$14m for Data Firm Secoda

Toronto, Canada-based Secoda has announced a $14m Series A funding round, for continued development of its generative AI solutions allowing non-specialists to search, analyse and make use of company data.

Secoda's AI Assistant brings ChatGPT functionality to client companies' data and metadata, allowing data teams to dramatically reduce mundane tasks by 'writing intelligent documentation in seconds', answering user questions, and automatically recognizing and tagging personal identifiable information.

The round, adding to a total of $2m raised previously, was led by Craft Ventures, who led the company's seed round in 2021. Also participating in the round were Abstract Ventures, existing investors YCombinator and Garage Capital, and a number of individuals.

The firm says it continues to add integrations with major platforms, and that its customer base has grown fivefold in the last twelve months.

Co-founder and CEO Etai Mizrahi comments: 'Secoda is leveraging AI to help data teams manage complex data stacks while saving a substantial amount of time and resources. Our customers have been able to automate up to 40% of their most common data requests, cut down onboarding time for analysts by 50%, and reduce time spent on documentation by 90%. We plan on continuing to expand the functionality of Secoda AI and supercharge the efficiency of data teams'.

The company is online at www.secoda.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.