One sentence summary – Toronto-based company Secoda has secured $14 million in a Series A funding round led by Craft Ventures, with participation from Abstract Ventures, YCombinator, and Garage Capital, to enhance its AI-powered platform that enables enterprise users to easily search, understand, and utilize company data regardless of their technical background, with plans to strengthen their engineering team, conduct additional research and development, expand the platform’s capabilities, and introduce a feature called Secoda Monitoring to ensure data quality and accuracy.
At a glance
- Toronto-based company Secoda secures $14 million in Series A funding round
- Funding intended to enhance AI-powered platform
- Funding led by existing investor Craft Ventures
- Participation from Abstract Ventures, YCombinator, and Garage Capital
- Secoda’s platform enables easy search, understanding, and utilization of company data
The details
Toronto-based company Secoda has recently secured $14 million in a Series A funding round.
The funding is intended to further enhance its AI-powered platform.
The funding round was led by existing investor Craft Ventures.
It also included participation from Abstract Ventures, YCombinator, and Garage Capital.
Secoda’s Platform
Secoda’s platform is designed to enable enterprise users to easily search, understand, and utilize company data.
This is regardless of their technical background.
The platform integrates with business intelligence and transformation tools.
It also integrates with data warehouses.
Unified and Reliable Source of Truth
Secoda aims to create a unified and reliable source of truth for company data.
The platform leverages a ChatGPT-powered assistant.
This allows users to write documentation and conduct natural language queries on their company’s unified data catalog.
Secoda’s platform has proven successful in reducing inbound data requests.
It also reduces onboarding times.
And it reduces the time spent on documentation for data teams.
Future Plans
Secoda plans to utilize the funding to strengthen their engineering team.
They also plan to conduct additional research and development.
And they plan to expand the platform’s capabilities.
This will have a particular focus on the AI aspects.
Secoda intends to introduce Secoda Monitoring.
This is a feature aimed at assisting data teams in ensuring data quality and accuracy.
Over the past year, Secoda’s customer base has grown fivefold.
The platform currently manages over 100 million metadata resources.
Presently, the platform supports 36 popular data warehouses, business intelligence tools, and productivity platforms.
There are plans to add more connectors based on popularity and demand.
Secoda’s latest funding round and their continued growth in customer base demonstrate the increasing demand for their AI-powered platform.
This platform aims to simplify the search, understanding, and utilization of company data for enterprise users.
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| venturebeat.com |
|---|
| – Toronto-based Secoda has raised $14 million in a Series A funding round to further develop its AI-powered platform for data search, cataloging, lineage, and documentation. – |
| The funding round was led by existing investor Craft Ventures, with participation from Abstract Ventures, YCombinator, and Garage Capital. – Secoda’s platform aims to allow any enterprise user, regardless of their technical background, to easily search, understand, and use company data. – |
| The platform integrates with business intelligence and transformation tools as well as data warehouses to create a single source of truth for company data. |
| – Secoda uses a ChatGPT-powered assistant to enable users to write documentation and search their company’s unified data catalog with natural language queries. – |
| The platform has been successful in reducing the volume of inbound data requests, onboarding times, and time spent on documentation for data teams. |
| – Secoda plans to use the funding to strengthen its engineering team, conduct more R&D, and build out the platform, particularly focusing on the AI aspects. – |
| The company will also introduce Secoda Monitoring to help data teams ensure data quality and accuracy. |
| – Secoda’s customer base has grown fivefold over the past year, with over 100 million metadata resources under management. – |
| The platform currently supports 36 popular data warehouses, business intelligence tools, and productivity platforms, with plans to add more connectors based on popularity and demand. |
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