Singapore-based Atlan, the next-generation platform for data and AI governance, on Wednesday announced a $105-million Series C funding round led by sovereign wealth fund GIC alongside US-based Meritech Capital.
Existing investors Salesforce Ventures and Peak XV Partners also participated, bringing Atlan’s total funds raised to date to more than $206 million. This includes investments from leading institutional investors like Insight Partners and Waterbridge Ventures.
Meritech is amongst the leading providers of late-stage venture capital to category-defining private technology companies. They were the early backers of disruptors like Snowflake and Datadog.
Atlan’s revenues have increased more than seven times in the past two years, with a 75% win rate in competitive trials and a massive 400% growth in enterprise sales in Q1 2024 due to the growing demand for AI data readiness and governance, the company claimed.
Its customer base includes industry giants like 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, realising that the main hurdle isn’t AI models but the lack of AI-ready data—data enriched with business context, trust, and security,” Prukalpa Sankar, co-founder of Atlan, said in the release.
“Atlan is addressing this by building the control plane for data and AI stack, integrating trust and context into the digital fabric,” he added.
Within every organisation, more departments and employees — business and technical alike — are working with data.
In an environment where data sets and sources are exploding within disconnected systems and silos, cataloging data for discovery, use, and understanding is becoming a highly manual and cumbersome task — a challenge exacerbated by AI.
Next-generation platform for data and AI governance from Atlan addresses this challenge. It is a technology layer that functions as a control plane and collaboration layer on top of a business’s disparate data infrastructure, allowing teams to discover, trust, and govern AI-ready data via cataloged metadata.
Atlan centralises data management, uniting data producers and consumers throughout 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’s 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.