Our Investment in Artemis — Fellow Fund

We are thrilled to introduce Artemis as the first portfolio company of our Fellow Fund! Artemis is a data infrastructure company that empowers startups and mid-size businesses to manage their data stack faster, cheaper, and easier than ever before. Ripple Ventures led Artemis’ first financing round with Front Row Ventures, and some incredible angels.

Introduction

Recognizing the increasing significance of data, Artemis allows teams to effortlessly connect data from any sources through their 160+ integrations, and provide tools such as data transformation, management, and visualization for necessary analysis. The company was founded in 2022 by Josh Gray, who experienced first-hand the pain points of scaling his first startup without access to resources to fully leverage data insights. William Shi, co-founder, and CTO, has extensive knowledge in building in the data infrastructure industry and joined upon listening to Gray’s presentation at Collision 2022. Check out his presentation here!

Market

The Opportunity

According to Forrester, up to 73% of company data collected are under-utilized. In an age where data insights are a crucial competitive necessity, companies that are complacent bear the cost of lost revenue opportunities, lowered efficiencies, and productivity. To leverage data to empower business decisions, organizations often resort to building their own data infrastructure in-house through patching multi-vendor solutions and workflow orchestrators.

Current Solutions

Modern data stacks that companies resort to (i.e. Fivetran, dbt, Amazon Redshift, Snowflake, and Databricks) are incredibly difficult to navigate and maintain without technical knowledge Moreover, traditional APIs and legacy data integration tools are tedious and time-intensive to operate.

Looking at these options quantitatively, maintaining a data stack requires $520,000 per year and 44% of a data engineer’s time, in addition to the $250k and 6 months it takes to set up the infrastructure. The high cost of talent and technical bloat increases the barrier for startups and mid-sized companies to hire data engineers and access valuable data insights.

In light of this, we believe it is the optimal time to be building in the growing space. We are confident in Artemis’ team in their ability to create a revolutionary platform that empowers startups to utilize data in an impactful way.

The Artemis Difference

The Artemis platform adds value in three main ways: Connections, Transformations, and Visualizations. Their turnkey infrastructure allows their users to get up and running in 40 minutes, rather than the 6 months+ it takes to manually get set up. Furthermore, anyone with basic SQL knowledge is now able to unlock key insights as the platform reduces the technical skillset to maintain and manage.

To begin, a key value proposition of Artemis is its ability to add/integrate 160+ data sources into one centralized place. Artemis simplifies the process of storing and aggregating data from unrelated sources, allowing for high scalability and faster loading times.

Moreover, users can run SQL queries on all of their data sources, transforming data into tables for sorting and organization. Artemis lowers the barrier of running a data infrastructure by replacing the need to stitch together a cloud data warehouse, an ELT solution, a data transformation solution, a scheduler, and a BI solution.

Artemis is able to provide a managed lakehouse or sit on top of your existing warehouse, making it a lightweight tool empowering teams with basic knowledge of SQL to run, export, and share the entire analytics process with a few clicks.

Intentionally placing data governance, security, and permissions control considerations at the forefront, Artemis is well-equipped with foundations to scale. With functions such as easy sharing with teams (real-time collaboration, huddles, etc.), adding comments to queries, documenting in the dashboards, and much more, Artemis has a daring product vision that brings a novel layer of collaboration in data that excites us.

Check out their website at www.artemisco.ca and try their product today!

Team

• Josh Gray (CEO): Carleton University — Finance (2022). Our team is impressed by Josh’s leadership qualities, and his ability to articulate technical concepts with ease. He started his first company called Guelph Box in 2020 and scaled it to over $820,000 in revenue in 2 years before selling it. Josh experienced first-hand the pain points of growing his startup without being able to leverage data, so he made it his mission to help others like himself bridge the gap. He educated himself about the data infrastructure space and has been instrumental in building the platform. He is incredibly knowledgeable and has been absolutely outstanding to work with.
• William Shi (CTO): University of Waterloo — Mechatronics (2023). William has extensive experience in building software and data stacks for companies across multiple disciplines. He was a founding engineer at a startup called Paq and his experience ranges across various industries. He has known Josh for years and expressed interest in joining the team after seeing news about Collision.