- Tecton — an enterprise feature store company — announced it has raised $35 million in Series B funding co-led by Andreessen Horowitz and Sequoia. These are the details.
Tecton — an enterprise feature store company — announced the general availability of its production-ready enterprise feature store that is delivered as a fully-managed cloud service. And Tecton also announced $35 million in Series B funding co-led by Andreessen Horowitz and Sequoia, bringing the total raised to $60 million. This round of funding will be used to accelerate product innovation and go-to-market activities.
Feature stores are emerging as a critical component of the infrastructure stack for machine learning. And they solve the hardest part of operationalizing ML: building and serving ML data to production. Plus they allow data scientists to build more accurate ML features and deploy these features to production within hours instead of months.
Tecton — which emerged from stealth in April this year — already has paying customers from some of the fastest-growing startups to the Fortune 50. And Tecton is providing the only cloud-native feature store that manages the complete lifecycle of machine learning features. This allows machine learning teams to build features that combine batch, streaming, and real-time data. And Tecton orchestrates feature transformations to continuously transform new data into fresh feature values.
The features can be served instantly for training and online inference with monitoring of operational metrics. And teams can search and discover existing features to maximize re-use across models.
KEY QUOTES:
“Based on our experience building Uber Michelangelo, we know that feature stores are an essential part of the complete stack for operational ML. We built Tecton to provide the most advanced feature store in the industry and make it accessible to every organization as a cloud-native service.”
— Mike Del Balso, co-founder and CEO of Tecton
“We use ML applications to support a variety of use cases in Credit Decisioning, Cash Flow Insights, Fraud Detection and Business Admin. Tecton helps us create more accurate features that combine batch data from Snowflake and streaming data from Apache Kafka. With Tecton, we can reuse features across all of these domains and thus reduce by weeks the time it takes to build and deploy streaming features to production.”
— Hendrik Brakmann, Director of Data Science and Analytics at Tide, a startup that provides a smart business current account to more than 270,000 business owners.
“We operate ML-driven applications to power new and improved customer experiences in our products, including Jira and Confluence. Tecton is now deployed in production as a core component of our stack for operationalizing ML. Tecton has allowed us to improve more than 200,000 customer experiences per day and accelerate the time to build and deploy new features from months to less than a day.”
— Gilmar Souza, Engineering Manager, Search & Smarts at Atlassian, a global software company that helps teams unleash their potential.
“We are generating data at higher volumes and with greater velocity than ever before. ML will drive a new wave of software innovation by allowing companies to harness their data to power new customer experiences and automate business processes. Scaling ML in the enterprise requires new tooling to turn analytics data into operational signals, and the Tecton team is uniquely positioned to solve this problem with their deep expertise in ML infrastructure.”
— Martin Casado, general partner at Andreessen Horowitz and Tecton board member
“Ten years from now, every enterprise system will be automated and driven by machine learning. The core technology that will make this possible is the feature store that Tecton provides. Tecton is the key enabler of operational machine learning and is solving one of the most interesting challenges in enterprise technology. The team has made tremendous progress since the seed, and we are thrilled to triple down on our partnership.”
— Matt Miller, partner at Sequoia and Tecton board member
