Big data observability startup Onum said today it’s ready to accelerate its ambitious growth plans after closing on a $28 million early-stage round of funding.
The Series A round was led by one of Europe’s top specialist business-to-business software investors, Dawn Capital, and saw participation from Kibo Ventures and Insight Partners. It comes less than a year after the company’s official launch in 2023.
The startup, officially known as Signalit Technology S.L., has built what it says is a more efficient and intelligent data observability platform that’s designed to give companies more control over their data, ensuring real-time observation and orchestration, while reducing the amount of information that needs to be sent to their data analytics platforms.
Onum lists benefits such as data reduction, data management, data exfiltration and real-time data enrichment as the main use cases supported by its technology. In a nutshell, businesses can use it to identify and extract the most important data they generate through their daily business operations and send it to the most appropriate analytics platform where it can be put to good use.
It works in real time, essentially separating the valuable data from that which is far less useful, meaning companies can achieve big savings on the costs of storing and analyzing information that provides them with little benefit. In this way, Onum claims, it also helps data analytics platforms run more efficiently, resulting in improved time to value.
Onum said it uses artificial intelligence algorithms that observe data as it flows through the pipeline, quickly identifying the most critical business information that drives value for organizations. Its platform is easily deployed via an application programming interface, and is compatible with any data analytics tool and storage platform. What this means is it can help to pool data from multiple sources, in any format, then separate the wheat from the chaff, making only the “good” data available to the systems that matter.
The platform also helps users to keep track of where their valuable data is coming from, with a graphical, color-coded interface that visualizes their entire data environment.
Dawn Capital Partner Henry Mason said the main advantage of Onum’s platform is that it helps businesses to bring order to their sprawling and constantly growing data estates. “Onum can help businesses finally realize the enormous value of their data in real time,” he added.
Onum co-founder and Chief Executive Pedro Castillo said the size of the company’s Series A round reflects both the value of its product and the urgency of the problem it’s trying to solve, as the amount of data businesses have to deal with grows exponentially with each passing year.
“This capital injection will fire us forward on our rapid growth trajectory, enabling us to cater to growing demand, bolster R&D and scale our go-to-market capabilities globally,” Castillo said. “Most importantly, these new funds will accelerate our ability to deliver even more value to more customers, helping them capitalize on their data in new, sophisticated ways that were never previously possible.”
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