Atlan raises $105 million in Series C funding, led by GIC and Meritech Capital

Funding Alert

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

Co-founder Prukalpa Sankar emphasized the critical importance of data readiness in today’s evolving technology landscape, saying, “Over the past year, boards have been constantly asking their CIOs and CDOs about their AI plans, who have realized that the main obstacle is not AI. models, but a lack of AI-ready data – data enriched with business context, trust and security. Atlan addresses this by creating a control plane for the data and AI stack, integrating trust and context into the digital fabric.

Atlan’s rapid growth is evidenced by a substantial increase in revenue and remarkable success in competitive tests. The company has seen a sevenfold increase in revenue over the past two years and achieved a 75% success rate in competitive tests, with corporate revenue growing 400% in the first quarter of 2024.

Varun Banka, co-founder of Atlan, emphasized the company’s mission to unify diverse sources of data, saying, “Across roles, structures and platforms, no two organizations treat data the same way: for data teams, different approaches are a feature, not a bug. So we created a solution that unifies data across warehouses, lake houses, vector databases, BI tools and AI agents.”

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Rob Ward, co-founder of Meritech Capital, praised Atlan’s innovative approach to modern data management, noting, «Atlan sets a new standard for modern data management, especially for enterprises with a cloud-focused 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 key role in shaping the future of data management.

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