan. 

Over the past two years alone, Atlan has experienced a sevenfold surge in revenue, with a 75% success rate in competitive trials and a 400% increase in enterprise sales during the first quarter of 2024. 

Some of its clientele are Cisco, Autodesk, Unilever, Ralph Lauren, FOX, News Corp, Nasdaq, NextGen, Plaid, and HubSpot. 

Gartner's 2024 research revealed that over half of chief data officers and chief analytics officers are boosting their investments in AI while focusing on the enhancement of data governance. However, studies conducted by IBM and AWS highlight critical challenges obstructing generative AI implementations, including concerns regarding data privacy, data lineage, and data quality.

Founded in 2019 by Prukalpa Sankar and Varun Banka, Atlan acts as a central hub atop a company's data infrastructure, stitching together disparate sources with cataloged metadata. This allows teams to easily find, trust, and govern AI-ready data, fueling collaboration across the organisation.

"Across roles, structures, and platforms, no two organisations handle data the same way: for data teams, diverse approaches are a feature, not a bug,” said Atlan Co-founder Varun Banka. 

“So, we built a solution that unifies data across warehouses, lakehouses, vector DBs, BI tools, and AI agents. In doing so, Atlan empowers data teams to leverage the entirety of their data at high velocity and scale by ensuring its quality, accuracy, and governance. This means data teams can efficiently and effectively collaborate on data that would be otherwise siloed for various use cases, including populating AI models with trustworthy data,” he added.  

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"Atlan is setting a new standard for modern data governance, especially for enterprises with a cloud-first data strategy," said Rob Ward, Co-founder of Meritech Capital. Ward is known for his investments in several data companies including Snowflake, Looker, and Tableau.

Atlan has been recognised as a leader in the recent Forrester Wave for Enterprise Data Catalogs for DataOps, and has secured leadership positions in five G2 categories including data governance, data catalogs, and active metadata management.