Atlan Raises $6.5 Million in Extended Series B Round
(99 words): Atlan, a data collaboration software provider, secured $6.5 million from WaterBridge Ventures in an extended Series B round. This follows a $50 million investment led by Salesforce Ventures in March 2022. The capital injection, done at a flat valuation of $450 million, involved issuing 24,092 Series B preference shares. Atlan facilitates seamless data collaboration for enterprise teams and recently introduced tag management to enhance data governance. With over 300 employees across 12 countries, Atlan has experienced significant growth since participating in Sequoia Capital India's accelerator program Surge.
Key Points:
- Atlan raises $6.5 million from WaterBridge Ventures in an extended Series B round.
- The company previously secured $50 million led by Salesforce Ventures in March 2022.
- Atlan issues 24,092 Series B preference shares for the fundraise.
- The investment is made at a flat valuation of $450 million.
- Atlan enables data collaboration for enterprise teams and introduced tag management.
- The company has over 300 employees across 12 countries.
- Atlan was part of Sequoia Capital India's accelerator program Surge.
- It reported a 3X jump in operating scale in FY23.
- Atlan's Indian entity recorded Rs 7.7 crore profit in the last fiscal year.
- Insight Partners holds the largest stake among investors in Atlan.