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Atlan Raises $6.5 Million in Funding from WaterBridge Ventures

Updated: Mar 26

In an exclusive development, data collaboration software provider Atlan has secured $6.5 million in funding from WaterBridge Ventures. This investment is part of the extended Series B round, which saw Atlan raise a total of $50 million, led by Salesforce Ventures in March 2022.

According to regulatory filings made with the group company in Singapore, Atlan's board passed a special resolution to issue 24,092 Series B preference shares to raise the aforementioned amount.

Atlan Startup Funding News

The latest funding round values Atlan at a flat valuation of $450 million,

Atlan specializes in enabling large enterprise teams to collaborate seamlessly on data projects, providing a unified platform for managing all data assets. The software integrates deeply with various tools such as Slack and data warehouses including Snowflake and Redshift. Recently, Atlan introduced tag management to address challenges faced by data teams, making it one of the pioneering Snowflake data governance partners to enable bi-directional tag movement.

With a team comprising over 300 employees spread across 12 countries, including the United States, India, UK, Canada, Nigeria, Singapore, and the Philippines, Atlan has established a global presence.

Participating in Sequoia Capital India’s accelerator program Surge as part of its third cohort, Atlan has previously raised significant funding rounds. These include a $50 million Series B round in March 2023 and a $16 million Series A round led by Insight Partners in May 2021.

Following the Series B round, co-founders Prrukalpa Sankar and Varun Banka each retained a 23.63% stake in the company. Insight Partners, the lead investor in the Series A round, holds the largest stake among investors with a 15.4% ownership.

The infusion of funds from the Series B round facilitated Atlan's rapid growth, with its Indian entity reporting a threefold increase in operating scale, reaching Rs 94 crore in FY23. Additionally, the company achieved a profit of Rs 7.7 crore during the last fiscal year.


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