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Cincinnati, Ohio-based data observability and traceability platform Pantomath today announced it has raised $14 million in a Series A round led by Sierra Ventures with participation from Bowery Capital and Epic Ventures.
According to founder and CEO Somesh Saxena, the new capital will be used to expand Pantomath’s platform and workforce, with a focus on hiring across engineering, product, customer success, marketing and sales divisions.
“Organizations continually strive to be more data-driven, building reports, analytics and data pipelines into a modern data stack,” Saxena said. “Unfortunately, most people struggle with data reliability issues, leading to poor business decisions and a lack of trust in data as an organization – which directly impacts their profits. Solving complex data problems is a manual and time-consuming process that involves multiple teams relying on tribal knowledge to manually reverse engineer complex data pipelines across different platforms to identify the root cause and understand the impact.
He is not wrong. According to a recent Censuswide survey, 45% of data leaders have experienced a data pipeline failure 25 times in the past two years, primarily due to poor data quality or errors that were discovered too late. Of those 45%, 63% said their customers’ experience was impacted by failures.
Saxena founded Pantomath in March 2022, after leading various big data and analytics efforts within GE Aerospace. At Pantomath, he hoped to create a data pipeline observability and traceability platform that could automate aspects of data operations while improving reliability.
Today, Pentomath provides a way for organizations to detect data quality issues through alerts, troubleshoot with logs and autonomous impact analysis, and identify and resolve the root cause of problems.
It may look like other data visualization platforms available in the market. For example, see Observe, which recently raised $50 million in debt; Y Combinator supported metaplane; exceldata; and Manta, which last year secured $35 million to expand its workforce and data observation tooling.
But Saxena says pantomath is different.
“Other data visualization solutions focus only on monitoring issues such as data quality, data volume, and data freshness within datasets,” he said. “Pantomath, on the other hand, continuously monitors in real time both the jobs and datasets that make up a data pipeline across different data platforms, in the context of all the data pipelines those jobs and data sets are a part of, so that users can accurately So that we can know what is broken, where it is broken and why it is broken.”
To what extent this is true is not entirely clear to this reporter. But, for what it’s worth, Pantomath seems to be winning over both investors and customers – at least the way Saxena tells it.
“we have [ten] “Customers range from small and medium-sized and mid-market companies to large enterprises and the Fortune 500,” he said. Some of Pantomath’s more notable clients include Paycor, Lendleigh and G&J Pepsi-Cola Bottlers. “Additionally, given the high demand the company is experiencing, Pantomath currently has a waiting list with several Fortune 500s.”
It probably helps that investors are bullish on observability. In a one-week period last year, three companies in the data observation space raised more than $400 million. And according to 650 Group, the observation market is projected to grow from $278 million in 2022 to $2 billion by 2026.
Pantomath hasn’t quite reached those heights yet – it has raised a total of $18 million in venture capital to date. But every startup has to start from somewhere.
