Atlan is a data collaboration software startup that aims to seize the opportunity from large corporations that want to make their databases suitable for artificial intelligence. Singapore’s GIC and US-based Meritech Capital valued this AI startup at $750 million in the funding round. This value nearly doubled compared to Last year, when Atlan raised a total fund of $50 million, valued at $450 million.
This US-based AI startup is led by Indian founders Prukalpa Sankar and Varun Banka. It has raised $150 million in a funding round led by GIC with co-investor Meritech Capital, valued at $750 million. Known names in the industry, such as Salesforce and peak XV partners, also participated in the round. This AI startup is building a platform for Artificial intelligence and data governance.
According to a report by ET, Prukalpa Sankar mentioned that they have seen a big increase in demand. The growth in the ecosystem makes more companies invest in AI and get ready for it, but the problem is that their data isn’t ready for AI. She added, “Atlan is in a good position to help businesses worldwide with that.” Atlan was founded by Sankar and Banka as an internal project at SocialCops, a data company. The report also mentioned the seven times increase in Atlan’s revenue in the last two years.
The startup has a solid customer base includes Cisco, Autodesk, Ralph Lauren, Nasdaq, and Unilever. Atlan described itself as a hub for data teams by providing a tech layer that acts as a control plane on top of the business’s infrastructure by integrating it via catalog metadata. Atlan will directly compete with known tech giants like Microsoft, Oracle, and IBM.
Atlan’s funds will be used to scale up the company and expand it further. The company has shown an incredible increase in value, proving its products’ quality and ability to solve problems for some of the world’s largest companies. Sankar mentioned that the investment will be made in building more capable product and engineering teams, and the rest will be used to enhance customer service, sales, and marketing. “we will be investing across product, engineering, and customer service,” she added.
CONCLUSION
Atlan is an AI startup focusing on making its databases suitable for artificial intelligence. The startup recently raised $105 million, making its value $750 million. Led by Indian founders Prukalpa Sankar and Varun Banka, the company aims to help big corporations prepare their databases for AI. The investment was led by Singapore’s GIC and US-based Meritech Capital, with participation from Salesforce and peak XV partners.
Atlan’s revenue has grown sevenfold with clients like Cisco and Unilever in the past two years. With plans to compete with tech giants like Microsoft and Oracle, Atlan will use the funds to expand its team and improve its products and services. Sankar emphasized investing in product development, engineering, and customer support to meet the growing demand and solve problems for more companies globally.
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