In recent years, there has been an explosion of tools that allow businesses to connect, transform, analyze and serve data from all sorts of sources. Combined with increasing pressure on businesses to digitally transform their operations, this can lead to many solutions that are not easy to maintain or scale. Research from Forrester estimates that 73% of company data is not used and never analyzed, and another study found that 69% of business leaders failed to create “data-driven” organizations.
A partial solution may lie in data management software. There are many of them, but the last ones to attract funding are Atakkama, which today announced it has raised $150 million from Bain Capital Tech Opportunities, representing a minority investment in the company. A source familiar with the matter told TechCrunch that the round values Ataccama at $550 million.
Founded in 2007, Ataccama develops data management, data catalog, data quality and data management capabilities for enterprises.
“Ataccama’s growth potential can be quickly accelerated by expanding its go-to-market functions (brand, marketing, sales, customer success, etc.) – this is the first area where some of the funds will be directed,” said CEO Michal Klaus. . TechCrunch in an email interview. “The second big opportunity is continued product innovation to bridge the gap between the democratization of data and the need for centralized data management and data quality management. The third direction…is closer integration with major data processing platforms such as Snowflake, Databricks and others.”
Ataccama is a subsidiary of data integration systems integrator Adastra. According to Klaus, the founders — David Holes, Jan Mrazek, Jan Czervinka, Piotr Yeh, and himself — experienced data quality issues in their data integration projects that caused delays or failures in achieving desired business results for clients. After building a proof-of-concept product in Adastra, the team decided the opportunity was big enough to found a dedicated product-focused company: Ataccama.
The Ataccama platform falls under the category “data fabric”, a combination of technologies that help identify, connect, clean and enrich data to reveal relationships between data points. Among other services, Ataccama provides data quality checks, monitoring and correction. The platform can automatically discover data in various local and public cloud sources, as well as transform this data and collect or create metadata from it (for example, origin).
Using Ataccama, users can import and install business term definitions, access policies, data quality rules, data models, and other metadata. Ataccama can process data formats to conform to a common standard, continuously reporting data status for rule compliance, aggregation, and visualization. (For example, an engineer might get warnings like “Dataset contains many invalid values” or “This dataset contains credit card information.”) The platform may also attempt to add missing information from external data sources and reference data by filling in gaps in the datasets.
“We use AI to enable both technical and non-technical users to find the data they need, understand it, evaluate it, and improve its quality,” Klaus said. “Business and government leaders know that data is the source of innovation and competitive advantage. At the same time, it is impossible or impractical to centrally manage innovation based on data. Rather, it should come from empowered groups and individuals – they should have access to all kinds of data sources, they should be allowed or even encouraged to use the data, process it, get information, create apps, and more. . All of this poses a serious risk to compliance, security and governance.”
The data factory has its drawbacks – the main one is the complexity of implementation. For example, data factories require the disclosure and integration of different data and systems, which can often format data in different ways. This lack of native interoperability can add friction, such as the need for data reconciliation and deduplication.
In addition, Ataccama competes with major data management vendors. Informatics publicly traded, while collibra recently raised $250 million, more than double his estimate. There is also Reltio, which hit The annual recurring income this year is $100 million.
Klaus claims that Ataccama is a running business that has not received any outside investment until now. The company has about 200 corporate customers in banking, financial services, insurance, life sciences, healthcare and retail, and about 200 additional corporate customers using Ataccama technology provided by OEM partners.
“Ataccama has been profitable since 2011, consistently generating positive cash flow and being able to invest in various growth or transformation initiatives. Growth has accelerated over the past 18 months with 86% year-over-year consistent revenue growth,” Klaus said. “The pandemic itself initially slowed the company’s growth for about six months, but pent-up demand for our technology made up for this in the next two quarters. As for the slowdown in the economy, we are preparing for various scenarios, but in general, the consequences could potentially be that projected growth could slow down. At the same time, we will continue to invest in our product, which will truly help organizations operate more efficiently through automation.”
Dewey Awad, Managing Director of Bain Capital Tech Opportunities, added in an emailed statement:
Clearly, companies are prioritizing greater control over their data in hybrid and cloud environments, and the ability to gain deeper and more accurate insights from that data. This demand arises throughout the organization, requiring a data management system that is intuitive for employees of various functions and departments… We are pleased to partner with [Klaus] and his team to redouble product innovation and go-to-market efforts to accelerate the major gap opportunities they see in nearly every industry.
Ataccama says it plans to increase its workforce from 468 to over 500 over the next few months.
Credit: techcrunch.com /