Manta, a unified data lineage platform provider, has raised $13 million in funding. Bessemer Venture Partners led the round with participation from SAP.iO Fund, Senovo and Credo Ventures.
New York, October 6, 2020 – MANTA, a unified data lineage platform provider, has announced the close of a $13 million funding round led by Bessemer Venture Partners, accompanied by SAP.iO Fund, German VC fund Senovo, and Czech VC fund Credo Ventures.
MANTA’s platform pioneers the data management market, providing users with a fully automated lineage solution that helps them understand journeys and dependencies between data assets across the company’s entire system. Thanks to automation, the platform augments an organization’s data management and gives its users immediate and in-depth visibility into the state of their environment by drawing a clear, yet detailed map of all of their data flows and connections. This enables users to assign context to the assets that they are working with, accelerate development, speed up modernization processes, ensure data quality and security, and boosts governance efforts. The detailed and accurate visual presentation of the sources that data comes from, where it is flowing in the environment, and what happens to it along the way is being generated by connecting to the technology sources, downloading the programming code from there, and analyzing it in an automated way.
“An organization’s data is one of its most valuable resources. It’s also the resource that is too often being hurt by poor data management processes, that are unnecessarily costly and prolonged,”said Alex Ferrara, partner at Bessemer Venture Partners. “I believe that MANTA is a fail-safe solution to these problems, not only does automation accelerate and enhance data management but also allows end users to finally understand the history and the current state of their data, which is a starting point for any successful project that requires accurate and updated data. Augmenting data management with their platform will be a turning point for any company that aspires to be a truly data-driven organization.”
Following the path of automation allows organizations to increase the value of data management by turning their metadata from passive information into an active driver. It helps them save money, time, and resources by improving overall productivity of data teams by 30-40%, performing 95% faster and more accurate impact and root cause analyses, drastically simplifying system migrations, and also enhancing data quality, data privacy, and data governance initiatives.
“Manual approach to repetitive tasks has always been one of the key pain points of data management. Organizations in every corner of the world are struggling with this problem and so did I before MANTA came to life,” said Tomas Kratky, Founder and CEO of MANTA. “Lineage is the missing piece of the data management puzzle with the power to dramatically improve its level of automation. The substantial type of representation of metadata and dependencies (often hidden) between organizations’ data assets, allows users to truly understand and programmatically control their environment. MANTA’s automated, robust, self-service lineage platform delivers actionable intelligence and, with its API-first approach, truly enables digital transformation.”
The funding round led by Bessemer Venture Partners included participation from the SAP.iO Fund and existing investors including Credo Ventures and Senovo.
“It has become an imperative for SAP customers to understand both the journey and transformation of data in their organizations in business-critical areas including regulatory reporting, system improvement, upgrades, and stability,” said Ram Jambunathan, SAP managing director of SAP.iO. “Data and metadata lineage are an important component to acquire this understanding. We are excited about MANTA’s potential to help customers better understand their data flows.”
“This investment round is a testament to the qualities of MANTA’s product and the impact the company has had on the (meta)data management vertical already,” said Ales Duchac, associate at Credo Ventures. “We are convinced Tomas and his team have both the necessary skills and passion to fulfill their vision of redefining the industry’s data management standards.”
“Automated data lineage is rapidly evolving from nice to have to core infrastructure requirement for data driven companies. MANTA is leading this new market and we are thrilled for what the future has in store for us,” said Markus Grundmann, partner at Senovo.
MANTA is the core of all data flows in the organization and with its lineage capabilities, it enables digital transformation. The self-service platform demonstrates the data journey in a way that is clear and easily understandable to those at all levels of the organization. MANTA lineage delivers actionable intelligence to accelerate development, shorten time to market, speed up the modernization process, boost governance efforts, ensure data quality, and enforce data security. Learn more at getmanta.com.
About Bessemer Venture Partners
Bessemer Venture Partners is the world’s most experienced early-stage venture capital firm. With a portfolio of more than 200 companies, Bessemer helps visionary entrepreneurs lay strong foundations to create companies that matter and supports them through every stage of their growth. The firm has backed more than 120 IPOs, including Pinterest, Shopify, Yelp, LinkedIn, Skype, LifeLock, Twilio, PagerDuty, SendGrid, DocuSign, Wix, and MindBody. Bessemer’s 16 investing partners operate from offices in Silicon Valley, San Francisco, New York City, Boston, Israel, and India. Follow @BessemerVP and learn more at bvp.com.
About SAP.iO Fund
The SAP.iO Fund invests in breakthrough, pathfinding early-stage (Seed to Series A) enterprise software startups who are first to capitalize on emerging trends with potential to unlock significant value for SAP and its customers.
About Credo Ventures
Credo Ventures is a Prague-based venture capital firm that partners with outstanding technology founders from Central Europe to realize their global ambitions. Credo has been investing in Seed and Series A stages since 2010, focusing primarily on B2B enterprise software companies.
Credo manages € 170 million across 3 funds and has invested in more than 55 startups to date. Its notable investments include UiPath, productboard, PriceFx, Apiary or Cognitive Security.
Senovo is an early-stage venture capital firm based in Munich and Berlin that partners with exceptional founders building global B2B SaaS category-leaders from Europe.
As European first-mover, the fund invests since 2013 into a new generation of B2B software startups which enable the digitalization of medium and large enterprises. Their focus is primarily on supporting teams working in the areas of process optimization, industry 4.0 and data-enabled solutions.
Senovo joins the journey after a company has first revenues in a late Seed or Series A round. Their team of SaaS specialists seek meaningful eye-level relationships and regularly publish their learnings and thought leadership at www.medium.com/senovovc.