Atlan Raises $105M to Tackle Enterprise ‘Data Chaos’ Through a Unified Control Platform

Mon May 13, 2024 - 7:10am GMT+0000

In a substantial boost to its efforts to streamline enterprise data management, Atlan, a San Francisco-based startup, announced a major milestone with the successful closure of its Series C funding round. The company has raised $105 million, elevating its valuation to over $750 million. This funding round was led by Singapore’s sovereign wealth fund GIC and Meritech Capital, and saw continued participation from existing investors including Salesforce Ventures and PeakXV Partners.

Expanding Solutions for Data Chaos
Atlan aims to use the new capital to enhance its product offerings and expand its operational footprint. The company’s core product acts as a unified control plane, seamlessly integrating various data infrastructures—from data platforms like Databricks to customer relationship management systems such as Salesforce 360.

As enterprises grapple with the surge in data generated by a multitude of tools across their operations, Atlan’s solution provides a much-needed framework for organizing structured and unstructured data. By 2025, an estimated 80% of global data will reside within enterprise systems, according to the Digitization of the World study. Addressing this, Atlan’s platform is designed to provide clarity and context, making data easily accessible and manageable.

Atlan’s Innovative Approach to Data Management
Founded in 2020 by Prukalpa Sankar and Varun Banka, Atlan began as an internal project aimed at overcoming data management hurdles in their previous startup. The company has since evolved, offering robust solutions to common data challenges faced by enterprises:

Metadata Management: Atlan’s “Metadata Lakehouse” underpins their platform, equipped with native connectors that sync seamlessly with widely-used data tools and systems. This enables the collection of a diverse range of metadata types—including technical, social, operational, and compliance metadata.
Trust and Access Management: On top of its foundational metadata layer, Atlan implements a trust layer that enhances data security and governance. This includes features for access management, data estate analytics, and data tagging and classification.
Enhanced Data Utilization: The platform also includes personalized modules for data discovery, business metrics glossary, and no-code data lineage. These tools empower data engineers and business teams to collaboratively navigate and optimize data utilization.
This multifaceted approach not only helps in managing data but also integrates trust and context into the digital fabric of enterprises, a critical need in the age of AI-driven business processes.

Key Highlights of Atlan’s Journey
Rapid Revenue Growth: In the last two years, Atlan has seen its revenues increase by more than sevenfold.
High Profile Clientele: The company’s client base includes major names like Cisco, Autodesk, Unilever, Ralph Lauren, and Nasdaq.
Operational Expansion: Part of the new funding will support key product developments and further operational expansion to meet growing market demand.
Competitive Edge: Atlan claims a competitive win rate of 75% against industry counterparts such as Informatica, Collibra, and Alation.
Prukulpa Sankar, co-founder of Atlan, emphasizes the broader implications of their technology. “Data Engineers can visualize detailed lineage charts, foresee impacts of data changes, and automatically alert business users who may be affected. Meanwhile, business teams can locate trusted data and utilize curated data products tailored to their roles,” Sankar explains.

The company’s innovative approach also includes a rules-based automation tool and the industry’s first AI copilot for metadata creation, setting it apart from competitors who rely more on manual metadata collection methods.

Looking Forward
With the latest influx of capital, Atlan is well-positioned to continue its mission of resolving the challenges of data chaos for enterprises. As businesses increasingly prioritize AI readiness and data democratization, Atlan’s comprehensive solutions are set to become even more indispensable.

The commitment to improving how enterprises manage and leverage their data promises not only to enhance operational efficiencies but also to drive significant business transformations in the data-driven landscapes of the future.