Singapore’s GIC leads $105 million funding round in Atlan

The circular valued the institution astatine $750 million.

Existing investors Salesforce Ventures and Peak XV Partners besides participated successful the fundraise, bringing Atlan’s full superior raised to implicit $206 million, the institution announced connected Wednesday.

The Singapore-based subsidiary of US-incorporated Atlan Inc. had past raised superior from Salesforce Ventures successful July 2022, erstwhile it was valued astatine $450 million.

Other investors see Insight Partners and Waterbridge Ventures.

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"Over the past year, boards person consistently asked their CIOs and CDOs astir their AI roadmaps, who person realized that the main hurdle isn't AI models but the deficiency of AI-ready data—data enriched with concern context, trust, and security," said Prukalpa Sankar, co-founder of Atlan. 

“Atlan is addressing this by gathering the power level for the information and AI stack, integrating spot and discourse into the integer fabric."

Atlan has reported that its revenues person surged by 7x successful the past 2 years, driven by expanding request for AI information readiness and governance. The company’s clients see Cisco, Autodesk, Unilever, Ralph Lauren, FOX, News Corp, Nasdaq, NextGen, Plaid, and HubSpot.

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"Across roles, structures, and platforms, nary 2 organizations grip information the aforesaid way: for information teams, divers approaches are a feature, not a bug," said Atlan’s co-founder Varun Banka. 

Recognizing this, Banka explained that the institution has developed a solution to unify information from aggregate sources, including warehouses, lakehouses, vector databases, BI tools, and AI agents.

This unification empowers information teams to leverage their full information ecosystem efficiently and astatine scale. By ensuring the quality, accuracy, and governance of data, Atlan’s solution allows information teams to collaborate efficaciously connected information that would different stay siloed. 

This attack facilitates the improvement of trustworthy AI models, Banka added.

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Published: 08 May 2024, 05:51 PM IST