DataOps.live, a data products company headquartered in London, revealed on Wednesday that it has successfully raised $17.5M (equivalent to approximately €16.2M) in its latest Series A funding round. Notion Capital, a new investor, has joined forces with existing investors Anthos Capital and Snowflake Ventures to contribute to this round.
With the newly acquired funds, the UK-based company intends to bolster its product portfolio and augment its market presence. This investment arrives 15 months after the company’s initial seed funding of $10M (around €9.2M) in January 2022.
“We are delighted to have Notion Capital join the DataOps.live community,” expressed CEO Justin Mullen. “Their investment serves as validation for our mission to enhance the efficiency, scalability, and security of DataOps for enterprises of all scales.”
Automating data operations
Justin Mullen and Guy Adams, the co-founders of DataOps.live, devised the platform to tackle prevalent data challenges faced by numerous clients, including sluggish development timelines, overwhelmed teams, and inadequate quality and version control.
The company offers an advanced platform that empowers organizations to construct, test, and deploy Data Products through the streamlining and automation of data operations (DataOps). This enables companies to effectively manage and analyze vast volumes of data.
By automating repetitive tasks, enhancing efficiency, and strengthening security, the platform aids companies in achieving significant cost reductions, surpassing 30% and often exceeding expectations for clients.
DataOps.live proudly reports substantial growth, with a remarkable 400% year-over-year growth in Annual Recurring Revenue (ARR) during FY23.
At present, the company boasts an impressive track record, with over 1 million pipelines actively running, more than 10 million orchestrated jobs, and over 50 million tests conducted over the past year.
About the Investor
Notion Capital is an investment firm specializing in European SaaS and Cloud ventures, with an extensive portfolio of over 100 investments. Among the notable companies in Notion’s portfolio are Cobee, Dixa, GoCardless, Mews, Paddle, Unbabel, and YuLife.
Stephanie Opdam, a Principal at Notion Capital, emphasizes the significance of data in today’s business landscape, acknowledging the challenges associated with managing and scaling data operations. She explains that data demands can outpace the capabilities of operations teams, resulting in slow or isolated development efforts.
Opdam recognizes DataOps.live as a pioneering force that empowers companies to enhance data quality, streamline multiple data processes concurrently, and expedite product development. Noting the exceptional team, remarkable product, and impressive progress of DataOps.live, she believes it possesses the potential to emerge as the leading player in a $3 billion market.