Atlan: AI-Based Governance Company Raises $105 Million At $750 Million Valuation

By Amit Chowdhry • May 13, 2024

Atlan—a company emerging as a fast-growing force in data and AI governance—announced a $105 million Series C funding round led by GIC (Singapore’s sovereign wealth fund) and co-investor Meritech Capital, early backers of disruptors like Snowflake and Datadog. Existing investors Salesforce Ventures and PeakXV Partners also joined the round. With this funding round, Atlan is valued at $750 million, and the company has raised over $206 million.

This new funding round comes as Atlan’s revenues surged over 7x in the last two years. The company’s win rate in competitive trials was 75%, and enterprise sales growth was a whopping 400% in the first quarter of this year as demand for AI data readiness and governance skyrocketed. The company’s customer base includes Cisco, Autodesk, Unilever, Ralph Lauren, FOX, News Corp, Nasdaq, NextGen, Plaid, and HubSpot.

Employees at every organization are working with data. And as data sets and sources are exploding within disconnected systems and silos, cataloging data so it can be discovered, understood, and utilized across the enterprise becomes a highly manual, cumbersome process. This situation becomes even more challenging with AI, where trustworthy and context-rich data is the greatest barrier for most companies looking to put AI into production.

Atlan handles these issues with its next-generation platform for data and AI governance. And it provides a technology layer that acts as a control plane and collaboration layer on top of a business’s disparate data infrastructure, effectively stitching it together through cataloged metadata so data and business teams can find, trust, and govern AI-ready data. Atlan centralizes data management, uniting data producers and consumers throughout the organization.

KEY QUOTES:

“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.”

  • Prukalpa Sankar, co-founder of Atlan

“Across roles, structures, and platforms, no two organizations 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. In doing so, Atlan empowers data teams to leverage the entirety of their data at high velocity and scale by ensuring its quality, accuracy, and governance. This means data teams can efficiently and effectively collaborate on data that would be otherwise siloed for various use cases, including populating AI models with trustworthy data.”

  • Atlan’s co-founder Varun Banka

“Data is key for improving customer experiences in the AI era, and Atlan is the only platform that helps us deliver this value to HubSpot customers from day one. And with the open and extensible foundation, our technical team can build applications and govern our data ecosystem.”

  • Ashfaq Mohiuddin, VP, Enterprise Data & AI at HubSpot

“Atlan is setting a new standard for modern data governance, especially for enterprises with a cloud-first data strategy. It’s increasingly viewed as the essential data control plane for major business initiatives like AI readiness and data democratization. The enthusiasm within the data community for Atlan is extraordinary, reminiscent of the most transformative companies.”

  • Rob Ward, co-founder of Meritech Capital and investor in iconic data companies like Snowflake, Looker, and Tableau