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Atlan Secures $105 Million in Series C Funding, Valuation Surges to $750 Million

atlan

Atlan has secured $105 million in its Series C funding round, with leading investment from GIC, Singapore’s sovereign wealth fund, and Meritech Capital. Notably, this round also saw continued support from existing investors such as Salesforce Ventures and Peak XV Partners. This funding follows a previous tranche of $27.5 million raised in March.

Previously, Atlan had garnered approximately $50 million in a Series B round in March 2023 and $16 million in a Series A round led by Insight Partners in May 2021. The company’s valuation has soared to around $750 million, marking a significant increase from its valuation of $450 million in the Series B round.

Atlan provides a platform for large enterprise teams to collaborate effectively on data projects, offering a centralized repository for all data assets with seamless integrations with tools like Slack and data warehouses such as Snowflake and Redshift. Its clientele includes prominent names like Ingersoll Rand, Cisco, Autodesk, Unilever, Ralph Lauren, FOX, News Corp, Nasdaq, NextGen, Plaid, and HubSpot.

The company boasts remarkable financial growth, with revenues expanding over sevenfold in the past two years, an 80% success rate in competitive trials, and a 400% increase in enterprise sales growth in Q1 2024. Although specific revenue figures were not disclosed, Atlan’s Indian entity reported a threefold increase in operating scale to Rs 94 crore in FY23, with a profit of Rs 7.7 crore.

During the Series B round, co-founders Sankar and Varun Banka held a 23.63% stake each in the company. Insight Partners emerged as the largest external stakeholder. For comprehensive details on Atlan’s ownership structure, visit TheKredible.

Tags: AtlanFUNDING