London-based DataOps.live, the data products company, announced on Wednesday that it has raised $17.5M (approximately €16.2M) in a recent Series A financing round.
The round includes new investor Notion Capital, who joins existing investors Anthos Capital and Snowflake Ventures.
The UK company aims to utilise the funds to expand its product offerings and increase its market share. The investment comes 15 months after the company’s initial seed funding of $10M (approximately €9.2M) in January 2022.
“We’re thrilled to welcome Notion Capital to the DataOps.live family,” says 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: Automating data operations
Co-founders Justin Mullen and Guy Adams developed DataOps.live to address common data problems that afflict most clients — slow development times, backlogged teams, and poor quality and version control.
The company provides a platform that helps organisations build, test and deploy Data Products by streamlining and automating data operations (DataOps), making it easier for companies to manage and analyse large amounts of data.
The platform helps companies automate repetitive tasks, increase efficiency, and improve security.
The company claims that its platform has seen cost reductions of over 30 per cent and is often much greater for clients.
DataOps.live says it has witnessed massive growth, with a breakout in FY23 that saw 400 per cent ARR growth.
Currently, the company has more than 1M pipelines running, more than 10M jobs orchestrated, and more than 50M tests performed over the last year.
Notion Capital is a venture capital investment firm focused on European SaaS and Cloud, with more than 100 investments to date. The Notion portfolio includes Cobee, Dixa, GoCardless, Mews, Paddle, Unbabel and YuLife
Stephanie Opdam, Principal at Notion Capital says, “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 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 $3B market.”