Ohio-based company located in Cincinnati In a Series A round-headed by Sierra Ventures and including Bowery Capital and Epic Ventures, the data observability and traceability platform Pantomath said today that it had secured $14 million.
Somesh Saxena, founder and CEO of Pantomath, said the additional funding would increase the company’s platform and personnel, particularly focusing on recruiting across the engineering, product, customer success, marketing, and sales divisions.
“Organizations continuously strive to be more data-driven, building reports, analytics, and data pipelines across the modern data stack,” Saxena added. “Unfortunately, most suffer from data dependability concerns, which can result in subpar business choices and a lack of faith in data as a whole, both of which hurt a company’s bottom line. The human reverse engineering of complicated data pipelines across several platforms to determine the root cause and comprehend the consequences is a labor-intensive and time-consuming procedure that involves numerous teams.
He’s not mistaken. In the last two years, 45% of data executives reported data pipeline failures up to 25 times, mostly due to poor data quality or mistakes that weren’t caught in time, according to a recent Censuswide study. Of those, 45% claimed that the failures negatively impacted their clients’ experience.
After overseeing multiple big data and analytics initiatives inside GE Aerospace, Saxena started Pantomath in March 2022. With Pantomath, he aimed to create a platform for data pipeline observability and traceability that would enhance dependability while automating some data activities.
Currently, Pantomath allows businesses to monitor warnings for data quality concerns, troubleshoot with logs and autonomous impact evaluations, find the issue’s main cause, and fix it.
That could seem very similar to the plethora of other data observability systems available. See, for instance, Observe, which just obtained $50 million in debt; Metaplane, supported by Y Combinator, Acceldata, and Manta, which just received $35 million to expand its personnel and data observability capabilities.
However, Pantomath is unique, according to Saxena. According to him, other data observability solutions pay attention to data quality, keeping tabs on data volume and freshness inside datasets. On the other hand, Pantomath continuously tracks both jobs and data sets in real-time that comprise a data pipeline across various data platforms, all in the context of the data pipelines those jobs and data sets are a part of, so users know exactly what’s broken, where it’s broken, and why it’s broken.
This writer is unsure of the exact extent to which such is the case. From what Saxena reports, Pantomath appears to be attracting investors and clients.
We have ten customers, he continued, “from small and medium-sized businesses to large corporations and Fortune 500s.” Paycor, Lendly, and G&J Pepsi-Cola Bottlers are just a few of Pantomath’s more noteworthy clients. In addition, considering the enormous demand the business is experiencing, Pantomath now has a waiting list that includes numerous Fortune 500 companies.
Investors’ positive outlook on observability probably helps. Three businesses in the data observability industry raised more than $400 million in a week last year. Additionally, 650 Group predicts that the observability market will grow from $278 million in 2022 to $2 billion by 2026.
Pantomath has only successfully secured $18 million in venture funding, falling short of those legendary heights. But every new business must get off the ground.