July 20, 2024

Atlan raises $50Mn Series B led by Salesforce Ventures, Sequoia, and Insight


Atlan recently announced the closure of a $50M Series B round led by Insight Partners, Salesforce Ventures, and Sequoia Capital India. Several founders in the data space participated in the round including Fivetran founder Taylor Brown and ThoughtSpot founder Ajeet Singh.

From L To R: – Prukalpa Sankar, Co-Founder of Atlan and Varun Banka, Co-Founder Atlan

Atlan creates a unified discovery and collaboration experience, bringing context and trust to the entire modern data stack.

Prukalpa Sankar, Co-Founder of Atlan stated: “Today, data assets are not just tables, but code, models, BI dashboards, and pipelines. 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.”

Varun Banka, Co-Founder of Atlan stated: “Traditionally, tooling in the space has focused on collecting metadata but has failed in helping customers actually drive value from metadata. 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.”

Alex Kayyal, Managing Partner of Salesforce Ventures stated: “Data and analytics are mission-critical to navigating rapidly-changing circumstances — informing decisions, seeing opportunities, and navigating change. 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. 

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. It gives Atlan a post-money valuation of $450 million.

Atlan claims that it has been currently used by data teams at high-growth companies and major enterprises like Plaid, WeWork, Postman, Delhivery, Unilever, and Scripps Health.

Larisa Gorokhova, Senior Director of Business Intelligence at CSE Insurance Group stated: “Atlan isn’t just a data catalog. It really is a home for our data people to collaborate, to discuss things, to work together.”

Tejeshwi Sharma, Managing Director of Sequoia India stated: “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. 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. Every Atlan customer we spoke to attested to the pace of product development and relentless focus on customer delight.”

Teddie Wardi, Managing Director at Insight Partners stated: “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.”

Atlan also added that its internal project at data for good firm SocialCops 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.

Atlan also claims that it is a distributed, global team of over 100 people spread across 12 countries, including the US, India, UK, Canada, Nigeria, Singapore, and the Philippines. It 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.

Press Release received on Mail



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