Managing and interpreting data requires time, and the French company Castor deals with the subject. Recently, A data catalog startup, Castor gets $23.5M to expand its platform
So, let’s have a look at all the updates.
A Data Catalog Startup, Castor, Gets $23.5M to Expand its Platform
The French company provides its clients the full visibility and protection of valuable data. In addition, it makes the data interpretation easy and boosts growth. The Blossom group raised the funding, and the innovative ideas of the Castor group helped it bag $23.5M funding.
It was a Series A funding in which angel investors look for future-proof and innovative ideas. The Series A round saw participation from previous investor First and Florian Douetteau, angel investor and founder of Dataiku.
Castor’s Plan
CEO of Castor Tristan Mayer said that this raised amount would be used to expand the company’s goals. Mainly it will be used to develop 25 personal teams they have, marketing and sales departments.
This funding is a great advantage for the company, and the startup is constantly planning to take the technology and its services. As a result, the workforce has the skills to become Data scientists. It deals with metadata, data management, and search tools designed to help users find the data they need.
Castor plans to utilize the new funding to expand its sales and marketing teams in the US. It also plans to use the funding to build its platform’s AI capabilities further. With a 40 percent month-on-month increase in its US customer base, the startup has found a partner with a proven track record of investment and expansion in the US to implement its operations.
Investors
The Series A fund round was led by Blossom Capital, an early-stage venture capital from London. They are looking for innovative European minds who can launch new ideas globally. The firm was established in 2018 and invested in unicorns in the US and Europe.
Blossom partner Imran Ghory said that when we met Tristan, Xavier, Amaury, Arnaud, and the team of Castor, we knew that they were the one. Future technology and companies will need better use of data, and Castor is on the right step.
Everything About Castor
Mayer established Castor in 2020 with Xavier de Boisredon, an ex-data scientist at Ubisoft. They built data catalog software and initially attempted to sell it to the heads of data at Payfit and Qonto — Arnaud de Turckheim (Payfit) and Amaury Dumoulin (Qonto). But Dumoulin and Turckheim, sensing a bigger opportunity, chose to quit their jobs and unite with de Boisredon and Mayer in co-launching Castor.
In an interview, the mayor said, “We’re on a mission to help people find, understand, and use data” “Thanks to increased automation, Castor makes it easier to bring together the context needed to understand data. As a result, we empower people to build a collaborative data culture.”
Castor provides data discovery tools aspired to help users comprehend the context around data. Targeting use cases like streamlining data compliance projects and cloud migration, Castor connects to cloud data warehouses including Snowflake, BigQuery, Redshift, and business intelligence tools such as Looker, Tableau, and Metabase. In addition, it automatically creates and updates documentation that any workforce can refer to when they have data-related questions.
In the country, various State departments are hiring data scientists for their skills; data management is the future tech. So, keep reading for all the latest developments in this news!