Metaplane – a leading data observability platform for data teams – announced its $13.8 million Series A funding round led by Felicis, with participation from Khosla Ventures, Flybridge, Y Combinator, Stage 2 Capital, B37, and SNR. This funding round comes shortly after a successful 2023 with impressive revenue growth, accelerated customer acquisition, and rapid product innovation.
With the closing of the Series A funding round, Metaplane raised $22.2 million, including its Seed round – which was raised less than one year ago and includes leading investors like Khosla Ventures, Flybridge, and Y Combinator. Metaplane will use the fresh funding round of capital to continue building the next evolution of data observability, to help data teams monitor data more deeply, efficiently, and faster than ever before. Last year, the Metaplane customer base tripled to over 100 companies and now includes the data teams at leading companies like Klaviyo, Sigma, Census, GoFundMe, Bose, Ramp, and ClickUp.
Metaplane’s usage has skyrocketed this past year. As of January 2024, Metaplane customers have run over 500 million data quality checks on over 40 million data assets and over 30 million data lineage connections. And Metaplane customers tripled the number of monitors created while detecting and resolving over 80,000 incidents.
Metaplane was created by Kevin Hu, Guru Mahendran, and Peter Casinelli in 2019 for providing instant visibility into data quality issues that impact businesses negatively. And data pipelines today are more challenge than ever, with hundreds of data sources, convoluted business logic, and many cross-functional stakeholders. And testing, monitoring, and fixing issues across the entire data stack is critical and nearly impossible for one team or department to accomplish independently. Metaplane data observability empowers data engineers to identify issues with machine learning-based data quality monitoring, enabling users to discover unknown incidents in real time.
KEY QUOTES:
“We are so proud of what Metaplane was able to accomplish in 2023. Data is foundational to modern businesses, and our commitment to bring insights, fast resolution times, and peace of mind to our customers is our company mission. With this funding, Metaplane will enhance its data observability platform to support the evolving needs of data engineers. Our main areas of focus will be adding new automations, deeper data observability analytics and new ways to integrate Metaplane into data workflows so everyone using the data can check performance. We are honored to count Felicis and all our other investors as our partners in this effort. Their belief in Metaplane makes this all possible.”
- Kevin Hu, CEO and co-founder of Metaplane
“Metaplane has changed the way we monitor our operational data. In the past, data teams had to be reactive and fix issues after they became problems. If data teams don’t catch these problems, the business teams risk making important decisions with incorrect information. Metaplane puts us, the data team, in the driver’s seat. At Klaviyo, we now more proactively monitor data quality and fix problems before the business teams are impacted. Within a week of deploying Metaplane, we were able to more quickly catch issues for the data and business teams. This led to even greater trust across the company. I sleep a bit easier at night knowing that Metaplane has our back.”
- Evan Cover, Director, BI Engineering and Governance at Klaviyo
“We believe that data will only continue to increase in importance, and as it does, additional layers of monitoring, tooling, and services will make data stacks even more efficient and crucial to all kinds of businesses.”
“Metaplane’s excellent team has built a compelling feature set that promises to drive deep technical innovation for data teams. But, what overwhelmingly made this investment decision a no-brainer was how passionate and happy Metaplane’s customers are. They love both the product and team. In my experience, these are the fundamental drivers of growth and success.”
- Javier Soltero, who joined the Metaplane board, is a Senior Venture Partner at Felicis, and is the SVP & GM of Canva Enterprise
