Data catalog company Alation Inc. collared $50 million in a Series C funding round led by Sapphire Ventures. Alation offers its users access to a “curated catalog of internal and external data” that helps users of self-service analytics make the right data choices that maximize business value.
Here is a report on Alation’s latest funding round from GlobeNewswire:
The Series C funding round will be used to further Alation’s leadership in the Machine Learning Data Catalog market and accelerate engineering investment in the award-winning Alation Data Catalog. In the last year, Alation has seen triple-digit revenue growth and exceeded 100 production implementations, including new customers Daimler, Fox Networks, and Hilton Hotels. At the same time, existing Alation customers, like eBay, Munich Re, and Pfizer, are expanding their usage of Alation from hundreds of daily users to thousands – leading to a net expansion rate for Alation of 47 percent.
“As growth investors, we look for companies demonstrating rapid and sustainable expansion with differentiated technology and incredible market potential. Organic demand for data catalogs today is tremendous, and Alation is leading the charge on taking advantage of this organic need to bridge data, analytics, and business outcomes. With their rapid expansion, Alation has the opportunity for a long-term sustainable, stand-alone analytics company focused on cataloging,” said Anders Ranum, partner at Sapphire Ventures. “Alation is in the rare position of having designed a transformational product and go-to-market strategy that will drive value from years of existing IT technology investments. We are excited to provide the support that will accelerate Alation’s ability to capture this tremendous market opportunity.”
Alation is the leader in the data cataloging category and was the first to bring a data catalog to market. The Alation Data Catalog combines machine learning and human collaboration to drive business outcomes from self-service analytics, including analyst productivity and trusted data for executive decision-making. The current round of financing validates Alation’s market leadership achieved through technical and business model innovation, as Alation accelerates global adoption and continues to close the gap between data analysis and confident data-driven decisions. The company will continue to expand the capabilities of the data catalog to meet a wide range of users and use cases, with the investment driving a doubling of engineering resources and funding research and development initiatives that build on Alation machine learning innovations, like Behavior I/O and SmartSuggest.
