Revefi – a zero-touch platform to monitor and manage data quality, performance, and costs – announced today that it has raised $10.5 million in seed funding. And Revefi is disrupting the data observability space with the Revefi Data Operations Cloud.
Mayfield Managing Partner Navin Chaddha led the seed funding round. And GTMfund, Neythri Futures Fund, ThoughtSpot co-founder and executive chairman Ajeet Singh, and 13 other strategic investors also participated. These investments are a vote of confidence in the vision and track record of Revefi co-founders and leaders Sanjay Agrawal and Shashank Gupta.
The Revefi Data Operations Cloud is a co-pilot that empowers data teams to have the right data in their cloud data warehouses reliably, promptly, and affordably so that their organizations can use the data to make critical business decisions. And Revefi also leads to significant savings. Within weeks, one customer used Revefi to uncover insights that allowed them to save nearly 30% on their total Snowflake spend while, at the same time, their usage of the cloud data platform had increased by 35%. This was a huge saving – close to six figures – for this Revefi customer.
Revefi CEO Sanjay Agrawal and CTO Shashank Gupta
Revefi’s founders have gained deep expertise in building automated, high-performance, and scalable data solutions during their time as engineers at Amazon, Google, Meta, Microsoft, and Yahoo. They also co-founded AI-powered analytics company ThoughtSpot, which is now valued at $4.2 billion.
CEO Agrawal has over 20 years of leadership and deep enterprise expertise in building high-performance distributed databases, analytics, learning, and data recommendation systems. And at ThoughtSpot, he architected and developed a self-managing distributed data warehouse purpose-built for interactive ad hoc analytics. Later, he led SpotIQ – which pioneered the use of AI in analytics. From a leadership standpoint, he established the company’s Seattle area office, the first outside the Bay Area at the time. Before ThoughtSpot, he spent more than a decade at Microsoft and Google working on core SQL optimization techniques, self-tuning databases, and building petabyte-scale databases.
Gupta, CTO, has over two decades of deep system-building experience at big tech companies. And he proposed and led the automated data quality effort for Meta’s data warehouse, including the charter of data observability and quality for all of the tech giant’s data infrastructure. Plus, he headed up engineering at ThoughtSpot, using his search experience from Amazon and Yahoo to help develop the novel and industry-leading natural language search over data feature, which indexed data and metadata with row-level security enforcement.
Data Operations Cloud
Revefi also announced Revefi Data Operations Cloud, an innovative new zero-touch platform to monitor and manage data quality, performance, and costs. This new co-pilot platform empowers data teams to have the right data in their cloud data warehouses reliably, promptly, and affordably so that their organizations can use it to make critical business decisions. And Revefi also leads to significant savings.
Within weeks, one customer utilized Revefi to uncover insights that allowed it to save nearly 30% on its total Snowflake spend while at the same time, their usage of the cloud data platform had increased by 35%. That was a huge saving – close to six figures – for this Revefi customer.
The problem of bad data quality – which causes businesses to lose an average of $12.9 million annually – has been long understood. This led to the sea of siloed data observability tools that have emerged recently. However, these tools have limited effectiveness because bad data quality is part of the problem. Unpredictable costs are another massive business pain point since it is not viable for organizations to set and manage limits for their data warehouse users proactively. There is limited visibility into why and how these services are being used. So businesses are frequently surprised by their data warehouse service provider bills, which can rapidly snowball out of control, sometimes adding tens of thousands of dollars to their bills in just one weekend.
Revefi Data Operations Cloud now addresses both of these challenges. Within a few minutes, Revefi Data Operations Cloud automatically connects data quality, performance, spending, and usage without requiring manual thresholds and configurations and creates a baseline using proprietary AI models. And Revefi is on the constant lookout and alerts users if and where unexpected behavior is related to their spending or data. This system automatically ranks issues based on magnitude and usage and generates information and details about the root cause to help users understand situations and take immediate action.
KEY QUOTES:
“Sanjay and Shashank are world-class serial entrepreneurs who are addressing a massive market opportunity around data quality, performance, cost, and observability. Revefi’s zero-touch Data Operations Cloud elevates data teams to focus on strategic tasks and saves businesses money. I look forward to partnering with them to help create an iconic company.”
— Navin Chaddha
“Shashank and Sanjay are among the best founders and visionaries in enterprise data. They have delivered exceptional value and results to date, and now they’re positioned to do it again.”
— Ajeet Singh, who co-founded multibillion-dollar companies ThoughtSpot and Nutanix
“Our ability to win the support of this unrivaled group of investors and strategic partners highlights the value of Revefi’s vision. We look forward to continuing our collaboration as Revefi advances our strategy to save data teams time and save companies money. All of this is now possible through the magic of the Revefi Data Operations Cloud.”
“In today’s world, both high-quality data and spend are top of mind for every organization, whether it’s for analytics or exploring generative AI. Revefi’s AI-driven zero-touch Data Operations Cloud is disrupting the data observability space by converging all of data quality, spend, performance and usage in one place. With Revefi there are no POCs, no learning curve for your teams – it’s all automated, zero setup, period: just sign up, point to your data warehouse, and you start seeing right away how much Revefi can save your organization – no guesswork here. With results such as a Revefi customer slashing their total cloud warehouse spend by 30%, and their data team seeing zero escalations over six months of using Revefi, we’re confident we’ve crafted something truly special!”
— Sanjay Agrawal
“To make the most of your data and your budget, it’s critical to understand and address data quality, cost, performance, and usage holistically. Revefi Data Operations Cloud provides for the right data at the right time at the right cost.”
— Shashank Gupta, CTO and co-founder of Revefi
“Revefi has transformed the way we manage our data systems. Within mere minutes of joining, we identified critical issues and implemented solutions, slashing approximately 5% off our Snowflake bill. With Revefi’s insights, we recognized various table load scenarios and, using the strategies we developed, decreased execution time by nearly 30%.”
— Brandon Harris, vice president of data and technology at FCP Euro
