Monte Carlo Raises $60 Million for Data Monitoring

Business

Monte Carlo is an Israeli startup that helps customers monitor their data inflows, finding issues and errors that could foul downstream data analysis. Monte Carlo raised $60 million in a Series C round of funding led by ICONIQ Growth.

The raise brought the company’s total funding to date to $101 million.

Led by Barr Moses, CEO, Monte Carlo provides a Data Observability platform that the company says everages the best practices and principles of automatic application observability (think: Datadog or AppDynamics) and applies them to data pipelines, giving data engineers and analysts visibility across all data pipelines and data products. Simultaneously, its machine learning-powered platform provides data leaders and other data stakeholders with a holistic view of their company’s data health and reliability for critical business use cases.

“Monte Carlo’s Data Observability platform helps your team increase in trust in data by eliminating data downtime.”

Monte Carlo uses machine learning to infer and learn what your data looks like, proactively identify data downtime, assess its impact, and notify those who need to know.

Barr Moses said, “With this round, we will fuel the growth of the Data Observability category, further develop our product offerings to better serve our customers, support more use cases, and expand to new markets. Our Series C establishes us as the first Data Observability company to reach this milestone, a testament to our team’s industry-defining thought leadership, new product releases, and rapid customer growth.”

“In partnering with both Snowflake, the category creator in cloud data warehousing, and Datadog, the leader in application observability, we have witnessed firsthand how the power of innovative approaches to longstanding problems can transform industries and improve business outcomes. The issue of data downtime has been around for decades, but Monte Carlo is innovating in data reliability, bringing data teams a powerful solution to truly solve this hundred billion-dollar problem,” said Matt Jacobson, General Partner at ICONIQ Growth. “We believe the potential impact of this technology is enormous and Monte Carlo is blazing the path forward for the Data Observability category.”

“In partnering with both Snowflake, the category creator in cloud data warehousing, and Datadog, the leader in application observability, we have witnessed firsthand how the power of innovative approaches to longstanding problems can transform industries and improve business outcomes. The issue of data downtime has been around for decades, but Monte Carlo is innovating in data reliability, bringing data teams a powerful solution to truly solve this hundred billion-dollar problem,” said Matt Jacobson, General Partner at ICONIQ Growth. “We believe the potential impact of this technology is enormous and Monte Carlo is blazing the path forward for the Data Observability category.”

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