Atlan Secures $105M Led by GIC for AI-Driven Data Governance

Atlan, a startup specializing in data and artificial intelligence (AI) governance, has raised $105 million in a Series C funding round. The round was led by Singapore's sovereign wealth fund GIC and Meritech Capital, with participation from existing investors Salesforce Ventures and Peak XV Partners. This funding values the company at $750 million and brings the total capital raised by Atlan to over $206 million.

The company plans to utilize the new funds to further develop its products and expand operations. Atlan's platform is designed to facilitate collaboration on data projects and integrate data warehouses, aiming to reduce the time spent on finding and understanding data by 95%. With a reported 7x increase in revenues over the past two years, 75% win rate in competitive trials, and 400% enterprise sales growth in Q1 2024, Atlan has demonstrated significant market traction.

Atlan's success builds upon the experience of its founders, Prukalpa Sankar and Varun Banka, who were involved in building India's national data platform, SocialCops. With clients that include major corporations such as Cisco, Autodesk, Unilever, and HubSpot, the company is poised to address the growing demand for AI data readiness and governance. Atlan currently employs 275 people and aims to expand its workforce using the newly acquired investment.