MOUNTAIN VIEW, Calif., Aug. 02, 2023 (GLOBE NEWSWIRE) -- In a release issued earlier today by Lightup, please note that "Andreessen Horowitz and Newland Ventures" has been updated to "Andreessen Horowitz and Newlands" in the headline and first paragraph. The corrected release follows:
Lightup Closes $9 Million Series A Round Led By Andreessen Horowitz and Newlands to Democratize No-Code Data Quality Checks Across Enterprise Operations
Lightup, developers of a modern no-code data quality monitoring platform, announced today that it closed $9 million in Series A funding to further empower organizations to democratize data quality checks for 100% coverage across enterprise operations. The round was led by Andreessen Horowitz and Newlands, with participation from Spectrum 28 Capital, Shasta Ventures, Vela Partners, and Incubate Fund. Lightup will use the infusion of capital to enhance its core technology, grow its team to tap into global opportunities and expand its partner ecosystem to serve a broader customer base.
Maintaining high data quality is a chronic challenge for data-driven businesses, reducing operational efficiency and preventing their ability to make timely informed decisions based on accurate, trusted data. Traditional approaches to data quality checks are time-consuming and resource-intensive, requiring highly specialized technical expertise and long development cycles. Lightup’s mission is to simplify and democratize data quality checks for business users, data engineers, and data management teams alike, offering the first and only out-of-the-box no-code data quality monitoring platform with time-bound pushdown queries and AI-powered anomaly detection.
"We chose to reinvest in Lightup because of their exceptional ability to address the data quality problem, unlike any other company in the market. We believe they have demonstrated an unparalleled level of technical expertise, enabling them to address challenges of scale and complexity like no one else in their category," said Martin Casado, General Partner at Andreessen Horowitz. "Lightup knows how to forge partnerships with major enterprises, tirelessly working alongside them to solve problems incrementally until value is ultimately realized. Such unwavering dedication has become increasingly rare, and it truly sets the Lightup team apart."
Lightup is committed to helping organizations solve the hardest data quality challenges of scaling checks across petabytes of operational data and detecting silent data outages, data drift, and broken data in otherwise good data pipelines. To support end-to-end data operations, Lightup includes incident alerts, failed records for root cause analysis, dashboards for data quality insights, and workflow management integrations with third-party IT ticketing systems, alerting tools, and data catalogs. A portable application with a deep data architecture, Lightup is deployable in any cloud/multi-cloud, hybrid, or on-premises environment.
Lightup has gained notable traction in the market, reflected by its accelerated annual recurring revenue of nearly 5x year over year. Further proof of the power of its technology and the value provided to customers, Lightup has experienced impressive adoption rates by Fortune 500 companies, including McDonald’s, Gap Inc., and Skechers. According to Matt Sandler, Senior Director of Data and Analytics at McDonald’s, “Lightup has been a boon for us, enabling high-quality data monitoring while being performant in a cloud-native ecosystem.”
“At Skechers, one of our top priorities is to deliver reliable data and insights to our business users and decision-makers promptly,” said Manish Agarwal, Vice President, Data & Analytics, Skechers. “Thanks to Lightup's AI-based data observability and monitoring, we successfully streamlined our data quality and availability checks at scale, effectively meeting the demands of our growing business. This has not only strengthened data trust but also proactively mitigated data delays and anomalies, while simultaneously freeing up valuable resources and boosting the team's productivity.”
“Our Series A funding is an enormous validation that we are achieving our mission of ensuring the accuracy, reliability, and quality of our customers’ data at scale,” said Manu Bansal, CEO and co-founder of Lightup. “We are gratified by the endorsement from Andreessen Horowitz, Newland Ventures, and our other world-class investors; the funding will further accelerate and extend our development and delivery of even greater capabilities in the Lightup platform to streamline data quality processes and increase time-to-insight at 10x the speed of traditional tools, democratizing data quality checks across every vertical market worldwide.”
About Lightup
Lightup is a no-code data quality platform that enables enterprises to achieve 100% data quality coverage 10x faster than legacy tools. Lightup empowers data teams to proactively monitor data health at fine granularity and quickly pinpoint bad data flowing in good data pipelines to ensure reliable, accurate business-critical data and prevent costly data outages before they occur. Lightup is accessible across multi-cloud, hybrid, and on-premises environments for batch or streaming data and is scalable in minutes, not months. Founded in 2019, with headquarters in Mountain View, CA, Lightup is a private company backed by investors, including Andreessen Horowitz (a16z) and Newland Ventures. For further information, please visit www.lightup.ai, or follow us on Twitter and LinkedIn.
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