Why We Invested in Secoda
We’re excited to announce that Craft Ventures led the $14M Series A for Secoda, the first AI-powered data discovery and search platform. We’re joined by Abstract Ventures, existing investors YCombinator and Garage Capital, and leaders in the data space including Jordan Tigani (CEO of MotherDuck), Scott Breitenother (CEO of Brooklyn Data Co.), and Tristan Handy (CEO of dbt).
As seed investors, we’ve been impressed with the team’s thoughtfulness, speed, and execution over the last two years. Secoda’s growth is a direct result of the customer love it inspires from the first week customers start using the product. We’re excited to see that continue!
The advent of the “Modern Data Stack” in recent years has led to a proliferation of data assets and sources across companies. Ask any data team at a growing company and they will attest to spending many hours on redundant data requests from colleagues across the company, which require manual responses each time. These problems are compounded as companies grow – more stakeholders means the quantity, complexity, and obscurity of internal data increases.
Secoda has become a data copilot for companies of any size and for all team members, regardless of job function or technical abilities. Not only does Secoda offer a centralized workspace for an intuitive data discovery process, but it allows users to get answers within their existing workflows, thanks to the Secoda Chrome extension and integrations with Slack and others. This drives faster and more accurate decision making across all functions. It’s clear the company’s mission and product has resonated –since we originally invested Secoda has seen rapid growth and a list of customers including Vanta, Lithic, Ritual, Clover, Panasonic, and Kaufland.
Secoda has harnessed generative AI to accelerate its vision and already has powerful AI features in production. Secoda’s AI provides hyper-contextualized results to quickly answer questions on internal data across the company, driven by a powerful metadata ingestion tool and embeddings search. This is an exciting opportunity as it opens a new wave of potential applications for data search and discovery.
Since we invested two years ago, we’ve had the opportunity to partner closely with Etai and Andrew and see them grow from a scrappy two-person team to a team of 20 and growing. We look forward to our continued partnership and the great journey ahead. Congrats to the team!
Written by Jeff Fluhr and Jenny Sui
