Datavolo, a Phoenix, AZ-based technology company specializing in multimodal data pipelines for AI, has raised over $21 million in funding.
Investors
Led by General Catalyst, the financing round also saw participation from prominent investors such as Citi Ventures, Human Capital, Rob Bearden, and MVP Ventures.
General Catalyst is a venture capital firm that makes early-stage and transformational investments, backing entrepreneurs who are building technology companies and businesses. With offices in San Francisco, Palo Alto, New York City, London, Berlin, and Boston, the firm has helped support the growth of numerous businesses.
Datavolo Use of Funds
The new capital infusion will primarily empower the engineering team to enhance the platform's capabilities, focusing on cloud-native managed services for AI systems. Specifically, leveraging Apache NiFi for multimodal data pipelines, real-time processing, and scalability. Initiatives include a private beta for Retrieval Augmented Generation (RAG) applications and automating data capture, transformation, and loading.
About Datavolo
Founded by Joe Witt and Luke Roquet, Datavolo is a SaaS company that helps customers rapidly build scalable and secure multimodal data pipelines for AI. The company specializes in creating multimodal data pipelines for the generative AI sector. Their platform addresses the challenge of accessing timely, secure, and complete data sets for AI models, particularly focusing on unstructured data, which forms a significant portion of enterprise data but is often underutilized. Leveraging Apache NiFi, the company offers a cloud-native managed service with specific capabilities and integrations for building rapid multimodal data pipelines.
Funding Details
Company: Datavolo, Inc.
Raised: $21.0M+
Round: Unknown
Funding Month: April 2024
Lead Investors: General Catalyst
Additional Investors: Citi Ventures, Human Capital, Rob Bearden, MVP Ventures
Company Website: https://datavolo.io/
Software Category: Multimodal Data Pipelines
Source: https://datavolo.io/2024/04/datavolo-announces-over-21m-in-funding/