Atlan Raises $105 Million in Series C Funding Round Led by GIC

Atlan, a rapidly growing leader in data and AI governance, has announced a $105 million Series C funding round today. The round was led by GIC, Singapore’s sovereign wealth fund, and co-investor Meritech Capital, known for investing in groundbreaking companies such as Snowflake and Datadog.

Atlan’s existing investors, Salesforce Ventures and PeakXV Partners, also participated in the round, bringing the company’s total raised amount to over $206 million. This includes investments from renowned institutional investors like Insight Partners and Waterbridge Ventures.

The new funding comes at a time when Atlan’s revenue has increased by over 7 times in the last 2 years, with a 75% success rate in competitive trials and a remarkable 400% growth in enterprise sales during Q1 2024, in response to the high demand for AI data readiness and governance.

Atlan’s clientele currently includes major industry players such as Cisco, Autodesk, Unilever, Ralph Lauren, FOX, News Corp, Nasdaq, NextGen, Plaid, and HubSpot.

“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,” said Prukalpa Sankar, co-founder of Atlan. “Atlan is addressing this by building the control plane for the data and AI stack, integrating trust and context into the digital fabric.”

In the current landscape, where AI and data play a significant role, strong data governance is vital. According to Gartner’s 2024 research, over half of Chief Data Officers and Chief Analytics Officers are increasing investments in AI, while an equal number are prioritizing data governance – the two are closely intertwined.

However, data privacy, data lineage, and data quality are major barriers to successful AI implementation, as reported by IBM and AWS studies.

As organizations handle larger and more diverse datasets from multiple sources, the process of cataloging and utilizing this data across the enterprise becomes a manual and cumbersome task.

This is further complicated by AI, where reliable and context-rich data is the biggest obstacle for companies seeking to implement AI in their operations. Atlan offers a solution to this challenge with its advanced platform for data and AI governance.

It acts as a control and collaboration layer on top of a business’s fragmented data infrastructure, seamlessly integrating it using cataloged metadata.

This allows data and business teams to easily locate, trust, and manage AI-ready data. Atlan streamlines data management by bringing together data producers and consumers from all areas of the organization.

Disclaimer: This information is covered based on the latest research and development available. However, it may not fully reflect all current aspects of the subject matter.

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