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35m Series Forestay Capitalsawersventurebeat

Manta, the date-lineage service, has raised $35M in Series B led by Forestay Capital. The new capital will help the Company continue to grow. The company also plans to continue bringing on new investors. To date, the company has raised more than $110M in funding.

Manta raises $35M in Series B led by Forestay Capital

Manta is a software company that helps enterprises visualize and trace the flow of information across an enterprise. It is backed by Forestay Capital and has raised $35 million in Series B financing. The company’s product, data lineage, can help enterprises make a clear understanding of the flow of information from its origin to its consumption.

Manta’s software platform is based on machine learning and artificial intelligence. The company uses AI to help its customers improve their business performance by leveraging massive amounts of training data. With its platform, users can map changes in data sources and pipelines and derive insights in real time. The platform also includes an impact analysis tool that can help users determine the impact of upcoming changes.

Data management has undergone a transformation over the last decade, transforming from an infrastructure into a data ecosystem that can help companies make critical business decisions. Manta’s software sits in the middle of an organization’s tech stack and automatically scans and maps the data pipelines and transformations. This enables organizations to improve data quality, reduce risk and comply with data privacy laws.

The company’s platform also provides a line of sight into data environments. Users can view data analyses in native dashboards and send data to third-party software and governance systems via API. Manta’s automated data lineage platform can be used by enterprises and mid-sized businesses to improve their productivity, gain trust in data, and accelerate their digital transformation.

Company offers date lineage service

Data lineage is a vital service for companies that are making the transition from on-premises servers to hybrid or cloud infrastructure. It allows users to validate a migration plan and uncover dependencies. It can also help identify errors in data management processes and retrace the steps to determine the root cause. The Company competes with long-established incumbents like Informatica and Collibra, which recently went public and have attracted a high valuation.

Stack

“Data management has undergone a massive transformation in the past decade, with data infrastructure growing in complexity, evolving into data ecosystems with thousands of components aimed at one goal — derive the most value from your data to inform critical business decisions,” Manta founder and CEO Tomas Kratky told VentureBeat.

Manta sits in the middle of every application in an organization’s tech stack, automatically scanning and mapping all data pipelines and data transformations — this will include data sources such as SaaS apps, data warehouses, data integration tools (i.e., ETL and ELT), APIs, Excel documents, databases and more.

“Data is the lifeblood of every organization and is the most critical asset for enterprises today,” Kratky continued. “Over the last decade, the complexity of the data stack has exploded, and most organizations struggle with several critical side effects of this complexity, including a high number of material incidents, significant risk exposure, slow change management and a significant amount of data engineering resources continuously wasted on routine, manual tasks.”

Manta, meanwhile, had raised around $17 million since its inception in 2015, and with another $35 million in the bank, the company is well-financed to double down on its recent growth, which has seen it open new offices in Portugal and Ireland, and expand its headcount to more than 150.

“The funding enables us to continue our strong momentum by expanding our global presence and product development to help customers overcome blind spots in their increasingly complex data pipelines,” Kratky said.

Manta’s series B round was led by Forestay Capital, with participation from Bessemer Venture Partners, SAP’s venture fund SAP.io, Senovo, Credo Ventures, the European Bank for Reconstruction and Development, and Dan Fougere.

But over and above all that, date lineage helps businesses uncover mistakes in their data management processes, and retrace their steps to get to the root of the problem.

“Data lineage can no longer be an afterthought — it’s a critical component of data management,” Kratky said. “With our level of dependency on data, businesses cannot afford incidents to happen. The complexity of data infrastructure — mixed with a lack of visibility — is an organization’s biggest enemy. Data pipelines have a tendency to break for a myriad of reasons, so one simple mistake can be extremely damaging and costly to a business.”

“Data management has undergone a massive transformation in the past decade, with data infrastructure growing in complexity, evolving into data ecosystems with thousands of components aimed at one goal — derive the most value from your data to inform critical business decisions,” Manta founder and CEO Tomas Kratky told VentureBeat.

Manta sits in the middle of every application in an organization’s tech stack, automatically scanning and mapping all data pipelines and data transformations — this will include data sources such as SaaS apps, data warehouses, data integration tools (i.e., ETL and ELT), APIs, Excel documents, databases and more.

“Data is the lifeblood of every organization and is the most critical asset for enterprises today,” Kratky continued. “Over the last decade, the complexity of the data stack has exploded, and most organizations struggle with several critical side effects of this complexity, including a high number of material incidents, significant risk exposure, slow change management and a significant amount of data engineering resources continuously wasted on routine, manual tasks.”

Well, one use case lies in data governance, which is concerned with ensuring that a company is compliant with all the relevant laws of the land by seeing exactly what data they’re processing, and where. This is particularly important with GDPR in Europe and  myriad others data privacy regulations coming into force around the globe.

Moreover, with countless companies transitioning from on-premises to cloud and hydrid infranstacture, data lineage is essential as it helps them validate their migration plan, see all the dependencies and ensure nothing is left behind in the switch.

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