Tallinn-based Alvin, a data genealogy platform, announced on Wednesday that it has secured $6M (about €6.1M) in a seed round of funding led by Project A Ventures.
Other participating investors include Icebreaker.vc, Nomad Capital, and angel investors Chris Shagen (former CMO of Contentful), Nick Handel (CEO and co-founder of Transform), and Ragnar Saas (co-founder of Pipedrive).
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Alvin says the capital will be used to guide the engineering team on its roadmap and implement its strategy to go to market.
In addition to the funding, the Estonian company also announced the launch of its platform after a successful beta phase, offering a toolkit to test code, detect errors and identify inefficiencies.
Alvin: What you need to know
Dan Mashiter and Martin Sahlen founded Alvin in 2018, recognizing that companies no longer compete on how much data they collect and store, but rather on the quality and leverage of it. The company’s mission is to enable teams of all sizes to improve the quality and usability of their data.
“Businesses are focusing precisely on how much data they collect and store on its quality, availability, usefulness, and ROI,” says Mashiter.
Alvin has built a plug-and-play SaaS platform that provides a toolkit to help data teams improve their data quality and lower costs. The platform enables data teams to automatically map their entire data architecture and how data is connected, transformed and consumed.
Alvin’s core technology automatically builds and maintains highly accurate graph datasets representing columns, tables, dashboards, connections between SaaS platforms and people.
“By automatically mapping data flow within systems and across the business and how it is consumed across the business, Alvin is building the operating system for the modern data stack. Alvin allows data teams to measure those key metrics And gives them the tools to improve upon which they will now be judged and ultimately maximize their impact,” Mashiter says.
The platform enables teams to locate and address pipeline errors/bugs using datasets, reducing data downtime. It also automates regression testing, providing a detailed report of downstream impact before code deployment.
Additionally, it optimizes costs by identifying unused assets and pipelines and removing them safely.
Alvin claims it has expanded its beta waiting list to 400+ companies and has already secured its first commercial contract, including fintech Quanto.
Project A: What you need to know
Project A is a European venture capital company with offices in Berlin, Munich and London.
In addition to $600M in assets under management, Project A has its portfolio of companies with a team of over 110 in-house experts in disciplines such as software and product development, business intelligence, brand, design, marketing, CRM, sales, enterprise development supports. , or recruitment.
Uwe Horstmann, General Partner at Project A, says, “Alvin is going to make the lives of everyone handling big data a lot easier. Martin and Dan have a proven track record in data-driven companies, and they have helped companies use data. Has built a great system to help detect, analyze, and control more effectively.”
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