Today Revefi announced that it has raised $20 million in a Series A funding. This funding round was led by Icon Ventures, with participation from Mayfield, GTM Capital and StepStone Group.
The new funding round will fuel the launch of Raden – which is the world’s first AI data engineer. And Raden utilizes the power of GenAI + AI to augment busy data teams and vastly improve organizations’ ROI from their data investments.
Along with the Raden launch, Revefi will use the new funding to scale engineering, product management, build out sales and marketing, and enhance customer success. And the company has driven unparalleled solutions to its expanding global customer base, which includes innovative Fortune 500 enterprises Madhive, Handshake and 2degrees.
KEY QUOTES:
“We’re thrilled to partner with Icon Ventures, Mayfield, GTM Capital and StepStone Group, who share our vision for empowering enterprises to build world-class data engineering teams and practices. With the introduction of Raden, the world’s first AI data engineer built using GenAI + AI, data teams can now break out of firefighting mode and become more strategic to drive new efficiencies and business success. Raden gives results in five minutes and has reduced customer data spend by 50% while realizing a 10x improvement in operational efficiency.”
- Sanjay Agrawal, CEO and co-founder of Revefi
“Revefi’s vision for an AI data engineer to augment and enhance data teams is exactly the kind of disruptive innovation that creates significant value for the enterprise. Early customers we spoke with were incredibly excited about the product. This is not surprising given the rich background of the Revefi co-founders Sanjay Agrawal and Shashank Gupta, who were previously the co-founders of ThoughtSpot and have built high-performance databases, data quality platforms and search engines at Microsoft, AWS, Google and Meta.”
- Icon General Partner Preeti Rathi
“Witnessing our ideation-stage partnership with Sanjay and Shashank has been incredibly gratifying. Mayfield is bullish on AI teammates leading us into the era of cognitive intelligence, transforming the way we work, live and play. We’re excited to see how Revefi’s AI data engineer will revolutionize data quality, observability, performance and user management for organizations.”
- Navin Chaddha, managing partner at Mayfield
