Norwest Venture Partners Leads Investment in Unified, AI-powered Data Development Platform that Streamlines Enterprise DataOps
MILPITAS, CA and TEL AVIV, ISRAEL / ACCESSWIRE / November 21, 2024 / Montara, a data development platform that enables organizations to deliver better data products faster, today announced the successful close of a $5.4 million round of seed funding led by Norwest Venture Partners (Norwest). The round was joined by other prominent angel investors, including Borge Hald, co-founder and former CEO of Medallia. Montara will use the new capital to scale its go-to-market activities and product development.
Harnessing data effectively is a critical success factor for businesses across industries in today's fast-paced digital landscape. Companies must efficiently develop and deliver data products to remain competitive. Montara addresses this need through its innovative, unified, AI-powered Data Development Platform, which provides a unique, integrated approach to data development and deployment. The platform allows data engineers, data analysts and other stakeholders to collaborate seamlessly within one tool and workflow using a single AI-powered application, user interface and data model. Its unified, all-in-one platform helps teams deliver better data products, faster and more cost-effectively.
"Throughout my career, I've seen how challenging it can be to integrate various data tools, meet diverse stakeholder requirements, and manage a complex tech stack to extract meaningful data insights," said Ori Soen, founder and CEO of Montara. "We built Montara from the ground up to enable fast, collaborative data development while simplifying the tech stack and integrating smoothly with existing tools like dbt. This funding will enable Montara to satisfy growing customer demand."
Montara's customers across industries including healthcare, gaming and enterprise software are enjoying benefits such as faster development, expanded development capacity, improved data quality, enhanced collaboration, and a streamlined data stack that lowers the total cost of ownership.
"The ability to effectively conduct data development is critical to success in today's world," said Dror Nahumi, general partner at Norwest. "Montara's pioneering Unified Data Development Platform empowers organizations to deliver better data products and insights faster. With its strong and experienced leadership team, Montara is well-positioned to lead in this fast-growing category."
About Montara
Headquartered in Milpitas, Calif. and Tel Aviv Israel, Montara was founded to simplify the complexities of data development for analysts and engineers. The company is venture backed by Norwest. For more information visit www.montara.io.
About Norwest
Norwest is a global venture and growth equity investment firm managing more than $15.5 billion in capital. Since its inception, Norwest has invested in more than 700 companies and currently partners with more than 250 companies in its venture and growth equity portfolio. The firm invests in early- to late-stage businesses across key sectors with a focus on enterprise, consumer and healthcare. The Norwest team offers a deep network of connections, extensive operating experience, and a wide range of impactful services to help CEOs and founders scale their businesses. Norwest has offices in Menlo Park and San Francisco, Calif.; Mumbai, India; and Tel Aviv, Israel. For more information, please visit www.norwest.com.
Contact Information
Ori Soen
CEO
info@montara.io
1 (650) 934-1919
SOURCE: Ori Soen
View the original press release on newswire.com.
