California- and Bengaluru-headquartered Unravel Data, a DataOps observability platform, on Tuesday announced that it has secured $50 million in its Series D funding round led by Third Point Ventures, the investment arm of US-based Third Point LLC.
Bridge Bank and existing investors, including Menlo Ventures, Point 72, GGV Capital and Harmony Capital, also participated, bringing the total amount of funding raised by Unravel Data to $107 million till date.
In a statement, Unravel Data said it plans to accelerate tech talent hiring in India and will be tripling its workforce with an emphasis on artificial intelligence, big data and cloud DevOps skills.
As part of the new funding, Curtis McKee, partner at Third Point Ventures, will be joining Unravel Data’s board of directors, the statement added.
“Data engineers and data scientists currently spend more than half their day debugging and troubleshooting issues on the thousands of data pipelines in their environment,” said Kunal Agarwal, CEO of Unravel Data. “Just as the DevOps market united the practice of software development and operations a decade ago to transform the application lifecycle, data teams require the same kind of full-stack visibility, automation and actionable intelligence that meet their needs around data pipeline performance, cost and quality.”
Founded in 2013 by Kunal Agarwal and Dr Shivnath Babu, Unravel leverages AI, machine learning and advanced analytics to provide modern data teams with the actionable recommendations they need to turn data into insights.
The startup claims that numerous Fortune 100 companies, including two of the top five global pharmaceutical companies and three of the top 10 financial institutions in the world, rely on its platform to gain visibility across their data stacks, proactively troubleshoot and optimise their data workloads, and define guardrails to govern costs and improve predictability.
Unravel Data announced the opening of its Hyderabad office last week, its second location in India after Bangalore.