Secoda raises $14M in Series A funding round, propelling centralized, accessible data
Secoda, the AI-powered data search, cataloging, lineage, and documentation platform, is announcing the achievement of a recent funding milestone, having raised $14 million in a Series A funding round. The round was led by Craft Ventures with participation from Abstract Ventures, YCombinator, Garage Capital, and leaders in the data space including Jordan Tigani (CEO of MotherDuck), Scott Breitenother (CEO of Brooklyn Data Co.), and Tristan Handy (CEO of dbt).
With the ongoing explosion of the quantity of data, and in turn, tools and applications, enterprises are plagued with unreliable, feeble data ecosystems which lose knowledge as frequently as it gains it.
Secoda works to centralize enterprise data estates, enabling organizations to take control of their data sprawl while reliably scaling and managing their infrastructures, according to the company.
With its latest investment, Secoda will continue to innovate in this space, particularly within the prospect of generative AI (genAI). The funding—which now stands at $16 million—will help fuel the development of genAI solutions that allow employees to easily search, understand, and use company data, regardless of their technical skill level.
“We raised a Series A so we can turbocharge our growth and move at the pace of generative AI,” said Etai Mizrahi, CEO of Secoda. “Secoda’s ultimate goal is to give any team member the ability to ask anything about company data, and for Secoda to answer. Generative AI has shrunk the timeline of that goal down immensely—as in, we’ve already built AI-powered search tools that today can do what we originally thought would take a much longer time to build.”
Furthermore, the funding will enable Secoda to expand its ecosystem of integrations—which already includes Snowflake, dbt, and Looker—as well as strengthening engineering efforts and fueling R&D.
One such example of Secoda’s AI solutions, the Secoda AI Assistant, combines ChatGPT technology with an organization’s proprietary data and metadata.
Secoda’s assistant works to limit the amount of mundane work, allowing employees to quickly generate intelligent documentation and get answers to their data questions. The assistant is also automated to recognize and tag any personally identifiable information (PII).
“Based on conversations with customers, our AI solution is more accurate and faster at answering questions related to an organization's metadata compared to other tools,” said Mizrahi. “This is because we've put significant effort into our semantic layer between the metadata and Open AI for retrieval of relevant information.”
Secoda is also focused on developing a flexible, friendly, and exciting work culture, which is now seeking additional team members. Open roles can be found here.
To learn more about Secoda, please visit https://www.secoda.co/.