Berlin-based y42 (previously generally known as Datos Intelligence), an information warehouse-centric business intelligence service that guarantees to offer companies entry to an enterprise-level knowledge stack that’s as easy to make use of as a spreadsheet, at present introduced that it has raised a $2.9 million seed funding round led by La Famiglia VC. Additional traders embody the co-founders of Foodspring, Personio and Petlab.
The service, which was based in 2020, integrates with over 100 data sources, protecting all the usual B2B SaaS instruments from Airtable to Shopify and Zendesk, in addition to database companies like Google’s BigQuery. Users can then remodel and visualize this knowledge, orchestrate their knowledge pipelines and set off automated workflows based mostly on this knowledge (assume sending Slack notifications when income drops or emailing clients based mostly by yourself customized standards).
Like comparable startups, y42 extends the concept knowledge warehouse, which was historically used for analytics, and helps companies operationalize this knowledge. At the core of the service is loads of open supply and the corporate, for instance, contributes to GitLabs’ Meltano platform for building data pipelines.
“We’re taking the best of breed open-source software. What we really want to accomplish is to create a tool that is so easy to understand and that enables everyone to work with their data effectively,” Y42 founder and CEO Hung Dang informed me. “We’re extremely UX obsessed and I would describe us as no-code/low-code BI tool — but with the power of an enterprise-level data stack and the simplicity of Google Sheets.”
Before y42, Vietnam-born Dang co-founded a significant occasions firm that operated in over 10 nations and made thousands and thousands in income (however with very skinny margins), all whereas ending up his research with a concentrate on business analytics. And that in flip led him to additionally discovered a second firm that centered on B2B knowledge analytics.
Even whereas constructing his occasions firm, he famous, he was at all times very product- and data-driven. “I was implementing data pipelines to collect customer feedback and merge it with operational data — and it was really a big pain at that time,” he stated. “I was using tools like Tableau and Alteryx, and it was really hard to glue them together — and they were quite expensive. So out of that frustration, I decided to develop an internal tool that was actually quite usable and in 2016, I decided to turn it into an actual company. ”
He then bought this firm to a significant publicly listed German firm. An NDA prevents him from speaking in regards to the particulars of this transaction, however possibly you may draw some conclusions from the truth that he hung out at Eventim earlier than founding y42.
Given his background, it’s possibly no shock that y42’s focus is on making life simpler for knowledge engineers and, on the identical time, placing the ability of those platforms within the fingers of business analysts. Dang famous that y42 usually supplies some consulting work when it onboards new shoppers, however that’s largely to offer them a head begin. Given the no-code/low-code nature of the product, most analysts are capable of get began fairly rapidly — and for extra advanced queries, clients can decide to drop down from the graphical interface to y42’s low-code degree and write queries within the service’s SQL dialect.
Until elevating this round, Dang self-funded the corporate and had additionally raised some cash from angel traders. But La Famiglia felt like the precise match for y42, particularly because of its concentrate on connecting startups with extra conventional enterprise firms.
“When we first saw the product demo, it struck us how on top of analytical excellence, a lot of product development has gone into the y42 platform,” stated Judith Dada, General Partner at LaFamiglia VC. “More and more work with data today means that data silos within organizations multiply, resulting in chaos or incorrect data. y42 is a powerful single source of truth for data experts and non-data experts alike. As former data scientists and analysts, we wish that we had y42 capabilities back then.”
Dang tells me he might have raised extra however determined that he didn’t wish to dilute the group’s stake an excessive amount of at this level. “It’s a small round, but this round forces us to set up the right structure. For the series, A, which we plan to be towards the end of this year, we’re talking about a dimension which is 10x,” he informed me.