New investor Icon Ventures leads the Series A round with general partner Preeti Rathi joining the Revefi board

September 04, 2024 09:00 AM Eastern Daylight Time

REDMOND, Wash.–(BUSINESS WIRE)–Revefi today announced that it has raised $20 million in a Series A financing. The new funds will fuel the launch of Raden — the world’s first AI data engineer. Raden uses the power of GenAI + AI to augment busy data teams and vastly improve organizations’ ROI from their data investments. The new round was led by Icon Ventures, with participation from Mayfield, GTM Capital and StepStone Group.

“Mayfield is bullish on AI teammates leading us into the era of cognitive intelligence, transforming the way we work, live and play. We’re excited to see how Revefi’s AI data engineer will revolutionize data quality, observability, performance and user management for organizations.”Post this

In addition to the Raden launch, Revefi will use the new funding to scale engineering, product management, build out sales and marketing, and enhance customer success. The company has delivered unparalleled solutions to its expanding global customer base, which includes innovative Fortune 500 enterprises Madhive, Handshake and 2degrees.

“We’re thrilled to partner with Icon Ventures, Mayfield, GTM Capital and StepStone Group, who share our vision for empowering enterprises to build world-class data engineering teams and practices. With the introduction of Raden, the world’s first AI data engineer built using GenAI + AI, data teams can now break out of firefighting mode and become more strategic to drive new efficiencies and business success,” said Sanjay Agrawal, CEO and co-founder of Revefi. “Raden gives results in five minutes and has reduced customer data spend by 50% while realizing a 10x improvement in operational efficiency.”

“Revefi’s vision for an AI data engineer to augment and enhance data teams is exactly the kind of disruptive innovation that creates significant value for the enterprise. Early customers we spoke with were incredibly excited about the product,” said Icon General Partner Preeti Rathi. “This is not surprising given the rich background of the Revefi co-founders Sanjay Agrawal and Shashank Gupta, who were previously the co-founders of ThoughtSpot and have built high-performance databases, data quality platforms and search engines at Microsoft, AWS, Google and Meta.”

“Witnessing our ideation-stage partnership with Sanjay and Shashank has been incredibly gratifying,” said Navin Chaddha, managing partner at Mayfield. “Mayfield is bullish on AI teammates leading us into the era of cognitive intelligence, transforming the way we work, live and play. We’re excited to see how Revefi’s AI data engineer will revolutionize data quality, observability, performance and user management for organizations.”

About Revefi

Revefi is the creator of Raden, the world’s first AI data engineer. Raden augments data teams with expertise in data architecture, observability, system performance, optimization and cost management. With an automation-first, zero-touch and no-data-access approach, Revefi enables businesses to maximize ROI on their data investments, reducing data spend, driving 10x operational efficiencies and delivering results in just five minutes. Founded in 2021 by data experts and ThoughtSpot co-founders Sanjay Agrawal and Shashank Gupta, Revefi’s GenAI + AI powered platform provides automated solutions for complex data observability, data quality, FinOps and DataOps use cases. For more information, visit revefi.com.

Contacts

Sara Delacruz
PRforRevefi@bospar.com

Girish Bhat
girish@revefi.com

(c)2024 Business Wire, Inc., All rights reserved.