Metaplane Announces $13.8M Series A led by Felicis on Heels of Rapid Growth

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Mar 05, 2024, 11:30 ET

Leading data observability platform for data teams experiences rapid growth, closes capital from top tier investors

BOSTON, March 5, 2024 /PRNewswire/ -- Metaplane, the leading data observability platform for data teams, today announced its $13.8 million Series A funding round led by Felicis, with participation Khosla Ventures, Flybridge, Y Combinator, Stage 2 Capital, B37, and SNR. This comes on the heels of a successful 2023 that saw impressive revenue growth, accelerated customer acquisition, and rapid product innovation. With the close of its Series A round, Metaplane has now raised a total of $22.2 million including its Seed round, which was raised less than one year ago, and includes leading investors like Khosla Ventures, Flybridge, and Y Combinator. Metaplane will use the fresh round of capital to continue building the next evolution of data observability, with the goal of helping data teams monitor data more deeply, easily, and faster than ever before. In 2023, the Metaplane customer base tripled to over 100 companies and now includes the data teams at leading companies like Klaviyo, Sigma, Census, GoFundMe, Bose, Ramp, and ClickUp.

"We are so proud of what Metaplane was able to accomplish in 2023. Data is foundational to modern businesses, and our commitment to bring insights, fast resolution times, and peace of mind to our customers is our company mission. With this funding, Metaplane will enhance its data observability platform to support the evolving needs of data engineers. Our main areas of focus will be adding new automations, deeper data observability analytics and new ways to integrate Metaplane into data workflows so everyone using the data can check performance," said Kevin Hu, CEO and co-founder of Metaplane. "We are honored to count Felicis and all our other investors as our partners in this effort. Their belief in Metaplane makes this all possible." Metaplane usage has surged this past year - as of January 2024, Metaplane customers have run more than 500 million data quality checks on over 40 million data assets and over 30 million data lineage connections. Metaplane customers tripled the number of monitors created while detecting and resolving over 80,000 incidents.

Metaplane was founded by Kevin Hu, Guru Mahendran, and Peter Casinelli in 2019 to provide instant visibility into data quality issues that negatively impact businesses. Data pipelines today are more complex than ever, with hundreds of data sources, convoluted business logic, and many cross-functional stakeholders. Testing, monitoring, and fixing issues across the entire data stack is critical and nearly impossible for one team or department to accomplish on their own. Metaplane data observability empowers data engineers to identify issues with machine learning-based data quality monitoring, enabling users to discover unknown incidents in real-time.

"Metaplane has changed the way we monitor our operational data," said Evan Cover, Director, BI Engineering and Governance at Klaviyo. "In the past, data teams had to be reactive and fix issues after they became problems. If data teams don't catch these problems, the business teams risk making important decisions with incorrect information. Metaplane puts us, the data team, in the driver's seat. At Klaviyo, we now more proactively monitor data quality and fix problems before the business teams are impacted. Within a week of deploying Metaplane, we were able to more quickly catch issues for the data and business teams. This led to even greater trust across the company. I sleep a bit easier at night knowing that Metaplane has our back."

"We believe that data will only continue to increase in importance, and as it does, additional layers of monitoring, tooling, and services will make data stacks even more efficient and crucial to all kinds of businesses, " says Javier Soltero, who joined the Metaplane board, is a Senior Venture Partner at Felicis, and is the SVP & GM of Canva Enterprise. "Metaplane's excellent team has built a compelling feature set that promises to drive deep technical innovation for data teams. But, what overwhelmingly made this investment decision a no-brainer was how passionate and happy Metaplane's customers are. They love both the product and team. In my experience, these are the fundamental drivers of growth and success."

Data teams interested in learning more about Metaplane can schedule a live demonstration at https://www.metaplane.dev/book-a-demo. Metaplane is hiring across all functions, and open positions can be found at https://www.metaplane.dev/careers.

About Metaplane
Metaplane, the leading data observability platform for data teams, ensures that companies can trust the data that powers their business. Metaplane's best-in-class data observability platform monitors your data warehouse to catch data quality issues when they happen and help prevent incidents before they occur. In doing so, Metaplane helps avoid costly mistakes, saves data teams hours spent debugging, and fixes issues before downstream users and customers are affected. Founded in Boston, Massachusetts in 2019, Metaplane has raised capital from Felicis, Khosla Ventures, Flybridge, Y Combinator, and others, and counts as its customers leading companies, like Klaviyo, Sigma, Census, GoFundMe, Bose, Ramp, and ClickUp. To learn more or get started for free, visit https://www.metaplane.dev.

About Felicis
Founded in 2006, Felicis is a venture capital firm investing in companies reinventing core markets, as well as those creating frontier technologies. The firm was the first to offer a Founder Development pledge, providing needed resources to help founders scale themselves. Felicis focuses on early-stage investments and currently manages over $3B in capital across nine funds. The firm is an early backer of more than 49 companies valued at $1B+. More than 100 of its portfolio companies have been acquired or gone public, including Adyen, Credit Karma, Cruise, Fitbit, Guardant Health, Meraki, Ring, and Shopify. The firm is based in Menlo Park and San Francisco in California. Learn more at felicis.com.

Media Contact
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SOURCE Metaplane