Coalesce Closes $50 Million Series B

<p><b>SAN FRANCISCO <&sol;b>– <a href&equals;"https&colon;&sol;&sol;coalesce&period;io&sol;">Coalesce&period;io<&sol;a>&comma; a data transformation company&comma; announced that it has closed &dollar;50 million in Series B funding to drive growth and platform innovation&period; <a href&equals;"https&colon;&sol;&sol;www&period;industryventures&period;com&sol;">Industry Ventures<&sol;a> and <a href&equals;"https&colon;&sol;&sol;www&period;emcap&period;com&sol;">Emergence Capital<&sol;a> led the round with participation from <a href&equals;"https&colon;&sol;&sol;www&period;112capital&period;com&sol;">11&period;2 Capital<&sol;a>&comma; <a href&equals;"https&colon;&sol;&sol;www&period;linkedin&period;com&sol;in&sol;bob-muglia&sol;">Bob Muglia<&sol;a>&comma; <a href&equals;"https&colon;&sol;&sol;www&period;dnx&period;vc&sol;">DNX Ventures<&sol;a>&comma; <a href&equals;"https&colon;&sol;&sol;www&period;gpv&period;com&sol;">GreatPoint Ventures<&sol;a>&comma; <a href&equals;"https&colon;&sol;&sol;www&period;hyperlinkventures&period;com&sol;">Hyperlink Ventures<&sol;a>&comma; <a href&equals;"https&colon;&sol;&sol;www&period;nextlegacy&period;com&sol;">Next Legacy Partners<&sol;a>&comma; <a href&equals;"https&colon;&sol;&sol;www&period;snowflake&period;com&sol;en&sol;data-cloud&sol;snowflake-ventures&sol;">Snowflake Ventures<&sol;a>&comma; and <a href&equals;"https&colon;&sol;&sol;telstraventures&period;com&sol;">Telstra Ventures<&sol;a>&comma; bringing the company’s total funding to &dollar;81 million&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;We’ve had a front-row seat to Coalesce’s success&comma; seeing them consistently outperform targets&comma;” said Fanni Fan&comma; Principal at Industry Ventures&period; &OpenCurlyDoubleQuote;Their customers regularly cite them as the most vital part of their data stack&comma; and their mature partner ecosystem is impressive for their stage&period; Encouraged by this&comma; we confidently led their Series B investment&period;”<&sol;p>&NewLine;<p>Since publicly launching in 2022&comma; Coalesce has revolutionized data transformation within the ELT &lpar;Extract&comma; Load&comma; Transform&rpar; workflow on the <a href&equals;"https&colon;&sol;&sol;www&period;snowflake&period;com&sol;">Snowflake Data Cloud<&sol;a>&period; By focusing on the crucial data transformation phase — the process of making raw data ready to use by cleansing&comma; modeling&comma; and documenting it — Coalesce ensures that quality data is primed for business intelligence and advanced analytics use cases&period; Its unique approach to data transformation helps data teams accelerate data pipeline development and improve data collaboration&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;The industry is moving from labor-intensive data engineering to automated&comma; enterprise-grade solutions&comma;” observed Saad Siddiqui&comma; General Partner at Telstra Ventures&period; &OpenCurlyDoubleQuote;Coalesce leads this shift&comma; offering comprehensive extensibility for complex ETL&sol;ELT scenarios and an easy-to-use interface for a wider&comma; less technical audience&period;”<&sol;p>&NewLine;<p><b>Rapid Growth Driven By Enterprise Adoption and Product Innovation<br &sol;>&NewLine;<&sol;b>For its fiscal year ending in January 2024&comma; Coalesce reported over 4x growth in annual recurring revenue &lpar;ARR&rpar; year-over-year and received several <a href&equals;"https&colon;&sol;&sol;coalesce&period;io&sol;about&sol;newsroom&sol;">industry accolades<&sol;a>&period; This growth underscores the strong market demand and confidence in Coalesce’s data transformation solutions&comma; evidenced by adoption from major enterprises such as Caesars Entertainment Group&comma; CKE Restaurants&comma; Denny’s&comma; Houlihan Lokey&comma; and TotalEnergies&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;During a challenging VC market period&comma; we’ve successfully raised capital by demonstrating explosive growth and an innovative product that significantly enhances the efficiency of data teams&comma;” said Armon Petrossian&comma; CEO and Co-founder of Coalesce&period; &OpenCurlyDoubleQuote;This achievement is a testament to our incredible team and valued customers&comma; who are the pillars of our rising leadership in the industry&period;”<&sol;p>&NewLine;<p><b>The Road Ahead<br &sol;>&NewLine;<&sol;b>Post-Series B&comma; Coalesce will concentrate on three areas&colon;<&sol;p>&NewLine;<ol>&NewLine;<li aria-level&equals;"1">Enhancing customer satisfaction through improved software scalability and performance&period;<&sol;li>&NewLine;<li aria-level&equals;"1">Introducing AI-driven features plus new capabilities designed for broader audiences&period;<&sol;li>&NewLine;<li aria-level&equals;"1">Boosting market awareness to ensure that every Snowflake customer seeking efficiency and scale knows about Coalesce&period;<&sol;li>&NewLine;<&sol;ol>&NewLine;<p>&OpenCurlyDoubleQuote;Snowflake Ventures invests in our ecosystem partners to accelerate innovation&comma;” said Harsha Kapre&comma; Director&comma; Snowflake Ventures&period; &OpenCurlyDoubleQuote;Coalesce is designed to complement the performance and scalability of Snowflake and is well positioned to harness the power of the Data Cloud&period; We see our customers embracing their intuitive interface to develop data pipelines efficiently&comma; unlocking the true potential of their data without the usual engineering headaches&period;”<&sol;p>&NewLine;