Tyler Gibson
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Toronto-based Secoda, an AI-powered platform for data search, cataloging, lineage and documentation, today announced $14 million in a Series A round of funding. The company plans to use the capital to further develop its AI solutions and allow any enterprise user, regardless of their technical background, to search, understand and use company data — in an experience as easy as searching on Google.
The investment takes Secoda’s total fund-raise to $16 million and has been led by existing investor Craft Ventures, with participation from Abstract Ventures, YCombinator and Garage Capital. Notable data ecosystem leaders Jordan Tigani (CEO of MotherDuck), Scott Breitenother (CEO of Brooklyn Data) and Tristan Handy (CEO of dbt) also joined the round.
“It has become increasingly important that companies not only have a full understanding of the lineage of their data from disparate sources but also harness their data to make more efficient and informed decisions. Secoda has built a powerful AI-powered data copilot for companies to do just that,” Jeff Fluhr, co-founder and partner at Craft Ventures, said in a statement.
Solving the data problem
Today, the enterprise IT stack is a web of dozens of systems designed for different tasks. The arrangement is critical for the effective functioning of the organization, but it also leads to a disjointed data puzzle, where applications don’t communicate with each and data remains siloed.
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