Atlan Raises $105M in Series C Funding, Led by GIC and Meritech Capital

• ByStartupStory     |    May 8, 2024

Atlan, a pioneering data infrastructure company, announced today that it has successfully secured $105 million in its Series C funding round. The investment was spearheaded by GIC, a prominent Singapore-based sovereign wealth fund, and co-investor Meritech Capital Partners, known for early backing of industry giants such as Snowflake and Datadog. Existing investors Salesforce Ventures and Peak XV Partners also participated, alongside contributions from Insight Partners and Waterbridge Ventures, bringing Atlan’s total funding to over $206 million.

Co-founder Prukalpa Sankar highlighted the critical importance of data readiness in today’s evolving technological landscape, stating, “Over the past year, boards have consistently asked their CIOs and CDOs about their AI roadmaps, who have realized that the main hurdle isn’t AI models but the lack of AI-ready data—data enriched with business context, trust, and security. Atlan is addressing this by building the control plane for the data and AI stack, integrating trust and context into the digital fabric.”

Atlan’s rapid growth is evidenced by its substantial revenue increase and remarkable success rate in competitive trials. The company has experienced a sevenfold surge in revenue over the past two years and achieved a 75% success rate in competitive trials, with enterprise sales soaring by 400% in the first quarter of 2024.

Varun Banka, Atlan’s Co-founder, emphasized the company’s mission to unify diverse data sources, stating, “Across roles, structures, and platforms, no two organisations handle data the same way: for data teams, diverse approaches are a feature, not a bug. So, we built a solution that unifies data across warehouses, lakehouses, vector DBs, BI tools, and AI agents.”

Rob Ward, Co-founder of Meritech Capital, praised Atlan’s innovative approach to modern data governance, noting, “Atlan is setting a new standard for modern data governance, especially for enterprises with a cloud-first data strategy.”

Atlan’s recognition as a leader in the recent Forrester Wave for Enterprise Data Catalogs forDataOps, along with securing leadership positions in various G2 categories, underscores its pivotal role in shaping the future of data management.

Follow Startup Story