Monte Carlo, an Israeli-American startup specializing in data observability technology, has announced the closing of a $135 million Series D funding round headed by IVP, with participation from Accel, GGV Capital, Redpoint Ventures, ICONIQ Growth, Salesforce Ventures, and GIC Singapore.
This makes the total fundraised to date $236 million. The company value of the round was $1.6 billion.
Founded in 2019 by Lior Gavish and Barr Moses. Moses served as vice president of customer operations at Gainsight, advising Fortune 500 firms on how to leverage data as a competitive advantage. Lior Gavish, was previously SVP of Engineering at Barracuda, where he developed fraud detection solutions backed by data, machine learning, and analytics.
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The Data Observability Platform from Monte Carlo is compatible with on-premise and cloud services, such as Snowflake, Google Cloud BigQuery, and Amazon Redshift.
In the previous 20 months, Monte Carlo’s personnel has increased by six to 120, and since the Series C announcement in August 2021, the company has more than quadrupled its quarterly income and retained all of its customers in 2021.
Monte Carlo has also gained new clients in the past six months, including JetBlue, Affirm, CNN, MasterClass, Auth0, and SoFi.
has made product features to help data teams make more reliable data. the company
Moses stated, “Companies across sectors have become more optimistic than ever about data in recent years, investing in technologies like Snowflake and Databricks and recruiting teams of engineers and analysts to create and grow data solutions that deliver business effect.
“However, having data is not sufficient; it must also be discoverable, accessible, and trustworthy. Monte Carlo developed the world’s best data observability platform to expedite the adoption of dependable data and reduce the time required to detect and resolve data outages. Our client traction and roster of fantastic partners such as Snowflake, Databricks, and dbt Labs demonstrate the continuous development and maturing of the data observability market, as well as the industry’s confidence in Monte Carlo’s methodology.”
Through its fully automated, SOC-2 Type II-certified Data Observability platform, Monte Carlo overcomes the costly problem of broken data. This platform ensures correct and dependable data.