Led by Emergence Capital, Funding Will Drive Product Development and Team Growth
Coalesce.io, the data transformation company, announced it has secured $26 million in Series A funding led by Emergence Capital, with participation from seed investors 11.2 Capital, GreatPoint Ventures, and Industry Ventures. This round follows a momentous year for Coalesce as the company exited stealth and raised $5.92 million in seed funding in January. This round of funding will build on that momentum with Coalesce continuing to invest in the product and ecosystem.
“Data experts and data are the cornerstones of every insight. To make data valuable, it must be transformed in the right way, and adapt to change over time,” said Armon Petrossian, CEO and co-founder of Coalesce. “We’re building a world-class organization to help data teams quickly model and transform data at scale. Along this journey, it was a priority for us to find the right investment partners that understand our vision. We’re excited to team up with Emergence Capital, they immediately recognized the value of our cloud data transformation platform and how it will revolutionize this industry.”
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The largest bottleneck in the data analytics supply chain is transformations. Coalesce launched in January 2022 to eliminate this problem by building an enterprise-ready platform that makes data transformations easier to perform, and scales to the largest data warehousing implementations in the world using the Snowflake Data Cloud. Coalesce is the only solution to combine the speed of an intuitive graphical user interface (GUI), the flexibility of code, and the efficiency of automation for data transformations, dramatically increasing data teams’ productivity, the quality of data, and time to insights.
“The value of data has been talked about for decades but no one has developed a way to make data usable that is both easy and scalable,” said Joe Floyd, General Partner at Emergence Capital, lead institutional investor in Zoom; as well as early investors in Salesforce, Bill.com, Gusto, Veeva, and others. “When Armon and his team walked us through the product and vision, I knew that this team was creating something unique. Early customers clearly see the value in their technology and we are excited to partner with Coalesce.”
Coalesce made significant progress in 2022 with team expansion into EMEA, the announcement of strategic partners including Snowflake and Fivetran, and achieving SOC 2 compliance. All of these efforts built the groundwork for the company to track significant customer growth.
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