Monte Carlo raised $135M in Series D funding from IVP, with participation from Accel, GGV Capital, Redpoint Ventures, ICONIQ Growth, Salesforce Ventures, and GIC Singapore.
With this round, Monte Carlo has raised a total of $236M in a 20-month period, most recently announcing their Series C in August 2021 and a suite of new product functionalities to help data teams achieve more reliable data.
Monte Carlo intends to use the capital infusion to continue improving experiences for its hundreds of customers, scale the data observability category to new verticals, and grow its U.S. and EMEA go-to-market and engineering teams.
“As companies continue to invest in technologies that drive smarter decision making and power digital services, the need for high quality data has never been higher. Monte Carlo is charting the path forward for the data observability category and setting a precedent for the future of the modern data stack,” said Cack Wilhelm, General Partner at IVP. “After talking to dozens of Monte Carlo’s customers, two things became crystal clear: they are building a truly incredible product with near-immediate time to value, and they have one of the best teams in data ...”
“Over the past several years, companies across industries have gotten more bullish about data than ever before, investing in technologies like Snowflake and Databricks and hiring teams of engineers and analysts to build and scale data products that drive impact for the business. Still, it’s simply not enough to have data – it needs to be discoverable, accessible and reliable,” said Barr Moses, CEO and Co-founder of Monte Carlo. “... Our customer traction and roster of great partners like Snowflake, Databricks and dbt Labs highlight the continued growth and maturation of the data observability category, as well as the industry confidence in Monte Carlo’s approach.”
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