Team Blitz India
NEW DELHI: Data collaboration software startup Atlanraised $105 million in fresh capital in a funding round led by Singapore’s sovereign wealth fund GIC and US-based venture investor Meritech Capital, valuing the company at $750 million.
The large round at a significant jump in valuation or Atlan comes as the company aims to capitalise on the opportunity from large corporations looking to make their databases suitable for artificial intelligence.
The company had closed its last funding round of $50 million in March 2022, which valued it at $450 million.
With this funding, Atlan has raised a total of $206 million since being founded in 2019.The fundraising comes at a time when software-as-a-service (SaaS) firms are getting bigger cheques, even as valuation multiples for companies in this space are whittling down.
