The firm Monte Carlo Ai 25m Redpoint Capital, which aims to assist other businesses in better monitoring their data intakes, said this morning that it has secured a $25 million Series B round of funding.
Just a few months have passed since its $15 million September Series A, which was co-led by GGV and Redpoint. Accel oversaw the company’s seed and Series A investments and took part in its Series B.
We were interested in the round not just because of how quickly it was raised after Monte Carlo’s earlier investment, but also because your humble servant had no clue what data observability, the startup’s specialty, actually was.
Therefore, we called Barr Moses, co-founder and CEO of Monte Carlo, to ask her questions about the company’s market and how it was able to swiftly raise so much additional money.
Obtaining More Accurate Data for Businesses: Monte Carlo Ai 25m Redpoint Capital in Series B
How we’re establishing a new course for data trust and dependability
It is crucial that this data be trustworthy as data pipelines get more complicated and businesses consume more and more data. After speaking with hundreds of data teams over the past three years, I was surprised to learn that while businesses were pouring millions of dollars and strategic effort into data, decision-makers and other front-line personnel were unable to utilize it or didn’t trust it. There must be a better approach.
In order to speed up the use of data by businesses by eradicating data downtime, we developed Monte Carlo in 2019.
I’m thrilled to report that Monte Carlo Ai 25m Redpoint Capital in Series B investment to lead the developing Data Observability category and assist enterprises in obtaining more trustworthy data, bringing us one step closer to accomplishing this ambition for our clients.
Our total capital as of this announcement, which follows our Series A financing led by Accel in September, exceeds $40 million. Along with Accel, Red point Ventures and GGV Capital, investors in Snowflake, Looker, Hashi Corp, and Slack, co-led this round. DJ Patil, a former chief data scientist for the United States, as well as senior officials from Cloudera, eBay, Google, and VMWare are also supporting Monte Carlo.
Monte Carlo Raises $25 Million For AI That Checks The Accuracy Of The Data
Data dependability startup Monte Carlo, located in San Francisco, revealed today that it has secured $25 million, increasing its total funding to date to over $40 million. In addition to growing the number of its personnel, Monte Carlo claims the funds will enable it to promote its user community and further improve its data and analytics offerings.
AI is used by Monte Carlo to infer and understand the characteristics of a company’s data, proactively identify downtime, evaluate its effects, and alert any relevant staff. The software can provide data dependencies in one location and instantly identify the main reason for unavailability.
It’s significant to note that Monte Carlo observes data while it is in storage rather than extracting it. According to CEO Moses, this is one of the reasons why it is one of the few data observability systems to achieve SOC-2 compliance.
Monte Carlo Ai 25m Redpoint Capital; A Growing Market
The product from Monte Carlo is attractive enough to demand our attention on its own. But, the fact that it integrates seamlessly with the expansion of the broader data area, particularly data tooling that isn’t immediately related to storage, makes it much more worthwhile to take into account.
With an additional $25 million, Monte Carlo can continue to pursue its mid-market and corporate customer targets while growing its 25-person team. See how quickly it can scale and when we can begin pressuring the business for growth figures.