MANTA raises USD13 million for Unified Lineage Platform
MANTA, a unified data lineage platform provider, has closed a USD13 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 organisation’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 modernisation 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 analysing it in an automated way.
“An organisation'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,” says 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 organisation.”
Following the path of automation allows organisations 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 per cent, performing 95 per cent 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. Organisations in every corner of the world are struggling with this problem and so did I before MANTA came to life,” says 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 organisations’ 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 organisations in business-critical areas including regulatory reporting, system improvement, upgrades, and stability,” says 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,” says Ales Duchac, associate at Credo Ventures. “We are convinced Tomas and his team have both the necessary skills and passion to fulfil 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,” says Markus Grundmann, partner at Senovo.