AtScale, a San Mateo, California-based data warehouse virtualization platform company, announced that it has raised $50 million in Series D funding led by Morgan Stanley. AtScale’s previous investors Storm Ventures, Wells Fargo, and Atlantic Bridge also participated in this round.
With this round of funding, AtScale is going to bolster its technology lead and innovate with a greater focus on accelerating insights. Plus the company is going to expand product capabilities and develop deeper relationships within the analytics ecosystem. Plus AtScale is going to accelerate its sales and marketing domestically and internationally.
“AtScale’s expertise in data management and operational analytics continues to drive customer adoption in Global 2000 enterprises,” said AtScale CEO and executive chairman Chris Lynch. “Our customers are embracing the cloud, emerging data platforms and multi-cloud deployments at unprecedented rates, demonstrating the power and value of AtScale’s data warehouse virtualization platform.”
This past year, AtScale on-boarded over 50 new customers and the company successfully expanded global efforts by entering new markets across Europe and Asia. The company also secured strategic partnerships with Cloudera, Microsoft, and Oracle.
“Wasted data is a lost opportunity. Through partnering with AtScale, enterprises can transform unwieldy data stockpiles into a competitive advantage,” added Morgan Stanley Managing Director Burak Alici. “When Chris joined AtScale, we saw a unique opportunity to partner with a proven leadership team to deliver an unmatched solution that has the power to revolutionize business intelligence and create value for all stakeholders. I look forward to working with the board and the entire team as AtScale enters its next.”
AtScale’s platform serves as the virtualization layer for online analytical processing (OLAP), which enables organizations to seamlessly and non-disruptively integrate cloud data platforms such as Snowflake, Google BigQuery, Amazon Redshift, and Microsoft Azure SQL Data Warehouse into their operational analytics. Some of the company’s major customers include TD Bank, Allstate, JPMorgan Chase, GlaxoSmithKline, Wells Fargo, Toyota, and Kraft-Heinz.