Manta, a provider of cloud-based data management solutions, recently announced that it has raised $35 million in a Series B funding round led by Forestay Capital, with participation from existing investors. The funding will be used to accelerate Manta’s growth and expansion plans. manta 35m series capitalsawersventurebeat.
Manta was founded in 2013 in Bratislava, Slovakia, and has since established itself as a leader in data lineage and metadata management solutions. Manta’s platform provides organizations with a comprehensive understanding of their data and how it moves through their systems, which enables them to make better decisions and ensure compliance with regulations such as GDPR and CCPA.
The company has experienced significant growth in recent years, with its revenue increasing by more than 400% since 2018. This growth has been driven by increased demand for Manta’s solutions, as organizations have become increasingly aware of the importance of data management and governance.
With the new funding, Manta plans to expand its operations and accelerate the development of its platform. The company aims to strengthen its presence in key markets, including the United States, and to expand its customer base across industries such as financial services, healthcare, and retail.
In a statement, Manta CEO Tomas Kratky expressed his excitement about the funding and the company’s plans for the future. “We’re thrilled to have the support of Qumra Capital and our existing investors as we continue to build out our platform and expand our operations,” he said. “We believe that there is a tremendous opportunity in the market for data management solutions that can help organizations to unlock the full potential of their data, and we’re committed to delivering the best possible solution to our customers.”
The funding round comes at a time when data management is becoming increasingly important for organizations of all sizes and across all industries. As data volumes continue to grow and data privacy regulations become more stringent, companies are looking for solutions that can help them to manage their data effectively and comply with regulatory requirements.
Manta’s solutions address this need by providing organizations with a comprehensive understanding of their data and how it moves through their systems. This enables them to make better decisions, improve their operations, and ensure compliance with regulations.
In conclusion, Manta’s recent funding round is a testament to the company’s success and the growing demand for data management solutions. With the new funding, Manta is well-positioned to continue its growth and expansion and to help organizations across industries to unlock the full potential of their data.
