Atlan AI startup is valued at $750 million

By Consultants Review Team Thursday, 09 May 2024

Perhaps the only new age IT sector that has shown investor interest in spite of the worldwide slump in tech investment is artificial intelligence (AI). Atlan, a US-based AI business founded by Prukalpa Sankar and Varun Banka, two Indian entrepreneurs, has secured $105 million in investment from GIC, Singapore's sovereign wealth fund, and Meritech Capital, a co-investor, at a value of $750 million.

The round included participation from returning investors Peak XV Partners and Salesforce Ventures, bringing the five-year-old company's total funding to over $200 million. Atlan is developing an AI and data governance platform.

With the most recent series C round, Atlan has received over $206 million. Its data stack, which bears its name, unites a variety of data from both internal and external sources into a single interface.

Rupert Murdoch's News Corp., market operator Nasdaq, luxury brand Ralph Lauren, and software company Autodesk are among its clients. It had a $50 million financing in March 2022 at a $450 million valuation, with Salesforce Ventures, Insight Partners, and Sequoia Capital India leading the effort.

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