The funding helps the company hit unicorn status at a valuation of $1.2B. Here are the top-line bullets you need to know.
Alation, a data intelligence solutions provider, has raised $110M in a Series D with participation from Snowflake Ventures, Dell Technologies Capital, Riverwood Capital, Sapphire Ventures, and Costanoa Ventures, among others.
HOW’S THE COMPANY PERFORMING?
- California-based Alation is an enterprise data intelligence platform offering data discovery, search, governance, and analytics capabilities.
- The company has over 250 customers including Cisco, GE Aviation, Bank of Montreal, Exelon, Munich Re, Nasdaq, and Pfizer, among others. Alation’s technology partners include AWS, Salesforce, and Snowflake.
- Alation recently launched its cloud-based platform, Alation Cloud Service.
WHY DOES THE MARKET MATTER?
- The data catalog market is projected to grow at a CAGR of 23.1% and reach a value of $1.78B by 2026, as per Mordor Intelligence.
- The rising need for cutting costs, cloud integration, and digital transformation amid a volatile market have all contributed to industry growth.