Atlan, a leading data collaboration software provider, has successfully secured $6.5 million in funding from WaterBridge Ventures. This investment is part of an extended Series B round, which saw Atlan raise $50 million, with Salesforce Ventures leading the charge in March 2022.
The recent funding round saw Atlan issuing 24,092 Series B preference shares, as disclosed in its regulatory filings in Singapore. This capital injection is poised to fuel Atlan’s mission of facilitating seamless collaboration among large enterprise teams on data projects while establishing a unified repository for all data assets. Atlan’s platform boasts deep integrations with popular tools like Slack and data warehouses like Snowflake and Redshift, ensuring efficient workflows and data management processes.
One of Atlan’s latest innovations includes introducing tag management solutions to address the persistent challenges encountered by data teams. With this development, Atlan distinguishes itself as one of the pioneering Snowflake data governance partners, offering bi-directional tag movement capabilities.
With a global workforce exceeding 300 employees spanning 12 countries, including the United States, India, the UK, Canada, Nigeria, Singapore, and the Philippines, Atlan is a testament to its international reach and impact.
Having participated in Sequoia Capital India’s accelerator program Surge as part of its third cohort, Atlan has steadily garnered significant investments. Previous funding rounds include a $50 million Series B round in March 2023 and a $16 million Series A round led by Insight Partners in May 2021.
Following the Series B round, co-founders Prrukalpa Sankar and Varun Banka retained substantial ownership stakes in the company, each holding 23.63%. Insight Partners, the lead investor in the Series A round, commands the most significant stake among investors with 15.4%.
The capital infusion from the Series B round has propelled Atlan’s growth trajectory, evident in its financial performance for the fiscal year ending March 2023. The company’s Indian entity reported a remarkable threefold increase in operating scale, reaching Rs 94 crore, coupled with a notable profit of Rs 7.7 crore during the same period.
As Atlan continues to innovate and expand its offerings, the recent investment from WaterBridge Ventures reaffirms its position as a frontrunner in revolutionizing data collaboration and management solutions for enterprises worldwide.
