DataOps.live, a leading data products company founded in 2020, has announced the successful completion of a Series A financing round, raising more than €16million. The round was led by new investor Notion Capital, with participation from existing investors Anthos Capital and Snowflake Ventures. This investment will fuel DataOps.live’s expansion as it continues to empower organisations in building, testing, and deploying data products and applications on the Snowflake platform.
The innovative startup has experienced remarkable growth, achieving a staggering 400% Annual Recurring Revenue (ARR) growth in FY23. The increased demand for its products has propelled the company forward, solidifying its position. Over the past year alone, DataOps.live’s Software-as-a-Service (SaaS) platform has facilitated more than 1 million pipeline runs, orchestrated over 10 million jobs, and performed over 50 million tests. With a rapidly expanding customer base, DataOps.live anticipates sustained momentum as it expands its product offerings and increases market share.
CEO Justin Mullen expressed excitement about the new investor and stated: “We’re thrilled to welcome Notion Capital to the DataOps.live family. Their investment is a validation of our vision to make DataOps more efficient, scalable, and secure for enterprises of all sizes.”
The fast-growing company provides a comprehensive platform that streamlines and automates data operations (DataOps), empowering organisations to effectively manage and analyse vast amounts of data. By automating repetitive tasks, increasing efficiency, and improving security, they have consistently delivered significant cost reductions for its clients, averaging over 30% and often surpassing that figure.
Stephanie Opdam, Principal at Notion Capital, emphasised the importance of data management in business and the value of DataOps.live’s solution. Opdam commented: “Today, data is the lifeblood of business, but managing and scaling data operations can be a daunting task. DataOps.live is at the forefront of a movement that enables companies to improve data quality, streamline data processes, and accelerate product development. We believe it has the potential to become the next category leader in a market estimated valued over €2.5 billion.”
The market for data products is rapidly expanding, with Gartner predicting that data engineering teams guided by DataOps practices and tools will be ten times more productive than those without. In its “Market Guide for DataOps Tools,” Gartner estimated the DataOps market’s potential to exceed €2 billion by 2025. These projections underscore the immense opportunity that lies ahead for DataOps.live as it continues to shape the DataOps category.
Jeff Stapleton, Investment Professional at Anthos Capital, expressed confidence in the management team and their ability to lead in the DataOps space. Stapleton mentioned: “We are excited to continue partnering with DataOps.live as they help define categories and empower data teams at the world’s largest organisations to build data products that delight their customers and internal stakeholders.”
Read the orginal article: https://www.eu-startups.com/2023/05/london-based-dataops-live-raises-over-e16million-to-help-organisations-build-and-manage-data-products-and-applications/
