Singapore Data Platform Secures $105M Investment, Achieves 7x Revenue Growth

Singapore-based startup Atlan has successfully secured $105 million in a Series C funding round aimed at enhancing how businesses manage their data infrastructure. Founded in 2018, Atlan has crafted a robust data governance platform that empowers data professionals to extract valuable insights from diverse sources, particularly in the context of building and training artificial intelligence models.

The funding round was led by GIC, Singapore’s sovereign wealth fund, with participation from notable investors including Snowflake, Meritech Capital, and Datadog, alongside returning backers such as Salesforce Ventures and PeakXV Partners. With this latest capital infusion, Atlan's total funding has reached an impressive $206 million.

Atlan's rapid growth is evident, as the company reported a staggering sevenfold increase in revenue over the past two years, with a remarkable 400% growth in enterprise sales just in the first quarter of 2024. Co-founder Prukalpa Sankar highlighted a key trend: “Over the past year, boards have been increasingly asking their chief information officers and chief data officers about their AI road maps. They have come to realize that the primary challenge lies not in AI models themselves, but in the absence of AI-ready data. This means data that is enriched with business context, trust, and security.” To tackle this issue, Atlan aims to create a control plane for the data and AI stack, embedding trust and context into its technological framework.

The Atlan platform serves as a centralized hub for data management, enabling engineers to navigate seamlessly through the organization’s entire data landscape to uncover pertinent insights. Its integration capabilities with popular collaboration tools like Slack and data storage solutions such as Snowflake's data warehouse allow teams to retrieve insights from data distributed across the entire enterprise.

According to Varun Banka, co-founder of Atlan, “No two organizations manage data in the same manner. We have developed a solution that consolidates data across various environments, including warehouses, lakehouses, vector databases, business intelligence tools, and AI agents. By doing so, Atlan enables data teams to harness their entire data ecosystem efficiently and at scale, while ensuring that the data remains trustworthy, accurate, and well-governed.”

Esteemed brands like Ralph Lauren, Cisco, and Unilever are already leveraging the platform's capabilities. Other notable clients include Fox, News Corp, and HubSpot. Ashfaq Mohiuddin, HubSpot’s Vice President for Enterprise Data and AI, emphasized the importance of data in enhancing customer experiences in this AI-driven era: “Data is pivotal for improving customer experiences, and Atlan is the only platform that empowers us to deliver this value to HubSpot customers from day one. With its open and extensible foundation, our technical team can effectively build applications and govern our data ecosystem.”

Atlan’s innovative approach to data governance and management positions it as a critical player in the ongoing evolution of business intelligence and AI technologies. As more organizations seek to harness the power of data, Atlan is poised to lead the way in providing a structured and efficient solution for unlocking data potential.