Unravel Data, a Palo Alto, CA-based DataOps observability platform built to meet the needs of modern data teams, announced that it closed a $50 million Series D funding to accelerate the next generation of DataOps observability.
The round was led by Third Point Ventures, with participation from Bridge Bank and existing investors that include Menlo Ventures, Point72 Ventures, GGV Capital, and Harmony Capital, bringing the total amount of funding raised by Unravel Data to $107 million. Unravel Data will use the investment to extend the Unravel Platform to help connect the dots from every system in the modern data stack within and across the most popular data ecosystems, including Databricks, Snowflake, Amazon EMR, BigQuery, and Dataproc.
"Data engineers and data scientists currently spend more than half their day debugging and troubleshooting issues on the thousands of data pipelines in their environment," said Kunal Agarwal, CEO of Unravel Data. "Just as the DevOps market united the practice of software development and operations a decade ago to transform the application lifecycle, data teams require the same kind of full-stack visibility, automation, and actionable intelligence that meet their needs around data pipeline performance, cost, and quality."
As part of the new funding, Curtis McKee, Partner at Third Point Ventures, will join Unravel Data's Board of Directors.
Unravel Data is used by a number of Fortune 100 companies, including two of the top five global pharmaceutical companies and three of the world's top ten financial institutions, to gain unprecedented visibility across their data stacks, proactively troubleshoot and optimize their data workloads, and define guardrails to govern costs and improve predictability.
Company: Unravel Data Systems, Inc.
Raised: $50.0M
Round: Series D
Funding Month: September 2022
Lead Investors: Third Point Ventures
Additional Investors: Bridge Bank, Menlo Ventures, Point72 Ventures, GGV Capital, and Harmony Capital
Company Website: https://www.unraveldata.com/
Software Category: DataOps observability platform
About the Company: Founded by Big Data pioneers Kunal Agarwal and Dr. Shivnath Babu, Unravel Data is a dataOps observability platform for modern data clouds. Unravel Data radically transforms the way businesses understand and optimize the performance and cost of their modern data applications—and the complex data pipelines that power those applications. Unravel's market-leading DataOps observability platform leverages AI, machine learning, and advanced analytics to provide modern data teams with the actionable recommendations they need to turn data into insights. Its mission is to empower data teams to do their jobs faster and better. Some of the world's most recognized brands, like Adobe, 84.51 (a Kroger company), and Deutsche Bank, rely on Unravel Data to unlock data-driven insights and deliver innovations to the market.
Source: https://www.unraveldata.com/welcome-third-point-ventures-series-d-funding/