Alation, a US-based collaborative data platform developer backed by media company Bloomberg, completed a $23m series B round yesterday led by venture capital firm Icon Ventures.
VC firms Harmony Partners and Costanoa Ventures also took part in the round, along with VC fund Data Collective. Icon general partner Michael Mullany will join the company’s board of directors.
Alation has built a software platform that facilitates the collaborative cataloguing, selection and interpretation of enterprise data. The company said the series B capital will allow it to “scale rapidly” in order to meet demand for its product.
Satyen Sangani, co-founder and CEO of Alation, said: “Organisations have more access to data than ever while CDOs (chief data officers) are looking to get more people to leverage the data in ways that generate value and adhere to proper data governance.
“Increasingly, CDOs are tackling these data issues with data catalogues at the centre of their strategies.”
Bloomberg had also contributed to Alation’s $9m series A round in early 2015, through its data-focused investment fund Bloomberg Beta. Costanoa and Data Collective co-led that round, which included VC firms Andreessen Horowitz and General Catalyst Partners.