AtScale Secures $50 Million in Series D Financing led by Morgan Stanley
December 12, 2018 – Portfolio company AtScale, the Data Warehouse Virtualization Platform Company, today announced that it has closed a Series D funding round led by Morgan Stanley, with participation from new investors as well as AtScale’s previous investors Atlantic Bridge, Storm Ventures and Wells Fargo. The new funding enables AtScale to bolster its already significant technology lead, innovate with greater focus on accelerating insights, expand product capabilities and develop deeper relationships within the analytics ecosystem. Additionally, AtScale will accelerate its investment in sales and marketing, both domestically and internationally.
2018 was a breakout year for AtScale, the leader in the $122 billion data warehouse virtualization market (Source: IDC). The company on-boarded more than 50 new customers in 2018, successfully expanded global efforts by entering new markets across Europe and Asia and secured strategic partnerships including Cloudera, Microsoft and Oracle.
“AtScale’s expertise in data management and operational analytics continues to drive customer adoption in Global 2000 enterprises,” said Chris Lynch, Executive Chairman and CEO, AtScale. “Our customers are embracing the cloud, emerging data platforms and multi-cloud deployments at unprecedented rates, demonstrating the power and value of AtScale’s data warehouse virtualization platform.”
The AtScale platform serves as the virtualization layer for online analytical processing (OLAP), enabling organizations to seamlessly and non-disruptively integrate emerging cloud data platforms like Snowflake, Google BigQuery, Amazon Redshift and Microsoft Azure SQL Data Warehouse into their operational analytics. Major customers, such as TD Bank, Allstate, Kraft-Heinz and JPMorgan Chase, rely on AtScale to support their data-driven enterprises and leverage analytics to make better business decisions faster and with greater confidence.
“Wasted data is a lost opportunity. Through partnering with AtScale, enterprises can transform unwieldy data stockpiles into a competitive advantage,” said Burak Alici, Managing Director, Morgan Stanley. “When Chris joined AtScale, we saw a unique opportunity to partner with a proven leadership team to deliver an unmatched solution that has the power to revolutionize business intelligence and create value for all stakeholders. I look forward to working with the board and the entire team as AtScale enters its next phase.”