Data management vendor Ataccama receives $150M infusion from Bain – Nob6
In recent times, there’s been an explosion of instruments that permit companies to attach, rework, analyze and serve information from all types of sources. Mixed with the rising strain on companies to digital rework their operations, this may result in a patchwork of options that aren’t simple to keep up or scale. Analysis from Forrester estimates that 73% of firm information is unused and by no means analyzed, whereas one other study discovered that 69% of enterprise executives had didn’t create “data-driven” organizations.
A partial answer may lie in software program designed for information administration. A lot exist, however the newest to draw funding is Ataccama, which in the present day introduced that it raised $150 million from Bain Capital Tech Alternatives — representing a minority funding within the firm. A supply aware of the matter tells Nob6 that the spherical values Ataccama at $550 million.
Based in 2007, Ataccama develops information governance, information catalog, information high quality and information administration capabilities for enterprises.
“Ataccama’s development potential could be shortly accelerated by scaling up the go-to-market features (model, advertising and marketing, gross sales, buyer success, and so on.) — that’s the primary space the place a part of the funds will probably be directed,” CEO Michal Klaus advised Nob6 in an e mail interview. “A second huge alternative is continuous product innovation, centered on bridging the hole between information democratization and the necessity for centralized information governance and information high quality administration. The third space … is tighter integrations with main information processing platforms corresponding to Snowflake, Databricks and others.”
Ataccama is a spin-off from the information integration programs integrator Adastra. In response to Klaus, the founders — David Holes, Jan Mrazek, Jan Cervinka, Petr Jech and himself — had been seeing data-quality points of their information integration initiatives that result in delays or failures to ship desired enterprise outcomes for purchasers. After making a proof-of-concept product inside Adastra, the workforce determined the chance was important sufficient to begin a devoted, product-focused firm: Ataccama.
Ataccama’s platform falls below the class of “information material,” a mixture of applied sciences that assist to establish, join, clear and enrich information to uncover the relationships between information factors. Amongst different providers, Ataccama offers information high quality checks, monitoring and remediation. The platform can robotically uncover information throughout a variety of on-premises and public cloud sources in addition to rework this information and seize or create metadata (e.g., lineage) from it.
Utilizing Ataccama, customers can import and set up enterprise time period definitions, entry insurance policies, information high quality guidelines, information fashions and different metadata. Ataccama can course of information codecs to align round a typical customary, constantly reporting the state of information for compliance with guidelines, aggregations and visualizations. (For instance, an engineer would possibly obtain an alert like “Dataset comprises quite a lot of invalid values” or “This dataset comprises bank card info”). The platform can even try so as to add lacking info from exterior information sources and reference information, filling out gaps in information units.
“We use AI to allow each technical and non-technical customers to seek out the information they want, perceive it, and assess and enhance its high quality,” Klaus mentioned. “Enterprise and authorities leaders know that information is a supply of innovation and aggressive benefit. On the identical time, it’s not potential or optimum to drive data-based innovation centrally. Slightly, it wants to come back from empowered groups and people — they want to have the ability to have entry to all types of information sources, and be allowed, and even inspired, to make use of the information, course of it, derive insights, construct apps and extra. This all represents a significant compliance, safety and governance threat.”
Knowledge material has its downsides — chief amongst them implementation complexity. For instance, information materials require exposing and integrating totally different information and programs, which might usually format information otherwise. This lack of native interoperability can add friction like the necessity to harmonize and deduplicate information.
Furthermore, Ataccama competes with formidable distributors within the pure-play information administration area. Informatica is publicly traded, whereas Collibra not too long ago raised $250 million to greater than double its valuation. There’s additionally Reltio, which hit $100 million in annual recurring income this 12 months.
Klaus claims that Ataccama is a bootstrapped enterprise that hadn’t acquired any exterior funding up till this level. The corporate has roughly 200 company prospects in banking, monetary providers, insurance coverage, life sciences, healthcare and retail, with round 200 further business-to-business prospects utilizing Ataccama know-how supplied by way of OEM companions.
“Ataccama has been operationally worthwhile since 2011, constantly producing optimistic money stream and with the ability to put money into numerous development or transformation initiatives. The expansion has accelerated prior to now 18 months with 86% annual recurring income development 12 months over 12 months,” Klaus mentioned. “The pandemic itself initially slowed down firm development for about six months, however the pent-up demand for our know-how compensated for that within the two quarters that adopted. As for the slowdown within the economic system, we’re making ready for numerous eventualities however typically, the impression may doubtlessly be that the projected development is likely to be slower. On the identical time, we are going to proceed investing in our product which is able to truly assist organizations to work with larger effectivity as a result of automation.”
Dewey Awad, a managing director at Bain Capital Tech Alternatives, added in an emailed assertion:
It’s clear that companies are prioritizing larger management over their information throughout hybrid and cloud environments, with the flexibility to derive deeper and extra correct insights from that information. This demand is happening throughout the group, requiring an information administration system that’s intuitive for workers throughout a number of features and departments … We’re excited to accomplice with [Klaus] and his workforce to double down on product innovation and go-to-market with a purpose to speed up the main whitespace alternatives they’re seeing in almost each business.
Within the subsequent few months, Ataccama says that it plans to increase its workforce from 468 individuals to over 500.