LONDON, May 24, 2023 /PRNewswire/ -- DataOps.live, The Data Products Company, announced today that it has raised $17.5M in a recent Series A financing round. The investment comes 15 months after the company's initial seed funding of $10m in January of 2022, during which time the market has grown exponentially. The round includes new investor Notion Capital, who joins existing investors Anthos Capital and Snowflake Ventures.
The new investment comes as DataOps.live experiences explosive growth, with a breakout FY23 that saw 400% ARR growth as demand for its products accelerated and market awareness grew. Use of the DataOps.live SaaS platform has grown exponentially, with more than 1 million pipelines runs, more than 10 million jobs orchestrated, and more than 50 million tests performed over the last year. The company's momentum is expected to continue, as it expands its product offerings and increases its market share.
"We're thrilled to welcome Notion Capital to the DataOps.live family," said CEO Justin Mullen. "Their investment is a validation of our vision to make DataOps more efficient, scalable, and secure for enterprises of all sizes."
DataOps.live provides a platform that helps organizations build, test and deploy Data Products by streamlining and automating data operations (DataOps), making it easier for companies to manage and analyze large amounts of data. On average, DataOps.live has seen cost reductions in excess of 30% and often much greater for clients. Its products help companies automate repetitive tasks, increase efficiency, and improve security. With the new funding, DataOps.live plans to further develop its platform and expand its team.
Stephanie Opdam, Principal at Notion Capital, remarked that "Today, data is the lifeblood of business, but managing and scaling data operations can be a daunting task. Data needs can grow faster than operations teams can process, leading to either slow or one-off development efforts. DataOps.live is at the forefront of a movement that enables companies to improve data quality, streamline many data processes simultaneously and accelerate product development. DataOps.live has a fantastic and growing team, a great product, and impressive traction. We believe it has the potential to become the next category leader in a $3bn market."
The market for data products is growing rapidly, and DataOps.live is well-positioned to take advantage of this trend. In their recent "Market Guide for DataOps Tools," Gartner stated that "By 2025, a data engineering team guided by DataOps practices and tools will be 10 times more productive than teams that do not use DataOps." In the same guide, Gartner estimated "the DataOps market potential at around $3 billion." Both assertions serve to validate the opportunity seen by DataOps.live and more coverage is available in this blog post about the Gartner Market Guide.
"We are excited to continue partnering with the world class management team at DataOps.live as they help define the DataOps category and empower data teams at the world's largest organizations to build data products that delight their customers and internal stakeholders," said Jeff Stapleton, Investment Professional at Anthos Capital.
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