Unravel Data Grabs $50 Million Funding

Unravel Data, the first DataOps observability platform built to meet the needs of modern data teams, has announced that it has closed a $50 million Series D round of funding to accelerate the next generation of DataOps observability. Third Point Ventures led the round, with participation from Bridge Bank and existing investors including Menlo Ventures, Point 72, GGV Capital, and Harmony Capital, bringing Unravel Data’s total funding to $107 million.

Last week, Unravel Data announced the opening of its Hyderabad office, the company’s second in India after Bangalore. It also stated that it intends to triple its workforce in India, focusing on Artificial Intelligence, Big Data, and Cloud DevOps skills.

The investment comes at a time when large enterprises are grappling with the challenge of managing an overwhelming number of data pipelines used for data products, advanced modelling, and business-critical reporting, as well as when the complexity of data systems is heightened by the shift to multi-cloud strategies and burdened by over-provisioned environments. As a result, data teams are struggling to deliver data outcomes in a timely and cost-effective manner while also managing the seemingly endless rise in cloud compute and storage costs.

Unravel Data will use the investment to expand the Unravel Platform to help connect the dots from every system in the modern data stack, including Databricks, Snowflake, Amazon EMR, BigQuery, and Dataproc, within and across the most popular data ecosystems. As the number of systems and data pipelines escalate, an entirely new way to manage and optimize the data pipelines that support the real-time analytics ambitions of the data-driven enterprise is needed.

Curtis McKee, Partner at Third Point Ventures, said in a statement that as enterprises invest in building data products that increase customers, revenue, and efficiencies, the DataOps observability market is set to explode. They are excited to collaborate with Unravel Data because the company has paved the way and established a track record of success in assisting some of the world’s most recognised brands in simplifying their data operations so that they can bring new data-driven innovations to market.

Kunal Agarwal, CEO, Unravel Data, said in a statement that data engineers and data scientists are currently debugging and troubleshooting issues on the thousands of data pipelines in their environment for more than half of the day. Data teams require the same kind of full-stack visibility, automation, and actionable intelligence that meet their needs around data pipeline performance, cost, and quality that the DevOps market required a decade ago to transform the application lifecycle.

Unravel Data was founded by Big Data pioneers Kunal Agarwal and Dr. Shivnath Babu out of the realisation that the exponential growth of data, combined with widespread adoption of the public cloud, would necessitate an entirely new way to manage and optimise the data pipelines that support the data-driven enterprise’s real-time analytics ambitions. Numerous Fortune 100 companies rely on Unravel Data to gain unprecedented visibility across their data stacks, proactively troubleshoot and optimise their data workloads, and define guardrails to govern costs and improve predictability. Customers who have deployed Unravel have been able to double productivity of data teams and ensure data applications run on time, while being able to scale cost efficiently on the cloud.

Jeff Lambert, VP of Data Solutions, 84.51°, said, “At 84.51 (a Kroger company), we leverage cutting-edge data science and advanced analytics to create highly personalized experiences for millions of consumers. Our ability to proactively monitor the performance, cost, and quality of our data pipelines is foundational to our mission. Unravel enables us to see across our entire data environment, enabling our team to quickly understand which workloads are running well and which ones are having issues, and make recommendations on how we can fix the problems.”

As part of the new funding, Curtis McKee, Partner at Third Point Ventures, will be joining Unravel Data’s Board of Directors.