US-based data management software provider Alation has completed a $50m series C round that included customer relationship management software provider Salesforce’s corporate venturing unit, Salesforce Ventures.
Sapphire Ventures, the venture capital firm spun out of enterprise software provider SAP, led the round, which also featured Data Collective, Harmony Partners, Costanoa Ventures and Icon Ventures.
Alation has built a collaborative data cataloguing platform that utilises machine learning to index an enterprise’s data and highlight potentially relevant metadata in order to help users make more informed business decisions. It will channel the series C capital into improving its core product.
The round boosted the company’s overall funding to $82m since it was founded in 2012. Data Collective and Costanoa co-led its $9m series A round in 2015, investing with media group Bloomberg’s corporate venturing arm, Bloomberg Beta, Andreessen Horowitz and General Catalyst.
The company subsequently added $23m in a mid-2017 series B round led by Icon Ventures and backed by Harmony Partners, Costanoa and Data Collective.
Satyen Sangani, Alation’s co-founder and chief executive, said: “With the support of Sapphire, Salesforce and our existing investors, we are confident that we will continue to accelerate our company growth and meet the growing demand for data catalogues around the globe.”
