Unravel Data has raised $35 million in a popular Series C funding round led by Point72 Ventures. Existing investors Menlo Ventures, GGV Capital and M12 (formerly Microsoft Ventures) also participated alongside Harmony Partners. The amount raised is just over double that raised in the Series B round led by GGV Capital just over a year ago in January 2018.
Unravel Data provides a solution that allows companies to better understand and manage their data. Powered by AI it monitors, manages and improves the data pipelines for organisations helping to drive better performance in data driven applications. It was recognised as a cool vendor by Gartner in 2018 in performance analysis. Unravel Data has experienced phenomenal growth with an Annual Recurring Revenue (ARR) of 500%.
Kunal Agarwal, CEO, Unravel Data commented: “Every business is becoming a data business, and companies are relying on their data applications such as machine learning, IoT, and customer analytics for better business outcomes using technologies such as Spark, Kafka, and NoSQL. We are making sure that these technologies are easy to operate and are high performing so that businesses can depend on them. We partner with our customers through their data journey and help them successfully run data apps on various systems whether on-premises or in the cloud.”
Enterprise Times: What does this mean
The ARR growth at Unravel Data is rare. It demonstrates that it has found a solution that the market wants. It already has offices in the US, UK and India and has several global organisations as customers. While the press release does not indicate whether the money will go in further R&D or expansion, one suspects the latter as it looks to expand its operations into new markets and take advantage of its technological lead. For those companies that believe that they data may hold further benefits and secrets it seems worthy of attention.