Qualytics, the leading active data quality platform for enterprises, announced it has raised $2.5 million led by venture capital firm Tech Square Ventures, with participation from Engage, Knoll Ventures, SaaS Ventures and GRI Ventures. This adds to the existing investor group including Inner Loop Capital, Propel Baltimore Fund, The LegalTech Fund, Maryland Momentum Fund, Gaingels and prominent angel investors such as Jake Stein, Bill Murphy, Avi Rubin, Dwight Raum, Patrick McKenna among others. The funding will be used to scale the company to meet growing demand from Fortune 500 enterprises deploying Qualytics as their data quality platform and brings the total raised to date by the company to over $5 million.
“Most companies don’t know the quality of their data. In a world of data-driven decisions, insights and innovations, managing the quality of enterprise data at scale is an ever-growing need. Our novel approach applies ML-generated record-level data quality rules to identify anomalies as close to the source as possible and enables our customers to proactively address their data quality.” said Gorkem Sevinc, co-founder and CEO. “We are excited to partner with Tech Square Ventures, Engage, Knoll Ventures and GRI Ventures in addition to our existing list of impressive investors. As we continue to cater to the needs of enterprise customers, this funding will fuel the growth of Qualytics on our exciting journey.”
Bill Nussey, Partner at Tech Square Ventures, said: “We are excited to invest in Qualytics to address major issues in enterprise data quality. The Qualytics team has built an amazing product to help data teams and subject matter experts manage and collaborate on data quality at scale. As part of Engage Cohort 10, Qualytics received overwhelming interest from our corporate partners in solving the long-standing and growing issue of bad data in enterprise data ecosystems; we are looking forward to being part of Qualytics’ journey.” Andrew Dorman of Knoll Ventures added: “Qualytics is a rare early-stage company launched by veteran founders with startup and enterprise experience, working on a large and growing problem. We’re excited to partner with the company as they scale its solution to meet the evolving needs of customers looking to make data-driven decisions.”
Bill Murphy, former CTO of Blackstone and founding CTO of Capital IQ and a member of the Qualytics Board of Directors added “We are thrilled with the backing from new and existing investors in our journey. Data quality is a consistently growing problem for enterprises of all shapes and sizes, and Qualytics’ ML-first approach to managing rules and workflows associated with quality of data within the ever-growing complexity of the enterprise data ecosystem is already showing great impact with early customers”.