Funding Boost for Data Collaboration Platform Atlan

Preeti Bali / 1:59 pm / March 20, 2024

A company specializing in data intelligence, Atlan, has secured $27.5 million in a recent financing round. The round, which concluded in multiple stages, was led by a prominent investment firm focused on cloud computing companies (Salesforce Ventures). Other participants included firms specializing in venture capital funding (WaterBridge Ventures, Grace Software, Peak XV Partners, and AT13 Fund).

Salesforce Ventures played a major role, contributing $15 million, followed by WaterBridge Ventures at $6.5 million. Public filings in Singapore reveal these investment details. Additional investors like Grace Software, Peak XV Partners, and AT13 Fund each contributed $1.5 million.

Atlan’s Financing Development: From Series B Success to Latest Valuation Increase

This funding round follows a successful Series B round in March 2022 for Atlan, which raised $50 million and valued the company at $450 million after the investment. Peak XV made an investment in the most current round, which started in August 2023 and was just completed with a contribution from WaterBridge Ventures. Current estimates place Atlan’s valuation between $480-500 million.

Over time, Salesforce, a key technology partner for Atlan, has been steadily increasing its ownership stake in the company. Filings in Singapore show that Salesforce Ventures’ ownership in Atlan has grown to 7.4%.

Salesforce Ventures has a history of investing in leading companies that shape the data and analytics landscape, including Airbyte, dbt Labs, Monte Carlo, Snowflake, and Starburst Data.

Utilizing Atlan’s Unified Platform to Unlock Data Potential

Atlan’s platform offers a unified environment for data discovery and collaboration, fostering trust and understanding within an organization’s data infrastructure. It combines metadata from various sources to give a unified view for data discovery, cataloging, lineage, and governance across all data assets.

Companies like Plaid, WeWork, Postman, Unilever, and Ralph Lauren all leverage Atlan’s services for their data teams. Industry sources estimate that the company’s annual recurring revenue (ARR) falls between $70 million and $80 million.

Atlan’s journey began as an internal project at a social impact organization (SocialCops) and was involved in over 200 data projects, including India’s National Data Platform used by the Prime Minister’s office.

More Stories