The company will use the capital to fuel growth and product development.
Alation announced this week that it has raised a $110 million Series D round of investment. The injection round was led by Riverwood Capital with participation from new investors Sanabil Investments and Snowflake Ventures. Existing investors Costanoa Ventures, Dell Technologies Capital, Icon Ventures, Salesforce Ventures, Sapphire Ventures, and Union Grove Partners also contributed to the round.
Total funding raised stands at $217 million. Alation’s current market valuation is $1.2 billion.
Alation is a comprehensive, AI-powered, single source of reference for an organization’s data, according to the company. They claim their “powerful” search & discovery capabilities help collaboration and support data-driven decision-making.
And that seems to be true, as Alation has been growing quickly. Their customer base stands at more than 250, including global brands such as Bank of Montreal, Cisco, Exelon, Fifth Third Bank, GE Aviation, Munich Re, Nasdaq, New Balance, Pfizer, Travelers Insurance, and Vattenfall. To help customers drive additional value from their data and analytics investments, Alation has partnered with an extensive list of best-of-breed technologies, including AWS, Salesforce, and Snowflake.
These partners have now also become stakeholders.
The investment round will help fuel growth and innovation
The capital will help Alation meet increasing global demand for its data intelligence platform, the company says. Beyond accelerating go-to-market, the financing will also fund innovation in the form of new products and capabilities, furthering the company’s position in the data intelligence market. In addition, the company continues its expansion into new geographies, verticals, and product areas.
“There’s never been a stronger demand for Alation,” said Satyen Sangani, CEO and co-founder of Alation. “Alation empowers leading global brands to find, understand, and trust data. With the support of this investment group led by Riverwood, I could not be more thrilled with the opportunities this capital unlocks. We’ll be able to go faster. This is what our customers like Blackstone and Salesforce want.”
“This is what our partners like Snowflake, Tableau, and Capgemini want. Most critically, it’s what people who use data desperately need to make decisions and innovate.”