No-code business intelligence startup y42 raises $2.9m for scalable and affordable data stack

No-code business intelligence startup y42 raises $2.9m for scalable and affordable data stack

Published: 23-03-2021 12:53:00 | By: Pie Kamau | hits: 4868 | Tags:

y42 (formerly Datos Intelligence), a no-code business intelligence platform, announced a seed round of $2.9 million, led by La Famiglia VC. Additional investors include the co-founders of Foodspring, Personio and Petlab.

With the advent of cloud data warehouses such as BigQuery and Snowflake, it's now possible for organizations of any size to utilize data warehousing without large upfront investments. This adoption is reinforced by the growing understanding of data as a strategic asset and the shift towards data-driven decision-making across all departments of an organization. However, much of the existing data warehouse tooling is targeted towards engineers, making it inaccessible for the vast majority of other departments. In addition, data tools that target non-technical users don't integrate with a scalable data warehouse and thus create data silos.

Hung Dang, Founder and CEO, y42: "As the availability of data increases, the systems to handle this data have grown more complex. Building a scalable data infrastructure has become a nightmare for many organizations. Our mission is to empower teams to get value from data without wasting effort on engineering and maintenance."

y42 is the first collaborative data platform that brings together technical and non-technical users. The company's no-code approach enables organizations of all sizes to quickly set up their analytics infrastructure. The focus on readability and transparency enables engineers, analysts, and business users alike to develop a shared understanding of data pipelines and their underlying business logic. Simultaneously, the modularity ensures that other data tools can access and consume all data processed by y42. Ultimately, this enables organizations to build a diverse set of use cases such as Management Reporting, Marketing Attribution or Customer Retention in one platform, instead of relying on multiple isolated tools.

Judith Dada, General Partner, La Famiglia VC: "When we first saw the product demo, it struck us how on top of analytical excellence, a lot of product development has gone into the y42 platform. More and more work with data today means that data silos within organizations multiply, resulting in chaos or incorrect data. y42 is a powerful single source of truth for data experts and non-data experts alike. As former data scientists and analysts, we wish that we had y42 capabilities back then."

y42 is currently working with customers like LifeMD and Petlab in the US and Everdrop in Europe. The company is planning to introduce additional features, such as reporting templates and data quality assurance later this year. The funding will further support y42's go-to-market strategy as well as product development.