Seattle startup Revefi raised $20 million in a Series A round to support growth of its software platform that helps companies get a handle on data-related costs, usage and performance.
The company said it will use the fresh cash to help roll out a new product called Raden, which it describes as an “AI data engineer.” It uses generative AI and automation to help customers maximize ROI from data warehouse tools such as Snowflake, BigQuery, Redshift, Databricks, and others.
“Revefi’s vision for an AI data engineer to augment and enhance data teams is exactly the kind of disruptive innovation that creates significant value for the enterprise,” Icon Ventures General Partner Preeti Rathi said in a statement. “Early customers we spoke with were incredibly excited about the product.”
Icon Ventures led the Series A round. Other backers include Mayfield (which led the previous round), GTM Capital, and StepStone Group. Total funding to date is $29 million.
The 30-person company did not disclose specific financial metrics but said revenue is growing “at a rate of 800%.”
Revefi is led by CEO and co-founder Sanjay Agrawal, who was previously co-founder and head of the Seattle office for AI analytics company ThoughtSpot. He also held software engineering roles at Microsoft and Google.
Shashank Gupta, co-founder and CTO, is a former senior staff software engineer of data infrastructure at Facebook. He was co-founder and head of engineering at ThoughtSpot.
Revefi, founded in 2021, opened an engineering center in Bangalore, India, earlier this year.
https://ift.tt/NEW5mMj September 04, 2024 at 01:00PM GeekWire
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