Major Funding for No-Code Data Platform Y42

Y42, a Berlin-based company promising 'the first scalable data platform that anyone can run', has announced a $31m Series A round of funding which it says will allow it to continue accelerating platform development, adding customers and building its team.

The round adds to $2.9m raised earlier in the year and was co-led by Atomico and Insight Partners, with participation from La Famiglia and Data Community Fund.

Previously known as Datos-Intelligence, Y42 aims to remove the need for companies to buy in separate tools for data orchestration, ingestion, analysis, sharing and visualisation by providing all of these in a single platform. 'Y42's platform can turn any company into a data business, and any person into a data analyst' says CEO and founder Hung Dang. 'While the core data flow challenges of the modern data stack - moving, manipulating and visualizing data - are being solved, we can already see the next wave of innovation will happen around metadata, with things like cataloguing, lineage, orchestration, quality checks, audits, and access control. As an end-to-end solution, we have a clear advantage for this next generation of products'.

Atomico Partner Irina Haivas, who will join the Y42 board, comments: 'Every business leader today knows they need to extract more value from their data, but the data talent to adopt and maintain a modern stack is scarce; demand for data engineers is growing 50% annually. Y42 unlocks this bottleneck, and democratises access to data tools beyond a select few'.

Web site: www.y42.com .

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