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Letter From the CEO: $26M Series A Funding


Kaycee Lai

CEO & Founder

Promethium

Year Founded: 2018


At Promethium, we are very proud of what we have already accomplished and we are excited to continue building and scaling our next-generation collaborative analytics platform for business users and data teams. That’s why I’m honored to announce that we have recently completed a $26 million Series A funding round led by Insight Partners, with participation from existing backers .406 Ventures and Zetta Venture Partners.


Our mission is to help every company enable their employees to be data-driven by removing friction at every step in data and analytics. The explosion of cloud and SaaS has created even more data silos and the lack of holistic solutions to get from question to data to answer without changing tools is exactly why we’ve spent the past three years building a turn-key, complete collaborative analytics platform.


Data Isn’t Easy To Use, So People Aren’t Using It


The data and analytics market today is overcrowded with tools for data discovery, preparation, pipelines, movement, transformation, visualization and insights. But they only make the problem worse with a brittle mix of tools that require switching and handoffs to specialist users. The result is a slow and unsustainable process that leaves the business waiting months.


It was when I worked as a data analyst that I first experienced that the workflows were slow and broken. I then experienced the problems again at Waterline Data where I noticed many of our customers were hoping a data catalog would make data easier to use, but what they found was that a data catalog wasn’t enough. I also noticed that there wasn’t one single solution that made it faster and easier for everyone - technical or not - to leverage data.


Taking everything I learned we built the Promethium collaborative analytics platform for business users and data teams. We put the entire data and analytics workflow into one solution, added intelligent automation, and made it possible for everyone to get from question to data to answer in minutes instead of months.


Our early customers have shown us that it is entirely possible for everyone, not just technical data engineers or analysts, to quickly find, prepare and visualize data to make data driven decisions on their own–all without writing a single line of code. By democratizing these capabilities, every business can alleviate repetitive time-consuming tasks and align on trusted business metrics—no matter the system they choose to report them from.


We proved that when you make data easier to use, more people will make data driven decisions for your business. In the past year 16,642 data driven answers have been created with Promethium.


This is just the beginning for Promethium


In a few short years we have built an incredibly innovative full featured solution that erases data friction and slashes the time it takes to answer questions with data from months to minutes. We have built an incredible team and have been adopted by some of the world's most recognized brands.


The Series A funding gives us the ability to build on the tremendous momentum we built in 2021, a year in which we were recognized by analysts and industry awards alike, including:

  • CRN Emerging Vendors 2021

  • Big Innovation Award 2021

  • 2021 SIIA CODiE Finalist

  • AI Excellence Award 2021

  • CRN Big data 100 list

  • IDC Innovator

  • Best New Product: CDO Recommended, 2021

We will use the funding to scale new customer growth by building our sales and marketing efforts, and continuing to innovate our products, which are already being used by leading enterprises around the world.


This is also great news for our customers. As we grow and mature our platform, we’ll continue to add time saving automation and eliminate data management and analytics complexity.


Thank you to everyone on the journey with us, including our incredible team, our board of advisors, our partners, and most importantly, our customers! This has been an incredible ride so far, and there is a lot more coming this year.


Reimagine data analytics with us


If you’re passionate about making data easier to use so that everyone can make data driven decisions with ease, get your free Promethium account or schedule a demo today!


And if you believe in our mission and want to help us reimagine data analytics, we invite you to join our team!


Kaycee Lai

CEO & Founder

Promethium


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