For Satyen Sangani, CEO and cofounder of leading data intelligence vendor Alation, data intelligence has many components: master data management, privacy data management, reference data management, data transformation, data quality, data observability and more.

With the volume of data in most organizations growing on an ever-growing trajectory and the rise of the data-driven culture, data intelligence is becoming increasingly important and gaining mindshare. According to IDC, the data integration and intelligence software market is valued at more than $7.9 billion and growing toward $11.6 billion over the next four years.

Alation, founded in 2012 and pursuing a strategy of building an ecosystem around data intelligence, today announced it has raised $123 million in a series E financing round. This increases Alation’s valuation by nearly 50% to surpass $1.7 billion and follows five consecutive quarters of accelerated annual growth, including recently surpassing $100 million in annual recurring revenue (ARR).

This funding news seems to go against the tide of the economic downturn that is affecting most technology companies. Sangani says he believes that the reason is Alation’s approach.

“Our research shows that building a data-driven culture is the #1 priority in the C-suite. Alation helps its customers adopt and evolve a data culture — through data search and discovery, data literacy, and data governance,” said Sangani.

Read the full article on VentureBeat