Alvin, Tallinn, Estonia-based data lineage platform, announced that it secured $6 million in a seed funding round led by Project A Ventures.
Icebreaker.vc, Nomad Capital, and angel investors Chris Shagen (former CMO of Contentful), Nick Handel (CEO and co-founder of Transform), and Ragnar Sass (co-founder of Pipedrive) also participated in the round.
The fund will be used to expand the engineering team to deliver on its roadmap and execute its go-to-market strategy.
Besides funding, the Estonian company also announced the launch of its platform after a successful beta phase, offering a toolkit to test code, trace errors, and identify inefficiencies.
“Businesses are rightly shifting focus from how much data they collect and store to its quality, availability, usability, and ROI,” says Dan Mashiter, co-founder of Alvin. “By automatically mapping data flows within and across systems and how it is consumed throughout the business, Alvin is building the operating system for the modern data stack. Alvin gives data teams the tools to measure and improve the key metrics they will now be judged on and ultimately maximize their impact,” adds Mashiter.
Alvin asserts that it has already signed its first commercial contracts, including Fintech Quanto, and has organically increased its beta queue to 400+ firms.
Company: Particip8, Inc.
Raised: $6.0M
Round: Seed Round
Funding Month: October 2022
Lead Investors: Project A Ventures
Additional Investors:
Company Website: https://www.alvin.ai/
Software Category: Data LIneage platform
About the Company: Founded in 2018 by Dan Mashiter and Martin Sahlen, Alvin is a SaaS company that helps data teams with data quality, reliability, cost, and governance through automated data lineage. Alvin has built a plug-and-play SaaS platform that offers data teams a toolkit to help them improve the quality of their data and lower costs. The platform automatically enables data teams to map their entire data architecture and how data is connected, transformed, and consumed. Alvin’s core technology automatically builds and maintains a highly accurate graph dataset representing the connections between columns, tables, dashboards, SaaS platforms, and people. The platform enables teams to detect and trace pipeline errors/bugs using the dataset, reducing data downtime. The company’s mission is to enable teams of all sizes to improve the quality and usability of their data.
Source: https://siliconcanals.com/news/startups/alvin-bags-6-1m-vc-project-a/