Adviser to Octopus Ventures on a $15.9 million Series A funding round for VaultSpeed
About the Parties
VaultSpeed, the automated data transformation company, announces that it has secured $15,9 million (€ 15,1 million) in Series A funding. This funding round is led by Octopus Ventures, one of the largest and most active venture capital investors in the UK and Europe, with additional participation from the current lead investor Fortino Capital, PMV, and BNP Paribas Fortis Private Equity. Following two consecutive years of triple-digit revenue growth, VaultSpeed intends to use the proceeds to further expand its strong international presence with a particular focus on the UK and US market and platform automation capabilities.
As more and more enterprise companies move their data to the cloud for faster analytics and data-driven decision-making, data teams are faced with the problem that without automation, it becomes nearly impossible to transform and integrate multi-source data on time, without compromising on quality or quantity. According to market research by Gartner, Worldwide Public Cloud End-User Spending will grow 17.5% to $725 billion by next year. Spending on cloud infrastructure represents the fastest growing market segment.
Launched in Belgium four years ago with seed investment from the Cronos Group and Fortino Capital, VaultSpeed has redesigned data transformation. It not only handles data complexity through transformation but also consolidates the data into a comprehensive target data model, allowing data engineers to customize it according to their requirements in a matter of days and weeks as compared to traditional methods.
VaultSpeed is already offering its automation solutions to global enterprises, particularly in finance, healthcare, and utilities sectors. The company has established strategic partnerships with Snowflake, Microsoft, and Databricks, and has developed a network of over 30 service partners to serve clients on a global scale.
Dan James, Director at Wilson Partners commented: “We were delighted to continue our support of Octopus’ investment activity with this funding round for VaultSpeed, an exciting high growth data transformation platform. Octopus’ deep sector focus makes them an ideal partner to support the next growth phase.”
Click HERE to download case study.
"Data warehouse automation is rapidly replacing conventional approaches to data warehouse creation which are becoming ineffective and obsolete. VaultSpeed have developed a no-code automation platform that we consider to be a best-in-class solution to address modern data engineering challenges, which often requires an ability to execute business intelligence or analytics projects in a matter of hours rather than months. We are delighted to partner with Piet and Dirk who have executed well on their vision for their solution to date and are confident that we can help them accelerate their ambitious international expansion plans."
Paul Davidson, Partner,
Octopus Ventures