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Atlan achieves $105 million for its level of data control, as LLM increases the importance of data

For founders Atlas, a data management startup, data has always been at the heart of what they do, even before they started the company. In fact, co-founders Prukalpa Sankar and Varun Bank started building India’s national data platform called Social policemen. So it probably shouldn’t come as a surprise that they’ve developed a tool to control and collaborate around data, bringing together myriad data sources and bringing control to the data chaos within large organizations.

The company was founded in 2020, but the data problem has only grown in importance since then, and today, as companies try to get their data house to take advantage of generative artificial intelligence, it’s even more important. Perhaps that’s why the company announced a $105 million investment on Wednesday at a healthy $750 million valuation. The startup seems to be in the right place at the right time, solving the right problem – and investors want to take advantage of that.

Atlan is built on the premise that there is inherent complexity in every organization’s data ecosystem. Atlan’s goal is to bring order to this and help people understand that it is possible to see the bigger picture, even though there are different tools and data repositories.

«What we do at Atlan is scan your entire data ecosystem. We connect with Snowflake and Databricks, your BI tools, your AI LLM models and your native systems like Salesforce, and create a single source of truth, essentially a map of your API ecosystem,” Sankar told TechCrunch.

The idea is to build a data structure that helps people understand how data connects across the organization and makes it easier to collaborate on data, search through it, and solve problems, like a number not updating on a BI dashboard, in an automated way.

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Sankar says companies spend too much time trying to make sense of the data they have, while trying to ensure it’s delivered accurately to dashboards and accessible to the employees who need it most.

But the company doesn’t get this kind of money just based on good times. It has grown ARR 7x in the last 2 years, 31x in the last 3 years – bearing in mind that the company has only been around for 4 years. The startup also reports that it has achieved an 80% win rate in competitive trials in 2023.

While they wouldn’t discuss the number of customers they have, customer acquisitions include Nasdaq, HubSpot, Elastic, Dr. Martens and Porto Seguro, to name just a few.

Atlan currently has 275 employees, and considering the newly found capital, plans to expand. While Sankar wasn’t ready to commit to a specific number of new hires, she said they are hiring.

Today’s round was led by GIC and Meritech Capital along with existing investors Salesforce Ventures and PeakXV. Previous investors include Insight Partners and Waterbridge Ventures. The company has now raised a total of $206 million.

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