Secoda, a Toronto, Canada-based AI-powered data search, cataloging, lineage, and documentation platform, raised $14 million in Series A funding, bringing its total investment to $16 million.
Craft Ventures led the round, with participation from Abstract Ventures, YCombinator, Garage Capital, and industry leaders including Jordan Tigani (CEO of MotherDuck), Scott Breitenother (CEO of Brooklyn Data Co.), and Tristan Handy (CEO of dbt).
Founded in 2017, Craft Ventures is a venture capital firm based in San Francisco, California. The firm seeks to invest in business products, business services, consumer products, consumer services, information technology, e-commerce, SaaS, TMT, cryptocurrency, and blockchain sectors.
Secoda Use of Funds
With this investment, Secoda plans to focus on innovation in generative AI (genAI) solutions that enable employees, regardless of their technical skill level, to easily search, understand, and use company data.
The funding will also support the expansion of Secoda's ecosystem of integrations, strengthening engineering efforts, and fueling research and development.
Founded in 2021 by Etai Mizrahi and Andrew McEwen, Secoda is an AI-powered data search, cataloging, lineage, and documentation platform to double a data team's efficiency. Secoda empowers data teams to manage data sprawl, scale infrastructure, and overcome common issues such as lack of observability, governance, and lengthy setup and integration periods. One of Secoda's AI solutions, the Secoda AI Assistant, combines ChatGPT technology with an organization's proprietary data and metadata. It automates tasks, generates intelligent documentation, and provides answers to data-related questions while recognizing and tagging personally identifiable information (PII).
Company: Secoda, Inc.
Round: Series A
Funding Month: September 2023
Lead Investors: Craft Ventures
Additional Investors: Abstract Ventures, YCombinator, Garage Capital, Jordan Tigani, Scott Breitenother and Tristan Handy
Company Website: https://www.secoda.co/
Software Category: Data Discovery and Management Solutions