By ET Bureau - November 04, 2022 1 Mins Read
Alation, a platform for data intelligence, declared that it had raised USD 123 million in a series E funding round.
Following five consecutive quarters of accelerated annual growth, including most recently surpassing USD 100 million in annual recurring revenue, this raises Alation’s valuation by nearly 50% to surpass USD 1.7 billion (ARR). Customers are embracing the integration pattern widely, and the company is growing its list of partners who have made integration investments. Investors in Alation are also subject to the ecosystem approach.
The series E financing is led by Thoma Bravo, Sanabil Investments and Costanoa Ventures, with participation from a new investor, Databricks Ventures.
Read More: Data intelligence platform Alation bucks economic trends, raises $123M
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