Paris, February 20, 2020 – DataGalaxy, a pioneering Lyon-based start-up in data knowledge governance, announces a €1.7 million funding round from Newfund and Evolem Start funds to accelerate the deployment of its data mapping platform in France and Europe.
Founded in 2015 by Sébastien Thomas and Lazhar Sellami, both experts in Data Management and Business Intelligence, DataGalaxy addresses the failure of many companies to exploit the potential of their data. Despite massive investments in BigData technologies, organizations are unable to negotiate the data-driven turn due to their inability to master the knowledge of the data they have. According to a VERITAS study, over 52% of data on average is unclassified, unknown, or even completely unknown within companies! “Companies have been digitized and equipped for many years to collect and process an ever-increasing amount of data. However, due to a lack of knowledge of this data, companies are struggling to leverage this asset to transform themselves,” says Sébastien Thomas.
DataGalaxy offers a data mapping Saas platform, focused on usage and designed to enable data and business teams to understand and exploit all the data in their company. “Our promise is that each employee can understand, locate, trace, and identify the use of the data that interests them and participate in enriching this knowledge. This is a prerequisite for unlocking the data-driven transformation of companies,” says Lazhar Sellami. With DataGalaxy, search and analysis time decreases on average by 40 to 50%. Specifically, DataGalaxy automates metadata collection, combines team collective intelligence (knowledge crowdsourcing), and artificial intelligence (enrichment suggestions, classification, etc.) to identify and give meaning to a company’s data.
DataGalaxy enables the implementation of Data Catalogue to optimize team performance (Business Intelligence, Data office, etc.) and quickly deploy traceability solutions (Data lineage) or regulatory compliance (GDPR, Solvency 2, etc.) DataGalaxy has more than thirty clients including Groupe Rocher, Covéa, AG Insurance and SNCF Gares & Connexion.
With this €1.7 million funding round, DataGalaxy plans to enrich its connectivity and integration with DataOps players and strengthen its teams to accelerate its commercial deployment in France and Europe in 2020.
About DataGalaxy
Founded in 2015 in Lyon, DataGalaxy is the pioneer of collaborative data governance in France. DataGalaxy is the industry’s first data knowledge catalog helping organizations understand how their entire business runs on data. An established leader in Europe, growing rapidly and operating worldwide, DataGalaxy offers a user-centric platform dedicated to metadata mapping, active metadata management, and metadata knowledge sharing. With its innovative approach to data governance and cataloging, DataGalaxy helps businesses of all sizes gain control over their data assets and make better, more informed decisions.
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About Newfund:
Founded in 2008 by François Véron and Patrick Malka, Newfund is a venture capital fund founded by entrepreneurs for entrepreneurs. Newfund provides capital to start-ups at the beginning of their journey. It has €230 million, subscribed by entrepreneurs and family offices committed to entrepreneurial development. In 2019, Newfund has more than 76 active participations, including Aircall, In2Bones, Zinier, and Eqinov. The fund has made about fifteen significant exits, including Luckey Homes (acquired by Airbnb), Medtech SA (acquired by Zimmer Biomet), and Beyond Ratings (acquired by London Stock Exchange Group). Newfund is also the only French early-stage fund present in the United States in Silicon Valley, with more than 25 participations.
More information can be found at: www.newfundcap.com
About Evolem Start:
Evolem Start is the investment structure of an entrepreneur (Bruno Rousset, founder of April). Since 2011, it has been supporting innovative projects in their commercial acceleration phase by investing tickets ranging from €300k to €3M. Agnostic in terms of industry and maturity, Evolem Start values the team, its complementarity, and its fit with the project above all else.
More information can be found at: www.evolem.com
