Data & AI governance platform Atlan raises $105 million from GIC, Meritech Capital

Atlan has raised over $206 million in total with the latest round of funding

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

Existing investors Salesforce Ventures and Peak XV Partners also participated in the round, taking Atlan’s total valuation to $750 million, the startup said in a release on May 8.

"Atlan is setting a new standard for modern data governance, especially for enterprises with a cloud-first data strategy," Meritech Capital co-founder Rob Ward said.

Atlan streamlines disparate data infrastructure of businesses and catalogues it with business context and security.

It also centralises data management, uniting producers and consumers throughout the organisation.

This new funding comes as Atlan saw a 400 percent increase in enterprise sales growth in the first quarter of 2024. Its revenue has gone up more than seven times in the last two years.

The company’s customers include Cisco, Autodesk, Unilever, Ralph Lauren, FOX, News Corp, Nasdaq, NextGen, Plaid, and HubSpot.

Atlan now raised over $206 million in total, including contributions from top institutional investors such as Insight Partners and Waterbridge Ventures.

The Prukalpa Sankar and Varun Banka-founded company is backed by top investors including Sequoia Capital India and Salesforce Ventures.

Co-founder Sankar said the company was addressing the problem of enterprise’s absence of AI-ready data, or data which is not enriched with business context, trust, and security.

“Atlan empowers data teams to leverage the entirety of their data at high velocity and scale by ensuring its quality, accuracy, and governance,” Varun Banka said in the release.

The five-year-old company says its platform cuts the time taken to find and understand data by 95 percent, with data and business teams easily finding AI-ready data.