Atlan, an artificial intelligence startup, announced on Wednesday that it successfully raised $105 million in a funding round led by Singapore's sovereign wealth fund GIC and tech investor Meritech Capital. This funding round valued the startup at $750 million.c
The incorporation of AI into products and services is a key focus for leading technology companies. Startups specializing in AI chips and machine learning have attracted considerable attention in the current funding landscape.
Data serves as the fundamental component of the AI revolution, which has made significant waves on Wall Street. Generative AI, in particular, aims to generate human-like creations by processing vast datasets through computer code.
Atlan operates a data stack that consolidates diverse data from both internal and external sources into a unified interface. Its clientele includes notable companies such as Autodesk, Ralph Lauren, Nasdaq, and News Corp.
Following the latest series C round, Atlan has raised over $206 million. It witnessed a substantial increase in revenue over the past two years and recorded a remarkable 400% growth in enterprise sales in the first quarter.
Atlan co-founder Prukalpa Sankar highlighted the startup's competitive edge over legacy players like Informatica, Collibra, and Alation, stating that Atlan wins three-quarters of deals when competing directly with them.
Meritech Capital's co-founder, Rob Ward, emphasized the importance of Atlan's control plane in facilitating business initiatives such as AI readiness and data democratization.
Atlan intends to utilize the newly raised capital to expand its product development efforts and operations, further solidifying its position in the market.
