Atlan raises $105 million from Singapore’s GIC, others

Data and artificial intelligence (AI) governance firm Atlan has raised $105 million at a valuation of $750 million in a fresh funding round from a clutch of investors led by Singapore sovereign fund GIC, the company said.

Existing investors Salesforce Ventures and PeakXV Partners joined the funding round, taking the total funds raised by the firm to more than $206 million, including contributions from institutional investors Insight Partners and Waterbridge Ventures.

The company, which counts Cisco, Autodesk, Unilever, Ralph Lauren, FOX, News Corp, Nasdaq, NextGen, Plaid, and HubSpot among its clients, said its revenues surged more than seven times in the past two years.

Atlan, which makes managing and safeguarding a firm’s data more streamlined and secure, describes itself as a “control plane that stitches together a business’s disparate data infrastructure, cataloging data and enriching it with business context and security.”

“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,” said Prukalpa Sankar, who co-founded Atlan with Varun Banka.

“Atlan is addressing this by building the control plane for the data and AI stack, integrating trust and context into the digital fabric,” Sankar said.

“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,” co-founder Varun Banka said.

Ashfaq Mohiuddin, vice-president  for enterprise data and AI at HubSpot, an American developer and marketer of software products, said: “Data is key for improving customer experiences in the AI era, and Atlan is the only platform that helps deliver this value to customers.

Rob Ward, co-founder of Meritech Capital, said: “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.”