Coalesce, a San Francisco, CA-based company specializing in data transformation services, apps, and tools, has closed $50 million in Series B funding, bringing its total raised to $81 million.
Investors
The round was co-led by Industry Ventures and Emergence Capital, with participation from other notable investors including 11.2 Capital, Bob Muglia, DNX Ventures, GreatPoint Ventures, Hyperlink Ventures, Next Legacy Partners, Snowflake Ventures, and Telstra Ventures.
Founded in 2000, Industry Ventures is a venture capital firm based in San Francisco, California. The firm seeks to invest in companies operating in the software, business and commercial services, big data, and SaaS sectors.
Emergence Capital Partners is a venture capital firm based in San Francisco, California. Founded in 2003, the firm invests in early and growth-stage cloud and SaaS companies.
Coalesce Use of Funds
The company will use the funding to further develop its platform, enhance its performance, introduce AI features, and expand its reach. Additionally, the company plans to focus on reaching out to existing Snowflake customers, as well as expanding its team from 80 to around 100 employees by the end of the year.
About Coalesce
Coalesce is a company that offers a data transformation platform designed to work exclusively with Snowflake's Data Cloud product. Its platform automates repetitive data transformation processes while standardizing data, thereby enabling data teams to manage transformations more efficiently. The company's platform combines the speed of an intuitive graphical user interface (GUI), the flexibility of code, and the efficiency of automation for data transformations. Founded in 2020, the company already serves multiple Fortune 500 customers.
Funding Details
Company: Coalesce Automation, Inc.
Raised: $50.0M
Round: Series B
Funding Month: April 2024
Lead Investors: Industry Ventures, Emergence Capital
Additional Investors: 11.2 Capital, Bob Muglia, DNX Ventures, GreatPoint Ventures, Hyperlink Ventures, Next Legacy Partners, Snowflake Ventures, Telstra Ventures
Company Website: https://coalesce.io/
Software Category: Data Transformation Solution
Source: https://techcrunch.com/2024/04/04/coalesce-raises-more-cash-to-transform-data-for-snowflake-customers/