Credo Ventures and Senovo invest in Czech tech start-up MANTA [PR]
Prague, New York, 18 September 2018 — Czech fund Credo Ventures and German B2B Cloud & SaaS venture capital group Senovo have joined forces to finance a seed investment round for the Czech-American tech start-up MANTA.
MANTA developed a unique solution for the automated analysis of information flows in business intelligence and analytics environments. The product is a result of its cooperation with prominent Czech universitites and the Technology Agency of the Czech Republic. MANTA is currently a key part of the data infrastructure of many global companies, including PayPal, Comcast, and a bank from the US Big Four. The company successfully expanded to the US three years ago, opened a branch in Silicon Valley, and acquired its first several dozen customers.
“The market for data governance solutions literally exploded during the past year,” says Tomas Kratky, MANTA’s CEO. “Now, both big and small companies understand that if their data is a mess, no big data, AI, or data science investment will pan out. That’s a great opportunity for MANTA.”
Tomas Kratky continues: “We had an amazing first half of the year, but I felt like our potential was so much bigger. That’s why it was the right moment to invite a partner on board. I am extremely happy to join forces with Senovo and Credo. The funds they have invested will help us expand our sales and development teams, strengthen our position as the market leader in data lineage automation, and accelerate our growth on the American and Western European markets. To be honest, the first steps have already been taken. We opened another US branch in New York in May, doubled the number of developers in our DevCenter, and signed up a few new clients, all at the top of their respective fields. What a ride!”
MANTA is known for its unique ability to “crack” programming code and map data flows in very complex BI environments that consist of millions of lines of code. MANTA’s customers are no longer dependent on manual labor and are able to implement their data governance doctrine across the whole company. It does not really matter if the main reason is regulatory compliance (BCBS 239, GDPR, or something else), effective data management, or lowering development and maintenance costs — MANTA is the right solution to automate data lineage. This unique ability is an advantage not only for MANTA’s customers, but also its partners — data solution providers, local and international consultation companies, and worldwide system integrators.
“Effectively implementing data governance is one of the main challenges we see with enterprise companies. Manual mapping and the subsequent “freezing” of system landscapes just won’t work anymore with agile, data-driven organizations and Manta is the globally leading solution for this critical piece of effective data governance”, says Markus Grundmann, Partner at Senovo, on what made the investment so compelling. Vladislav Jez, Partner at Credo Ventures, adds that “by learning more about Manta and talking to its customers, we came to believe the company has developed a stellar technology, which, backed by the zeal and skills of Tomas and his team, has what it takes to provide the much needed visibility into increasingly complex and opaque IT systems.”
MANTA is a great example of the connection between business, traditional, and new findings in computer science. Joint research projects with the Czech Technical University and Charles University are moving the whole field forward and simultaneously allowing the direct application of the research results in a business reality.
About Credo Ventures
Credo Ventures is an early stage venture capital firm with offices in Prague and Silicon Valley. Investing in IT startups with a strong technological foundation, the Credo team strives to partner with outstanding founders to realize their global ambitions. It manages 71M € across 2 funds and to date, it has made more than 35 investments throughout Central and Eastern Europe.
Senovo is a Munich and Berlin based early stage venture capital fund with a focus on B2B SaaS Investments. The Senovo team believes that SaaS should be the dominant model for delivering software and is thrilled about the great market opportunities which are continuously created by the secular shift towards SaaS. Senovo funds outstanding entrepreneurs and teams building world class products and generally gets involved soon after product launch.
MANTA automates customer data lineage and enhances the capabilities of data governance solutions. MANTA is the leader in metadata harvesting due to its ability to process and understand custom programming code and describe its logic. The data lineage extracted can then be further used for data warehouse optimization, lowering development costs, impact analyses, data migration, data discovery, and data security projects as well as for meeting regulatory compliance standards such as CCAR, HIPAA, BASEL II/III, GDPR, and others. MANTA’s customers include organizations such as PayPal, Comcast and OBI.