Atlan Secures $27.5 Million Funding Led by Salesforce Ventures
Data intelligence startup Atlan has successfully raised $27.5 million in a recent funding round spearheaded by Salesforce Ventures,
with notable participation from other prominent investors. Let’s delve into the details of this significant funding milestone:
Investment Breakdown and Participation
The funding round witnessed substantial contributions from leading investors including WaterBridge Ventures, Grace Software, Peak XV Partners, and AT13 Fund.
Salesforce Ventures emerged as the primary investor, injecting $15 million into the startup. WaterBridge Ventures followed suit with an investment of $6.5 million, while Grace Software, Peak XV Partners, and AT13 Fund contributed $3 million, $1.5 million each, respectively.
This multi-tranche funding, as per Atlan’s regulatory filings in Singapore, underscores the confidence and support garnered by the startup within the investor community.
Milestone Achievements and Valuation
Atlan’s latest funding milestone marks a significant leap forward in its growth journey. The startup, which previously raised $50 million in Series B funding in March 2022, now boasts a post-money valuation estimated to be in the range of $480-500 million.
The funding journey, initiated in August 2023 with an investment from Peak XV, culminated with the recent tranche from WaterBridge Ventures. This impressive valuation highlights Atlan’s promising trajectory and market potential.
Strategic Partnership with Salesforce Ventures
Over the years, Atlan has forged a robust partnership with Salesforce, its technology partner. Notably, Salesforce Ventures has significantly increased its stake in Atlan, with its current holding standing at 7.4%, as per Atlan’s filings in Singapore.
This strategic collaboration underscores Salesforce Ventures’ confidence in Atlan’s vision and capabilities. Salesforce Ventures has a track record of investing in pioneering companies shaping the modern data and analytics landscape, further solidifying Atlan’s position in the industry.
Innovative Solutions Driving Data Discovery and Collaboration
Atlan distinguishes itself by offering a unified discovery and collaboration experience, enhancing context and trust within the modern data stack. Leveraging metadata from diverse sources such as Snowflake, dbt Labs, Databricks, Looker, Tableau, and Postgres,
Atlan facilitates seamless data discovery, cataloging, lineage, and governance. This comprehensive approach empowers organizations to harness the full potential of their data assets, driving informed decision-making and operational efficiency.
Clientele and Market Presence
Atlan’s innovative solutions have garnered widespread adoption among leading organizations across various industries. Notable clients utilizing Atlan’s services include industry giants like Plaid, WeWork, Postman, Unilever, and Ralph Lauren.
With an Annual Recurring Revenue (ARR) estimated to range between $70 million and $80 million, Atlan continues to solidify its foothold in the data intelligence landscape.
The startup’s origins trace back to an internal project at SocialCops, a data-for-good firm, incubated across over 200 data projects, including India’s National Data Platform utilized by the Prime Minister.
In conclusion
Atlan’s latest funding milestone not only underscores its financial strength but also validates its innovative approach to data intelligence.
With robust investor backing and strategic partnerships, Atlan is well-positioned to drive further innovation and transformation within the data ecosystem, unlocking new possibilities for organizations worldwide.
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