Companies are collecting a huge amount of data but struggling to efficiently scale its use. Very often, data analysts lack proper data discovery tools and create the same dashboards with each market they enter.
Enter Castor. The Paris-based AI-powered platform helps companies to find, understand and use their data assets effectively. It has now raised $23.5 million in funding. The Series A round was led by Blossom and backed by previous investor Frst and a number of high-profile angel investors such as Florian Douetteau, founder of Dataiku.
Castor will use the funding to develop their sales and marketing teams in the U.S. where it has offices in San Francisco and New York and has grown 40% month-on-month for the past 12 months.
Founded by Tristan Mayer, Xavier de Boisredon, Amaury Dumoulin and Arnaud de Turckheim, the platform is disrupting the way companies find and understand their data. With real-time updates to ensure data health within the company and onboarding new customers in less than an hour, Castor claims its platform is easy-to-use, friendly and collaborative.
Castor CEO and co-founder Tristan Mayer said: “Every company needs to be able to efficiently use data to build their business. Too often that data is spread across multiple teams and hidden away in multiple databases and dashboards. Even when you’ve found the data, there’s rarely enough context available to determine how to use it or what it means. With Castor, a company’s data has never been so clear or so approachable. We’re delighted that Blossom is investing with us on our data discovery and democratisation journey.”
Blossom partner Imran Ghory said: “The next generation of successful scale-ups will all need to make better use of their data and Castor is the most effective tool for that. The efficacy of the product is borne out by the adoption rates company-wide among Castor’s customers and we can’t wait to introduce this product to other companies so that they can join the Castor revolution.”