• Atlan, a prominent data and AI governance firm, recently concluded its Series C funding

  • The round is led by GIC, Singapore’s sovereign wealth fund

  • Atlan’s platform facilitates seamless collaboration among large enterprise teams.

Atlan, a prominent data and AI governance firm, recently concluded its Series C funding round with an impressive $105 million injection, spearheaded by GIC, Singapore’s sovereign wealth fund, alongside Meritech Capital. This financing effort saw continued support from existing investors, including Salesforce Ventures and Peak XV Partners, underscoring strong confidence in Atlan’s vision and potential.

This latest funding milestone follows a $27.5 million tranche secured by Atlan earlier in March, building on previous successful funding endeavours. Notably, Atlan had previously secured approximately $50 million in its Series B round in March 2023, followed by a $16 million Series A round led by Insight Partners in May 2021.

Sources familiar with the matter have pegged Atlan’s current valuation at approximately $750 million, marking a substantial uptick from its valuation of $450 million during the Series B round. This surge in valuation underscores the growing recognition and demand for Atlan’s offerings in the evolving landscape of data governance and AI implementation.

Co-founder of Atlan, Prukalpa Sankar, emphasized the pivotal role of data readiness in driving AI initiatives, noting, “Over the past year, boards have consistently asked their CIOs and CDOs about their AI roadmaps, who have realized that the main hurdle isn’t AI models but the lack of AI-ready data—data enriched with business context, trust, and security.”

Atlan’s platform facilitates seamless collaboration among large enterprise teams on data projects, providing a centralized repository for all data assets. The platform boasts robust integrations with popular tools such as Slack and leading data warehouses like Snowflake and Redshift, enhancing accessibility and efficiency for users.

Among Atlan’s notable clientele are industry giants including Ingersoll Rand, Cisco, Autodesk, Unilever, Ralph Lauren, FOX, News Corp, Nasdaq, NextGen, Plaid, and HubSpot, reflecting the platform’s broad appeal and versatility across diverse sectors.

The company reports a remarkable revenue surge of over 7x in the past two years, accompanied by an impressive 80% win rate in competitive trials and a staggering 400% growth in enterprise sales during Q1 2024. Although specific revenue figures were not disclosed, Atlan’s Indian entity recorded a significant threefold increase in operating scale, reaching Rs 94 crore in FY23, with a profit of Rs 7.7 crore.

During the Series B round, co-founders Prukalpa Sankar and Varun Banka maintained equal ownership stakes of 23.63% each in the company, solidifying their commitment and alignment with Atlan’s long-term objectives. Notably, Insight Partners emerged as the largest external stakeholder, further cementing its confidence in the company’s trajectory and potential.

For a comprehensive overview of Atlan’s capital structure, interested parties can refer to TheKredible platform, offering detailed insights into the company’s ownership distribution and shareholder composition.

In summary, Atlan’s successful Series C funding round not only signifies a significant milestone in its growth trajectory but also underscores the escalating demand for robust data governance solutions in an increasingly AI-driven landscape. With a diverse and prestigious clientele, coupled with substantial revenue growth and valuation appreciation, Atlan is poised to further solidify its position as a leader in data and AI governance.