Data and AI governance platform Atlan raises $105M in a Series C round

Data and artificial intelligence (AI) governance platform Atlan has raised $105 million in a Series C funding round led by GIC, Singapore’s sovereign wealth fund, and Meritech Capital.

The round also saw participation from existing investors Salesforce Ventures and Peak XV Partners. The round totals Atlan’s raise amount to over $206 million and is now valued at $750 million.

"Over the past year, boards have consistently asked their CIOs and CDOs about their AI roadmaps, realizing that the main hurdle isn’t AI models but the lack of AI-ready data—data enriched with business context, trust, and security. Atlan is addressing this by building the control plane for the data and AI stack, integrating trust and context into the digital fabric," said Prukalpa Sankar, who co-founded Atlan with Varun Banka.

The need for AI-ready data

Gartner’s 2024 research indicates that over half of Chief Data Officers and Chief Analytics Officers are prioritizing AI investments and enhancing data governance simultaneously. Data privacy, lineage, and quality have become significant obstacles to implementing generative AI, highlighting the need for trustworthy, context-rich data.

Atlan addresses this challenge with its next-generation platform for data and AI governance.

It provides a technology layer that acts as a control plane and collaboration layer on top of a business’s disparate data infrastructure, effectively stitching it together via catalogued metadata so data and business teams can find, trust, and govern AI-ready data.

Atlan centralizes data management, uniting data producers and consumers throughout the organization.

“Across roles, structures, and platforms, no two organizations handle data the same way: for data teams, diverse approaches are a feature, not a bug,” said Atlan’s co-founder Varun Banka.

“So, we built a solution that unifies data across warehouses, lakehouses, vector DBs, BI tools, and AI agents. In doing so, Atlan empowers data teams to leverage the entirety of their data at high velocity and scale by ensuring its quality, accuracy, and governance. This means data teams can efficiently and effectively collaborate on data that would be otherwise siloed for various use cases, including populating AI models with trustworthy data," Banka said.

What is the purpose of fundraising?

With this new funding, Atlan plans to scale its product and engineering capabilities, focusing on building more features and improving customer service, sales, and marketing.

The startup will also invest heavily in its Indian workforce, which currently stands at 150 people.

Atlan financial growth

Atlan claims to have witnessed a 7x increase in revenues over the last two years and a remarkable 400% enterprise sales growth in Q1 2024. The startup has achieved a 75% win rate in competitive trials as the demand for AI data readiness and governance has skyrocketed.

It also claims that it serves notable clients like Cisco, Autodesk, Unilever, Ralph Lauren, FOX, News Corp, and Nasdaq.

What did investors say about Atlan?

“Atlan is setting a new standard for modern data governance, especially for enterprises with a cloud-first data strategy,” said Rob Ward, co-founder of Meritech Capital and investor in iconic data companies like Snowflake, Looker, and Tableau.

“It’s increasingly viewed as the essential data control plane for major business initiatives like AI readiness and data democratization. The enthusiasm within the data community for Atlan is extraordinary, reminiscent of the most transformative companies.”