Soda, an AI-enabled data quality company, announced it has successfully added a further €12.9 million investment from strategic partners and existing investors including Singular and Point Nine.
After achieving financial self-sufficiency over the past 12 months, and with support from a growing global community of users including Disney, HelloFresh, Abercrombie & Fitch, and Bloomberg, Soda will use the fresh funds to build its global team further, significantly expanding its New York City headquarters with experienced go-to-market talent to continue its growth in North America.
The next step for the Soda platform will focus on integrating AI into the workflow of data engineers to suggest and automate testing and observability for the data layer.
“Over the past 12 months, Soda has charted a course to financial self-sustainability which has been reliant on a world-class team, valued and active support from a global community of users, and an unwavering vision to democratize data quality,” explained Maarten Masschelein, CEO of Soda.
Bolstered by AI which is expected to contribute up to $15.7 trillion to the global economy by 2030, the market for solutions that can deliver trusted data is stronger than ever. Soda is answering this demand with a practical, low-friction approach that means everyone inside a business can work with reliable, high-quality data. The additional investment enables Soda to continue building a sustainable business model where company and market growth are tightly aligned.
Soda believes that AI has the potential to transform the data testing and observability industry. The company has already made significant investments in becoming a GenAI-first platform, pioneering the use of GenAI for data quality testing with the introduction of SodaGPT in 2023, and continuing to release new AI features under the recently announced Soda AI umbrella. Soda AI is a growing suite of data quality tools designed to increase productivity which includes SodaGPT, Anomaly Detection, and OpenAI Assistants.
Masschelein, added: “It’s been a challenging year for a lot of technology companies, which is why we are proud to have achieved self-sustainability whilst keeping our team intact. We now welcome this additional funding support to give us the strongest possible platform to capitalize on the huge investment in AI which has highlighted the critical value of data quality.”
Read the orginal article: https://www.eu-startups.com/2024/07/brussels-based-soda-snaps-e12-9-million-to-expand-its-data-quality-platform-in-the-us/
