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Saturday, August 13, 2022

Swedish startup raises $15M seed to stop firefighting bad data with the next generation data quality platform

Stockholm-based data reliability platform Validio has collected 15 million euros in a seed round led by Swiss VC firm Lakestar with the participation of Swedish seed VC firm J12 and many angel investors including famous football player Zlatan Ibrahimović, Snowflake‘s CMO Denise Persson, Cofounder of MongoDB Kevin Ryan, Cofounder of Neo4j Emil Eifrem and Mehdi Ghissassi from DeepMind, Kim Fai Kok and Dara Gill. The startup will be put the funding in use for R&D, business and product development. This capital will also allow them to hire new talents.

$15M seed round and the next phase of Validio’s journey with Lakestar

Today marks an important milestone for Validio: they have raised $15 million in seed funding, led by Lakestar, with participation from J12 and a list of renowned angel investors with operational experience building global data infrastructure leaders such as Denise Persson (CMO at Snowflake) Kevin Ryan (Co-founder at MongoDB), Emil Eifrem (CEO & Co-founder at Neo4j) and Mehdi Ghissassi (Head of Product at Deepmind).

First, it will enable them to increase the speed at which they are building Validio as a company: accelerating commercial expansion, product development, and R&D, and launching their next-generation data quality platform on various cloud marketplaces.

Second, with the team already drawing from decades of experience at globally scaled companies and renowned institutions like Google, Spotify, Klarna, Zettle (acquired by Paypal), Trustly, BCG Gamma, Harvard University, and Stanford University, They will use the capital to continue onboarding exceptional talent to the company.

Validio, Patrik Liu Tran“For me personally, this funding means I can continue to work for the Validio vision that everyone in the team has taken a bet on. One team member even moved his entire family from Brazil to Stockholm to work here. It humbles me to know they all can get a job wherever they want, but they have enough conviction to spend their time here and nowhere else. Now, with this funding, we can continue this journey together—and it feels great.” says Patrik Liu Tran, Cofounder and CEO of Validio.

They are on a mission to end bad data that is hurting companies and organizations across the globe, and this is an enormous problem with large-scale implications that needs to be solved. The data quality tools provided to data professionals have so far been insufficient. On the one hand, rule-based manual solutions are too cumbersome to set up, and therefore they don’t scale. On the other hand, observability tooling tends to passively focus on metadata in the warehouse, effectively limiting the comprehensiveness of the data quality validation—meaning data teams still can’t fully trust their data.

They, at Validio, are building a platform that connects end-to-end to all data sources (including data lakes and streams) and can be scalably used to validate metadata and the actual data points in real-time. It allows users to partition data to compare apples to apples, e.g., validate pricing data individually for each country. Validio enables data teams to catch bad data and fix it before it’s consumed downstream. All in all, they hope to bring unparalleled comprehensiveness to data quality validation, so data teams can finally truly trust their data.

Click here to read more funding news.

Nurcin Metingil
Nurcin Metingil
A permanent student, a passionate first reader and nowadays doing master’s degree in Publishing Management. Beside these, I am up for games! I have been playing games since I was 6. Now, I am whispering "Business. Business. Numbers. Is this working?"

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