US-based data mobility software developer Blitzz has rebranded to Arcion having raised $13m in a series A round featuring data analytics software provider Databricks.
Venture capital firm Bessemer Venture Partners led the round and Sakib Dadi, a vice-president at the firm, is joining the company’s board in conjunction with the deal.
Founded in 2016 as Blitzz, Arcion provides a cloud-native software platform that allows companies to replicate and move terabytes of data across different databases, applications and cloud platforms using zero-code technology.
The company raised over $5m from undisclosed investors in February 2021, according to a securities filing. It claims to be the only modern software product to mobilise data from difficult transactional databases like SAP, IBM and Oracle.
The ongoing digitisation of daily life that has expanded during the covid-19 pandemic has made cloud migration, data management software and data warehousing operations crucial to the seamless functionality on which many companies rely.
Data analytics software provider Snowflake went public in September 2020 in a $3.36bn initial public offering that included a $250m investment by enterprise software provider Salesforce’s corporate venturing subsidiary, Salesforce Ventures.
Chinese state-backed conglomerate China Resources led a round for data analytics technology provider TalkingData sized at approximately $100m in January 2021 through its CR Data Fund.
Gary Hahmueller, Arcion’s newly appointed chief executive, said: “Over the last 25 years of selling into enterprises, I have seen all my customers struggle with a lack of access to real-time data. This lack of access always resulted in apps that generated limited business value, brittle data pipes, broken applications and countless missed opportunities,
“Arcion has developed a unique, category-defining product that enables companies to extract maximum value from their own data, instantaneously and without the need for an army of data engineers.
“I cannot wait to introduce Arcion to the broader market so that companies modernising their data architectures can experience just how transformational this platform is.”
Databricks set up its own corporate venturing unit, Databricks Ventures, in December 2021, to invest in early and growth-stage rounds for data and artificial intelligence-powered companies.
The company is fresh off its own big year of fundraising, having secured $1.6bn in a series H round led by investment bank Morgan Stanley’s Counterpoint Global unit in August 2021 at a post-money valuation of $38bn.
The round followed a February 2021 series G that raked in $1bn from investors including software producer Microsoft, internet and technology conglomerate Alphabet, e-commerce group Amazon and enterprise software provider Salesforce.
Image courtesy of Markus Spiske via Unsplash.
