California, USA-based company operating the DataHub Project, an open source data catalogue, Acryl Data raised USD 21 million in Series A financing. The round took place on June 22, 2023. Bhaskar Ghosh, Partner at 8VC, led the financing for the company. Meanwhile, Ram Shriram, Founder of Sherpalo Ventures and Guillermo Rauch, Founder and CEO of Vercel, joined in Series A.
So far, the company’s total funding stands at USD 30 million.
Purpose of financing for Acryl Data
With the latest capital injection from the Series A funding, Acryl Data seeks to deepen investments in customer success.
It also has plans to fuel the development of its cloud offering. Meanwhile, the company looks forward to extending the vision of its product towards a control plane for data.
What the company’s official has to say
Shirshanka Das, the co-founder at Acryl Data, said, “The explosion of data over the past decade has driven both opportunities and challenges for businesses. Companies embraced various technologies and platforms to store, process, and analyze their data but now find themselves facing a fragmented data landscape. Siloed datasets, disparate tools, and a lack of unified control have created inefficiencies and hindered collaboration between technical and business teams. Further, the industry has addressed fragmentation with more fragmentation, as governance and observability tools have been unnecessarily separated, leading to inefficient and inconsistent solutions. Through the industry’s first open control plane for data, we have designed Acryl Cloud to take these problems head-on.”
CEO Swaroop Jagadish further added, “I would like to thank our team, our customers and the DataHub community, all of whom have been critical in the evolution of Acryl Data. I am very excited about the innovations we have brought to market so far and enthusiastic about the road that lies ahead for Acryl as we work to deliver modern data management to the enterprise.”
What the investors have to comment
Bhaskar Ghosh, Partner at 8VC, said, “8VC and Acryl share a vision for the future, in which enterprises can consolidate control of each of the various pieces of their data stack within a single platform, reducing complexity and accelerating innovation. Shirshanka, Swaroop and the team are ideally positioned to harness the power of DataHub and solve the hard problems that have historically stood in the way of this vision.”
Besides, Ram Shriram, Founder, Sherpalo Ventures, commented, “The growth of data-driven decision-making has led to an increasingly fragmented data ecosystem. We’re excited to join Acryl in its journey to help organizations manage this new decentralized environment, bringing data teams closer to the business and enabling even casual users to interact directly with data insights. Shirshanka as well as Swaroop have been at the forefront of these efforts from the beginning and are well-situated to overcome many of the obstacles that exist in the industry.”
Guillermo Rauch, Founder and CEO of Vercel, said, “There is a compelling wave of data innovations on the horizon, from data contracts and distributed data mesh architectures to the broad changes that machine learning and AI promise to deliver. The question for many organizations is how to wade into these ventures safely, and I believe Acryl can be the control plane to bring these revolutions into reality.”
About Acryl Data
Acryl is led by co-founders Swaroop Jagadish and Shirshanka Das. Acryl’s product – Acryl Cloud – is an enterprise-ready data management platform using open-source DataHub Project.
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