Home Breaking News US based Monte Carlo raises USD 25 Million

US based Monte Carlo raises USD 25 Million

San Francisco based organization Monte Carlo secured USD 25 Million funds on 9th of February, 2021 in Series B funding round led by GGV and Red Point. The company has secured a total of USD 41 Million in funding over 3 rounds.

Investors: The association has acquired a capital of around USD 25 million in series B round led by Red Point and GGV along with the participation of previous investors like Accel and Starwood Capital ventures. 

What the funding is for: The fresh funding would be utilized for expanding their staff base and their infrastructure. According to sources the company is also aiming to discover mid-market and enterprise customer targets and in improving their user interface protocol. 

Founder of the company: Barr Moses and Lior Gavish

Legal name of the company: Monte Carlo, Inc.

Also known as: Monte Carlo Data

Founded date: 2019

About the company: Monte Carlo is a privately held organization which operates under the internet industry. Its headquarters is established in San Francisco, California and has a work strength of around 51-200 employees. They deal with various specialties like data elimination, data downtime and much more. 

What the CEO has to say: “Companies now have myriad data sources. That’s great in theory as more is usually a good thing. But if one or two of those sources goes haywire figuring that out before you collect, store and analyse the bad information is pretty important”. Said Co- Founder of the company Barr Moses. 

“Monte Carlo is another bet in the data space, sitting a bit earlier in the data lifecycle. Think of it in this way: Snowflake can hold all of your data and data bricks can help you analyse it. But what’s checking to make sure that data flowing into your repositories is. Figuring out if data inflows are healthy and not bunk is what Monte Carlo does”. Said Lior Gavish, Co-founder of Monte Carlo. 

What the investors have to say: “Monte Carlo sites upstream from other data companies which are hot these days, keeping tabs on inbound data sources across a number of parameters to make sure that what’s actually arriving in your data lake is right. Hearing that Monte Carlo learns from a company’s particular data pipes to figure out what could be nonstandard data on flow made us curious about how long it takes to bet software gets started”. Saud General Manager at GGV. 

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