Portfolio company Astronomer, a data engineering engineering platform that collects and prepares data for analytics and data science, has closed $3.5M in new financing. Wireframe Ventures in San Francisco and CincyTech led the round with participation from Frontline Ventures (UK), Grand Ventures, Drummond Road, Core Network, M25 Group, and debt financing from Silicon Valley Bank.
The financing comes at a time when data analytics has become a critical ingredient for success for businesses of all size.
“Astronomer is in a big market helping customers gather, integrate and exploit growing amounts of data,” CincyTech President Mike Venerable said. “The problem is getting bigger and more complex, so customer expectations continue to grow. This round of capital allows Astronomer to keep advancing their product and pursue more customers. It is also great to have new investors in the ecosystem supporting the company’s growth.”
Astronomer’s data engineering platform automates the collection of data from any source, like Salesforce or Google Analytics, to any destination, like Redshift or MySQL, in an enterprise. The result is dramatically less time wasted on data preparation and routing and spent, instead, on extracting valuable business insight from their data and realizing untapped revenue potential.
“If organizations implement a focused, iterative data engineering effort, they’d free up their people to extract insights that impact the bottom line,” said Ry Walker, Co-founder and CEO of Astronomer.
“Despite major advancements in big data technology platforms over the last decade, data engineering continues to be a manual and highly labor-intensive barrier to wider adoption. Astronomer’s platform can greatly streamline this complex upfront work, enabling a much wider set of enterprises to fully leverage the power of data science to help drive business performance,” said Harsh Patel, Managing Partner of Wireframe Ventures.
Astronomer plans to use this financing to grow its product and engineering teams and expand sales efforts. Astronomer customers include P&G, Everything But The House (EBTH) and Roadtrippers, along with many other enterprise, mid-market and startup organizations.