- The firm said that it will use the funds to expand its 152-person workforce to 220 by the end of the year.
- Essentially, Manta helps companies overcome blind spots, providing them with a window into all their data flows.
Manta, a date lineage platform that helps enterprises understand and visualize the flow of information through the organization, announced that it had raised USD35 million in Series B funding. Forestay Capital led the round, and existing investors, including Bessemer Venture Partners, SAP.io, Senovo, Credo Ventures, Dan Fougere, and new investor European Bank for Reconstruction and Development, too participated.
The new funding has come when firms across the industry are struggling under a deluge of data – with endless siloed systems from SaaS applications to data lakes, making it harder to obtain any kind of meaningful insights. For its part, Manta tracks data – right from where it originated through its entire flow to consumption, giving information about the “where,” “how”, and “what” of their data assets.
The firm said that the funds would be used to expand its 152-person workforce to 220 by the end of the year.
The Series B funding round has come close to the firm registering significant global growth of its world-class platform and global expansion with new offices in Lisbon, Portugal and Dublin, Ireland, bringing its footprint to five offices across North America and Europe with 150 employees worldwide. The recent launch of Manta’s Release 36 delivers even deeper visibility into the most complex aspects of data pipelines with the migration to the Neo4j Graph Database.
Data lineage and the modern tech stack
Manta’s automated data lineage platform offers insights into data environments by structuring a powerful map of all data flows, sources, transformations and dependencies to enhance data governance, streamline migration projects, enable observability and accelerate incident resolution.
The firm enjoys an important space, the middle of every application, in an organization’s tech stack, automatically scanning and mapping all data pipelines and data transformations. This includes data sources such as SaaS apps, data warehouses, data integration tools (i.e., ETL and ELT), APIs, Excel documents, databases, etc.
Data management has undergone a sea-change in the last 10 years and has advanced into diverse and interconnected ecosystems. Blind spots, too, have resulted in unreliable insights, slower data delivery, and an increased number of incidents.
Essentially, Manta helps companies overcome blind spots, providing them with a window into all their data flows. But the need for companies to track all this?
One aspect is data governance, which ensures that a company complies with all existing laws, checking exactly what data they’re processing and where. This is particularly essential with GDPR in Europe and myriad other data privacy regulations coming into force around the globe.
Further, with more and more companies making the transition from on-premises to cloud and hybrid infrastructure, data lineage is important. It helps them verify their migration plan, see all the dependencies and ensure nothing is left behind in the switch.
But most importantly, date lineage helps firms unravel errors in the data management processes and retrace their steps to get to the root of the problem.
“Data management has undergone a massive transformation in the past decade, with data infrastructure growing in complexity, evolving into data ecosystems with thousands of components aimed at one goal — derive the most value from your data to inform critical business decisions,” said Manta founder and CEO Tomas Kratky.
“Data is among an organization’s most valuable assets, and Manta’s automated platform is transforming the way data is managed with a clear and comprehensive visualization of all data flows, saving customers time, money and resources,” said Marieke Christmann, Senior Principal at Forestay Capital. “We believe Manta is a truly transformative company, and we are excited to be part of Manta’s journey as it’s on its mission to transform complex data environments.”
“Manta’s automated data lineage platform is the missing piece of the data management puzzle,” said Alex Ferrara, partner at Bessemer Venture Partners. “We are compelled by Manta’s product and vision to provide further visibility into data pipelines. We believe this is a crucible moment for enterprises striving to be truly data-driven organizations.”
“We are excited to welcome both new and existing investors to expand our capabilities as more companies recognize the true value of data lineage and observability,” said Tomas Kratky, MANTA founder and CEO. “The funding enables us to continue our strong momentum by expanding our global presence and product development to help customers overcome blind spots in their increasingly complex data pipelines.”