PALO ALTO — Unravel Data, which runs a data operations platform providing full-stack visibility of applications, has raised $35 million in an oversubscribed Series C funding round. Point72 Ventures, founded by hedge fund investor Steve Cohen, led the round with participation from Harmony Partners, and existing Unravel investors Menlo Ventures, GGV Capital and M12 (formerly Microsoft Ventures).
“Every business is becoming a data business, and companies are relying on their data applications such as machine learning, IoT, and customer analytics, for better business outcomes using technologies such as Spark, Kafka, and NoSQL,” said Kunal Agarwal, CEO, Unravel Data. “We are making sure that these technologies are easy to operate and are high performing so that businesses can depend on them. We partner with our customers through their data journey and help them successfully run data apps on various systems whether on-premises or in the cloud.”
“Most industry-leading companies are now software businesses, and a majority of those businesses are running on top of mission-critical big data applications,” said David Dubick, Partner, Point72 Ventures. “These big data tailwinds have created a demand for tools to monitor, optimize and secure these systems, and Unravel is uniquely positioned to address this need in the marketplace.”
“Since we led the company’s B round, we have been blown away by the market momentum that Unravel has achieved in a short space of time.There is clearly an unmet need in large enterprises for solving the complexity and operational challenges they face as they transition to being data driven and cloud first,” said Glenn Solomon, Managing Partner, GGV Capital. “Current approaches are failing these data ops teams and Unravel has come to market with technology innovation and go-to-market execution that is solving real world problems, today.”