Toronto-based data management provider Ataccama Inc. has secured a $150 million investment from Bain Capital Tech Opportunities.

Ataccama said in its announcement of the investment today that the capital will go toward expanding go-to-marketing activities. The startup intends to accelerate its sales, marketing and customer success initiatives. Ataccama will also build new features to help its enterprise customers manage their data more efficiently.

Finding business insights in a company’s data involves a significant number of steps, some of which can be highly time-consuming. Organizations typically use not one but multiple software tools to carry out the process. Attacca provides a software platform, Ataccama One, that combines several data tools in a single product to speed up the task of extracting insights from a company’s records.

Before an organization can start analyzing its data for useful patterns, it has to ensure that the data is accurate. Ataccama’s platform includes a tool that uses artificial intelligence to help workers find inaccurate records. For added measure, the platform enables users to define data quality rules manually and have them automatically applied across multiple internal systems. 

Maintaining the accuracy of a company’s data is difficult because there’s a lot of information to manage and, moreover, the information changes over time. Ataccama says its platform addresses both challenges. Besides automatically pointing out inaccuracies in a dataset, the platform also tracks modifications to the dataset and can determine if a change introduces errors.

Companies often use a type of software known as a data catalog to make business information available to their analytics teams. A data catalog enables users to retrieve information from different systems through a centralized interface, which is faster than accessing each system individually. Having a centralized interface eases a number of related tasks as well.

Ataccama’s platform includes a built-in data catalog. The startup also offers other features to ease users’ work, including a tool that can visualize business information in graphs to simplify analysis. If needed, Ataccama users can use the platform’s built-in feature set to change a dataset’s format or combine it with records from other sources. 

“Large organizations are struggling to scale and decentralize their data initiatives and enable data democratization,” said Ataccama Chief Executive Officer Michal Klaus. “Ataccama ONE Gen2 provides a seamless way to empower both technical and less technical ‘data people’ across the organization to create high-quality, governed, safe and reusable data products.”

According to Ataccama, simplifying data management tasks not only helps companies increase the accuracy of their information but also speeds up analytics initiatives. The startup claims that some customers speed up their data processing efforts by up to 70% using its platform.

Ataccama says its annual recurring revenue doubled last year thanks to strong demand for the platform, but didn’t disclose absolute numbers. The startup is reportedly profitable. The investment from Bain Capital Tech Opportunities that Ataccama announced today marks the first time it has raised outside funding since launching. 

Image: Ataccama