Coalesce.io: Revolutionizing Data Transformation with $50 Million Funding
April 5, 2024, 3:31 pm
Coalesce.io, a data transformation company, has secured $50 million in Series B funding to propel its growth and innovation. Industry Ventures and Emergence Capital spearheaded the funding round, joined by prominent investors like 11.2 Capital, Bob Muglia, DNX Ventures, GreatPoint Ventures, Hyperlink Ventures, Next Legacy Partners, Snowflake Ventures, and Telstra Ventures, bringing the total funding to $81 million.
Since its launch in 2022, Coalesce has disrupted the data transformation landscape within the ELT workflow on the Snowflake Data Cloud. By focusing on the critical data transformation phase of cleansing, modeling, and documenting raw data, Coalesce ensures that high-quality data is primed for business intelligence and advanced analytics applications. This unique approach accelerates data pipeline development and enhances data collaboration for data teams.
In the fiscal year ending in January 2024, Coalesce experienced over 4x growth in annual recurring revenue (ARR) year over year, receiving accolades from the industry. This growth underscores the strong market demand and trust in Coalesce's data transformation solutions, as evidenced by adoption from major enterprises such as Caesars Entertainment Group, CKE Restaurants, Denny’s, Houlihan Lokey, and TotalEnergies.
Looking ahead, Coalesce will focus on three key areas:
1.) Improving customer satisfaction through enhanced software scalability and performance.
2.) Introducing AI-driven features and new capabilities tailored for a broader audience.
3.) Increasing market awareness to ensure that every Snowflake customer seeking efficiency and scalability is aware of Coalesce's offerings.
Key industry voices have praised Coalesce's success and innovation. Fanni Fan, Principal at Industry Ventures, highlighted Coalesce's consistent outperformance and vital role in customers' data stacks. Saad Siddiqui, General Partner at Telstra Ventures, noted Coalesce's leadership in transitioning from labor-intensive data engineering to automated, enterprise-grade solutions.
Armon Petrossian, CEO and Co-founder of Coalesce, emphasized the company's explosive growth and innovative product that enhances data team efficiency. Harsha Kapre, Director at Snowflake Ventures, commended Coalesce's ability to complement Snowflake's performance and scalability, unlocking the true potential of data for customers without engineering complexities.
Coalesce's $50 million funding injection marks a significant milestone in its journey to revolutionize data transformation and empower data teams with cutting-edge solutions. As the company continues to innovate and expand its reach, the future looks promising for Coalesce and its mission to redefine data transformation in the digital age.
Since its launch in 2022, Coalesce has disrupted the data transformation landscape within the ELT workflow on the Snowflake Data Cloud. By focusing on the critical data transformation phase of cleansing, modeling, and documenting raw data, Coalesce ensures that high-quality data is primed for business intelligence and advanced analytics applications. This unique approach accelerates data pipeline development and enhances data collaboration for data teams.
In the fiscal year ending in January 2024, Coalesce experienced over 4x growth in annual recurring revenue (ARR) year over year, receiving accolades from the industry. This growth underscores the strong market demand and trust in Coalesce's data transformation solutions, as evidenced by adoption from major enterprises such as Caesars Entertainment Group, CKE Restaurants, Denny’s, Houlihan Lokey, and TotalEnergies.
Looking ahead, Coalesce will focus on three key areas:
1.) Improving customer satisfaction through enhanced software scalability and performance.
2.) Introducing AI-driven features and new capabilities tailored for a broader audience.
3.) Increasing market awareness to ensure that every Snowflake customer seeking efficiency and scalability is aware of Coalesce's offerings.
Key industry voices have praised Coalesce's success and innovation. Fanni Fan, Principal at Industry Ventures, highlighted Coalesce's consistent outperformance and vital role in customers' data stacks. Saad Siddiqui, General Partner at Telstra Ventures, noted Coalesce's leadership in transitioning from labor-intensive data engineering to automated, enterprise-grade solutions.
Armon Petrossian, CEO and Co-founder of Coalesce, emphasized the company's explosive growth and innovative product that enhances data team efficiency. Harsha Kapre, Director at Snowflake Ventures, commended Coalesce's ability to complement Snowflake's performance and scalability, unlocking the true potential of data for customers without engineering complexities.
Coalesce's $50 million funding injection marks a significant milestone in its journey to revolutionize data transformation and empower data teams with cutting-edge solutions. As the company continues to innovate and expand its reach, the future looks promising for Coalesce and its mission to redefine data transformation in the digital age.