Alation raises $123M Series E financing to innovate data intelligence products ‘more aggressively’

Initial public offerings in the technology space have slowed down of late. Thus, companies are feeling added pressure to deliver new value areas for their users to maintain revenue growth projections and attract fresh VC investment.

Enterprise data intelligence company Alation Inc. is thriving on the value delivery front and, therefore, has been able to attract ample investor interest.

“We’re announcing that we raised $123M from a cohort of investors led by Thoma Bravo, Sanabil Investments, and Costanoa,” said Satyen Sangani (pictured), co-founder and chief executive officer of Alation. “We were able to do that because of the business performance, and it was an up round. And all of that’s great and gives our employees and our customers the fuel they need to get the product that they want.”

Sangani spoke with theCUBE industry analyst Dave Vellante during a CUBE Conversation from SiliconANGLE Media’s livestreaming studio in Boston. They discussed Alation’s recent funding round and the doors it opens toward the company’s long-term competitive positioning. (* Disclosure below.)

Staying relevant in the data intelligence niche

Having enjoyed five preceding quarters with increasing growth rates, Alation’s positioning of its data intelligence platform has played a considerable role in making a Series E round attainable, according to Sangani. The funds are especially clutch given the growth decelerations being caused by the economic environment.

“We’ve basically increased our growth rate to almost double since the time we raised our last round,” he said. “And from our perspective, the data intelligence market, which is the market that we think we have the opportunity to continue to be the leading platform in, is growing super fast.”

The funds will go toward Alation innovating more aggressively “when a lot of other folks are fearful,” in order to capitalize on the momentum it’s experiencing business-wise, Sangani added.

Data is being generated at unprecedented rates today, and it’s getting more difficult to manage and extract insights from it at scale. Despite cost reductions, Alation has seen situations where companies actually increased their commitment value in order to steer efficiently through the tough times.

“You’ve got to figure out what the right decisions are, and the best way to do that is to have a lot of data. A lot of people who understand that data to be able to capitalize on it make better insights and better decisions,” Sangani stated.

Here’s the complete video interview, one of many CUBE Conversations from SiliconANGLE and theCUBE:

(* Disclosure: Alation Inc. sponsored this segment of theCUBE. Neither Alation nor other sponsors have editorial control over content on theCUBE or SiliconANGLE.)

Photo: SiliconANGLE

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