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AI Startup Atlan Raises USD 105 Mn in Series C Round Led by GIC and Meritech Capital Existing investors Salesforce Ventures and Peak XV Partners also participated in the capital round, increasing Atlan's total fundraising to almost USD 206 million.

By Entrepreneur Staff

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[L-R] Prukalpa Sankar and Varun Banka, Co-founders of Atlan

AI startup Atlan has announced the raising of USD 105 million in a Series C funding round led 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.

Existing investors Salesforce Ventures and Peak XV Partners also participated in the capital round, increasing Atlan's total fundraising to almost USD 206 million. According to the company, the round was also supported by investors Insight Partners and Waterbridge Ventures.

Prukalpa Sankar, Co-founder of Atlan, said, "Over the past year, boards have consistently asked their CIOs and CDOs about their AI roadmaps, who have realised 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."

Founded in 2019 by Prukalpa Sankar and Varun Banka, Atlan connects diverse sources with categorised metadata by serving as a central hub atop an organisation's data infrastructure. Teams can now locate, trust, and manage AI-ready data with ease, which promotes cooperation throughout the entire company.

Varun Banka, Atlan's Co-founder, stated, "Across roles, structures, and platforms, no two organisations handle data the same way: for data teams, diverse approaches are a feature, not a bug. So, we built a solution that unifies data across warehouses, lake houses, 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."

Cisco, Autodesk, Unilever, Ralph Lauren, FOX, News Corp, Nasdaq, NextGen, Plaid, and HubSpot are a few of its clients.

The platform claims that over the past two years alone, it 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.

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

In the most recent Forrester Wave for Enterprise Data Catalogs for DataOps, Atlan was identified as a leader. In addition, Atlan has attained leadership positions in five G2 categories, such as active metadata management, data governance, and data catalogs.

Entrepreneur Staff

Entrepreneur Staff

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