Databand snags $14.5m Series A

Databand, an observability platform for data engineers, has raised $14.5 million in Series A funding.

Databand, an observability platform for data engineers, has raised $14.5 million in Series A funding. Accel led the round with participation from Blumberg Capital, Lerer Hippeau, Ubiquity Ventures, Differential Ventures, F2 Venture Capital and Bessemer Venture Partners.

PRESS RELEASE

New York and Tel Aviv, Tuesday 1st December 2020: Databand (www.databand.ai), an observability platform that enables data engineers to monitor the health of their pipelines, has raised a $14.5 million Series A round, led by Accel with participation from Blumberg Capital, Lerer Hippeau, Ubiquity Ventures, Differential Ventures, F2 Venture Capital, and Bessemer Venture Partners. The funding will be used to expand the team and bolster product development, including Databand’s open source library for data pipeline tracking and optimization.

In the modern enterprise, everyone is a data consumer. But to the frustration of many, it’s hard to maintain the reliability of data systems. The push to make data more accessible has drastically expanded its productization, from operational reports to machine learning. A flood of new tools have come online to support these use cases, leading to significant fragmentation in the tech stack. As a result, data pipelines have become fragile and prone to failure, and corruptions in underlying data often go unnoticed. At best, data is delivered late. At worst, bad decisions are made on incorrect information without people ever knowing.

Data engineers are responsible for making sure that pipelines are stable and data is delivered on time. Companies can’t hire this role fast enough (it’s now the most in-demand role in tech according to the 2020 Dice report), and data engineers on staff don’t have the tools they need to get the job done.

Databand was founded in 2019 with the firm belief that the quality of every company’s decisions will become a function of how well it supports its data engineers. With deep experience leading data product development at enterprises and hyper growth startups, co-founders Josh Benamram, Victor Shafran and Evgeny Shulman have developed a unified data pipeline observability solution that’s purpose-built for data engineers.

Databand’s platform works by ingesting pipeline metadata, including logs, runtime info, and data profiles. It synthesizes this information from multiple tools, such as Airflow, Spark, and Snowflake, into one platform to help users understand bottlenecks, errors, and anomalies in real-time. When a problem is detected, Databand can drill in across layers of tools and point users to the root cause.

As part of its platform, Databand offers an open source library with a range of utilities for data engineers. The library makes it easy to track pipeline metadata and simplifies the management of dynamic, multi-cloud data workflows.

Databand has gained traction quickly, and is currently used by a range of data teams, from Fortune 500s to early stage startups. The new funds will be used to make key hires across Databand’s offices in New York, Tel Aviv, and Kiev, including engineers, product managers, and client-facing team members.

Josh Benamram, CEO and Co-founder of Databand, said: “Data engineers face a unique set of challenges in managing production systems. With data products, like analytical dashboards or machine learning, it’s hard to know whether you are looking at true information. When data is smaller and consumers are closer to the source, your intuition can help, but with the size and scope of data today, it’s impossible. We know what it’s like to get woken up at 2:00am because a data product is failing. At the end of the day, with Databand we want our users to sleep easier knowing our platform is there to help.”

Seth Pierrepont, Partner at Accel, said: “Data pipeline observability is a challenge that our internal data team at Accel was struggling with. Even at our relatively small scale, we were having issues with the reliability of our data outputs on a weekly basis, and our team found Databand as a solution.

“As companies in all industries seek to become more data driven, Databand delivers an essential product that ensures the reliable delivery of high quality data for businesses. Josh, Victor and Evgeny have a wealth of experience in this area, and we’ve been impressed with their thoughtful and open approach to helping data engineers better manage their data pipelines with Databand.”

Bruce Taragin, managing director at Blumberg Capital, who led Databand’s seed round said: “As data disrupts the world, the need for better DataOps and MLOps is increasingly vital. We are thrilled to continue our support for Databand and their goal of bringing observability to the modern data stack.”

About Databand
Databand is an observability solution purpose-built for data engineering. By ingesting pipeline metadata, including application logs, job durations, and data quality metrics, Databand helps data engineers to understand bottlenecks or anomalies in their data processes, and act on them. For more information, visit www.databand.ai.

About Accel
Accel is a global venture capital firm that is the first partner to exceptional teams everywhere, from inception through all phases of private company growth. Arista, Atlassian, Braintree, Celonis, CrowdStrike, Deliveroo, DJI, Dropbox, Etsy, Facebook, Flipkart, Freshworks, Jet, Kayak, Lynda.com, Qualtrics, Rovio, Slack, Spotify, Supercell, Swiggy, Tenable, UiPath, and Venmo are among the companies the firm has backed over the past 35+ years. We help ambitious entrepreneurs build iconic global businesses. For more, visit www.accel.com or www.twitter.com/accel.

About Blumberg Capital
Blumberg Capital is an early-stage venture capital firm that partners with passionate entrepreneurs to innovate and build successful technology companies. The firm specializes in leading Seed and Series A rounds collaborating with angel investors, other venture capital firms and strategic partners. The Blumberg Capital team are active investors and board members – operating as an extension of the entrepreneurs’ network. Blumberg Capital is headquartered in San Francisco with team members in Tel Aviv and New York. For more information, please visit blumbergcapital.com.