Brussels-based Soda has secured €11.5 million in fresh funding to bolster its data monitoring platform.
The round was led by Singular, with participation from prior seed investors Point Nine Capital, Hummingbird Ventures, the US-based Data Community Fund and a number of angel investors.
Soda basically wants to help keep data "fit for purpose", i.e. verifiable and trustworthy by connecting data engineers, operations and the business to collaborate and work with trusted data sets. This in turns allows its customers to create an integrated data environment, enabling them to respond faster to change, better adopt and deploy new technologies, and to develop new products and services.
Brought to life by CEO Maarten Masschelein, previously with Collibra, and Tom Baeyens (ex-Alfresco, JBoss and Red Hat), Soda says it plans to use the funding to improve both the usability and scalability of its cloud-based platform, and make moves to establish a global community of users with the upcoming release of an open source community edition and enterprise edition.
"The testing and monitoring of software and infrastructure is ubiquitous, so why don’t we apply the same principles to data, arguably any business’ most important strategic asset? The world’s fastest-growing companies rely on data in online retail, financial markets and even vaccine discovery, and in every instance the quality and integrity of the data is paramount," said Baeyens, who serves as the company's CTO.
"Our data monitoring platform empowers teams to collaborate seamlessly to firstly define what quality data looks like, and then resolve issues swiftly before they have an adverse impact on the business downstream," he added.
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