Redwood City-based Alation Inc., specialised in enterprise data intelligence has netted $123 million in Series E funding. With this, the total funding raised by the company accounts for $340 million and the unicorn company has exceeded its valuation to $1.7 billion.
The financing round was led by Thoma Bravo, Sanabil Investments (which recently backed another Silicon Valley company Classera), and Costanoa Ventures alongside participation from new investor Databricks Ventures. Also, existing and other investors, including Dell Technologies Capital, Hewlett Packard Enterprise (HPE), Icon Ventures, Queensland Investment Corporation, Riverwood Capital, Salesforce Ventures, Sapphire Ventures, and Union Grove participated in the round.
The fresh capital will accelerate Alation’s growth and global expansion and drive its strategic product innovation as the demand for data intelligence platforms surges. The financing will further bolster Alation’s leadership position in the market and drive.
“We raised $123 million because we wanted to continue to invest and give our customers the world-class data intelligence experience they deserve,” said Satyen Sangani, CEO and co-founder, Alation. “The confidence from our investors reinforces that Alation is the leading data intelligence platform and we are well positioned to capitalize on opportunities in our expanding market.”
Robert (Tre) Sayle, a Partner at Thoma Bravo said, “Data intelligence is a high-growth market and Satyen and his talented team have built a leading platform trusted by enterprises worldwide. We’re excited to lead Alation’s Series E round and support the company as it continues its impressive business growth, product innovation, and market leadership.”
A spokesperson of Sanabil Investments said, “Sanabil is proud to support a high-quality company with a best-in-class team, product offering, and execution capabilities. By serving nearly 450 enterprise customers and generating $100+ million in ARR, Alation has demonstrated its ability to scale and drive the adoption of data culture across industries. We are excited to co-lead Alation’s Series E round alongside Thoma Bravo and Costanoa, showing the confidence investors have in Alation’s ability to build on its success as a leader in data intelligence.”
“We knew Alation had extraordinary promise the moment we saw it,” said Greg Sands, Founder and Managing Director, Costanoa Ventures. “We are proud to co-lead this funding round alongside Thoma Bravo and Sanabil, and support Alation as it drives the evolution of data intelligence.”
“We are excited to invest in and deepen our longtime partnership with Alation,” said Andrew Ferguson, VP, Corporate Development & Ventures, Databricks. “Now more than ever, an organisation’s data is one of its most critical assets. With Alation, data teams have a stronger understanding of the trusted data in their lakehouse that can be used to drive business value through analytics and AI/ML.”
What challenge does Alation tackle?
Reportedly, the data integration and intelligence software market is valued at over $7.9 billion and is growing toward $11.6 billion over the next four years. Apparently, organisations collect massive amounts of data to track and understand buyer behaviour, and to manage supply chains, inventory, sales, customer service, and more.
To transform the raw data into actionable insights, enterprises need a data intelligence platform to find, understand, trust, and use data collaboratively.
California-based Alation founded by Satyen Sangani, Aaron Kalb, Feng Niu, and Venky Ganti in 2012, solves this problem for nearly 450 enterprise customers, including AbbVie, Cisco, General Mills, Munich Re, NASDAQ, Pfizer, Raiffeisen Bank, Salesforce, The Very Group, Vattenfall, Virgin Australia, and more.
Its signature software, the Alation Data Catalog, serves enterprises in organising and consolidating their data. Its solutions are focused on data governance, analytics, and data management.
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