Data reliability solution provider Monte Carlo has announced $60 million in Series C funding, bringing the company’s total earned to more than $100 million since 2019. Monte Carlo will use the funding to bring data reliability solutions to the forefront, as well as develop its product offerings, support additional use cases, and expand to new markets. The news comes on the heels of the company’s Incident IQ release.
Monte Carlo’s data observability platform utilizes best practices and principles of automatic application observability and applies them to data pipelines. This provides data engineers and analysts with visibility across all data pipelines and data products. Monte Carlo also offers machine learning that gives users a holistic view of an organization’s data health and reliability for important business use cases.
Monte Carlo has had a banner year, more than doubling its revenue quarter over quarter with an 800 percent increase year over year. The company has also secured notable brand name customers across a variety of industries. Monte Carlo has partnerships with Snowflake and Looker.
In a media statement on the news, Monte Carlo co-founder and CEO Barr Moses said: “In 2021, it’s simply not enough to use data to drive accurate decision making and power digital products — you need to trust it, too. If you’ve been on the receiving end of bad data, you understand the pain: lost revenue, wasted time, and most importantly, lost confidence in data products. As the industry leader in Data Observability, Monte Carlo solves this problem by enabling teams to accelerate the adoption of trustworthy, reliable data and stop bad data in its tracks — before it impacts the business.”
Read Monte Carlo Raises Series C, Brings Funding to $101M to Help Companies Trust Their Data in the company’s blog to learn more.
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