US based data cataloging company Alation announced last week that it has managed to close a USD 23 million series B funding round, which will be used towards the refinement and expansion of Alation’s collaborative data solutions. Organized by venture capitalists, the funding round was led by Icon Ventures and featured participation from Harmony Partners, Costanoa Ventures and Data Collective.
Alation’s expertise lies in its collaborative data cataloging system, which the company say is a new category of data management applications that enable users of self-service analytics to find, understand and store their data with greater ease. Alation go on to explain that its data cataloging platform combines machine learning and human insight to enhance data discovery and governance, thereby increasing data accuracy and reliability.
During the funding round, it was also revealed that Michael Mullany, a general partner at Icon Ventures, will assume the role of a director on Alation’s board effective immediately. Alation say his role in the funding and the future planning of the company will enable it to rapidly scale its offerings to meet enterprise demands for collaborative data catalogs.
Speaking after the funding round, Mr Mullany had this to say:
Traditional data governance, business intelligence tools, and metadata management solutions have failed to meet the self-service data needs of organizations. Only Alation provides the context, flexibility and versatility that modern organizations demand.
Alation has emerged with a powerful, machine learning-backed platform that provides strategic value to organizations. We are excited to back Alation and this incredibly talented team.
The latest funding round follows up on 2015’s series A round, at which time Alation had raised USD 9 million.