Company allows data practitioners to work with data without worrying about underlying data infrastructure; Announces $10 Million in Series A financing
Datacoral unveiled a private and secure end-to-end data infrastructure service for data-driven companies. Datacoral abstracts the complexities and pain points of building data products, by bringing data sources together, then organizing and processing them to extract insights that can be directly applied to operations, product development and marketing solutions. The company also announced Series A financing of $10 Million led by Madrona Venture Group with participation from Social Capital, which initially led Datacoral’s seed round of $4 Million in 2017.
“As companies look to their data to deliver value – data practitioners are finding that configuring and managing their own data infrastructure is a time consuming job that is expensive and fraught with errors,” said founder and CEO, Raghu Murthy. “We have built a platform that easily and automatically brings together data from different applications and databases, organizes that data in any query engine and acts on insights that are critical to running their business. A crucial component is that it works securely and privately within the customer’s cloud, instead of us ingesting data from their systems.”
Datacoral is a secure end-to-end data infrastructure as a service that reduces the complexity of data engineering, enabling data scientists and business operators to quickly generate insights on a scalable platform. The service works seamlessly with public cloud providers to dramatically simplify the common yet tedious elements of building data products. With Datacoral, companies benefit from:
- A single, high-level interface: see how your data is flowing, no matter which query engine you use, with a simplified, central view. The interface alerts you to data dependency and schema changes that cannot be automatically handled.
- Functional building blocks: collect, organize and harness the power of data using our collection of building blocks, which are customizable to your needs and work with the technologies you already have in place. The flexible architecture is designed to work with you today and then grow with you over time.
- Fully-managed data flow: access guaranteed data delivery to get full visibility into how data is flowing, data freshness and data integrity. Datacoral manages the stack for you, instead of your data practitioners having to manually audit for this.
- Security built-in: meet the highest security standards by ensuring your data never leaves your stack. Datacoral works within your public cloud account and is encrypted, so you have full control.
Founded by Raghu Murthy, who was an early engineer in the Facebook team in charge of scaling that company’s data infrastructure, Datacoral was developed while Murthy was an EIR at Social Capital. The company stems from his extensive experience building and maintaining data infrastructure at internet scale companies like Facebook and Yahoo, where he learned the pain points and time sucks that could be automated to free up teams to focus on the semantics and shape of the data, rather than the pipes. Datacoral has expanded quickly with customers seeing immediate results in time and investment savings as they leverage the building blocks of the Datacoral platform.
“Every company today wants to be data driven and the first step is a scalable data infrastructure. But, data infrastructure is time intensive and costly to build, maintain, and secure. Additionally, as cloud born companies look to data, it is particularly difficult to create an end to end system in the cloud,” said Sudip Chakrabarti, Madrona Venture Group. “Raghu and his team are uniquely suited to build such a system and have already seen incredible success. We are very excited to work with the team.”
“As someone who’s built products all my life, I can’t stress how important analytics and real time insights are to succeeding with customers,” said Jay Zaveri, Partner at Social Capital. “Datacoral makes a hair pulling exercise around collecting, organizing and utilizing clean, secure and quality data from all kinds of systems really easy. At Social Capital, we know because we use them, to collect all our data to get better insight all from our own cloud. We now can’t work without them.”
Datacoral is a partner of major cloud providers and offers a secure data infrastructure service completely within the customer’s cloud account to alleviate security and compliance risks. Initial Datacoral customers include Greenhouse, Front, Ezetap, Swing Education, mPharma, and Fin among others. Datacoral will use the new funding to accelerate product development and invest in sales and marketing to meet growing market demand.
“As we grew, we wanted a deeper understanding of our customers, so our data scientists started working directly in our databases with homespun ETLs. We looked at several solutions to help offload a lot of this, but our data is very sensitive, and we did not want to lose control of it by sending it to a vendor’s data center. We even considered building the infrastructure ourselves,” said Aaron Gibralter, Director of Engineering, Greenhouse. “With Datacoral, we have a data infrastructure stack that integrates with all our systems, has fully-managed data flow and delivery, and works securely within our own cloud. Our data scientists now focus more on supporting our customer success team, and have expanded their impact to sales, finance, and marketing. Datacoral’s building blocks provide flexibility for growth over time without much effort, while our data scientists stay focused on other strategic value.”