Select Star Raises $15 Million in Series A Funding Led by Lightspeed Venture Partners

Rhea-AI Summary

Select Star, a data discovery and governance platform, announced it has closed a $15 million Series A funding round led by Lightspeed Venture Partners, with participation from Bowery Capital, Sozo Ventures, and Pebblebed. Founded in 2020, Select Star provides a unique solution for multi-cloud data management, helping organizations understand and utilize their data effectively. Since its launch in November 2021, the company has seen accelerated growth, serving clients like Pitney Bowes and Fivetran. The new funding will enhance R&D and business development efforts to expand its customer base.

Positive

• Closed a successful $15 million Series A funding round.
• Attracted investments from notable firms like Lightspeed Venture Partners.
• Existing customer base includes reputable companies such as Pitney Bowes and Fivetran.
• The platform automates data discovery and governance, enhancing user adoption and satisfaction.
• Plans to utilize funds for R&D and expanding business development efforts.

Negative

• None.

Cloud-Native Data Discovery Technology Helps Companies Find, Understand & Use Organization Data

SAN FRANCISCO--(BUSINESS WIRE)-- Select Star, the fully automated data discovery and governance platform for the modern data stack, today announced it closed a $15 million round of Series A funding led by experienced Silicon Valley investors Lightspeed Venture Partners. Other venture investors including Bowery Capital, Sozo Ventures, and Pebblebed have also invested in this round.

As companies move to the cloud, data discovery, catalog, and lineage become increasingly important to harness the sprawl and mayhem of cloud data systems. Collecting and analyzing metadata and logs can dramatically help users understand the most popular and trusted data sets. Select Star provides a single platform for data discovery and lineage over multiple platforms and clouds, providing a unique solution for the multi-cloud world. The platform leverages deep analysis of metadata and logs (active metadata) across the data lifecycle to provide complete context of data being used by the organization.

“The modern data stack has democratized data creation and consumption, and sophisticated organizations need a data discovery and governance tool that can keep up. Select Star is that product,” said Nnamdi Iregbulem, Partner at Lightspeed Venture Partners.

Select Star founder and CEO Shinji Kim was previously CEO and founder of Concord Systems (acquired by Akamai Technologies in 2016). She led the building of Akamai's new IoT data platform for real-time messaging, log processing, and edge computing for automotive, manufacturing and consumer electronics industries. Shinji has leveraged her deep understanding of problems in the modern data ecosystem; specifically, the problems enterprises face in building an effective data management discipline with disparate data sources, at Select Star. Founded in 2020, Select Star is a fast-growing company solving the next-generation data governance and data management challenges for data consumers and producers. Today Select Star is provided as a secure, easy-to-use SaaS platform.

“With this new round of funding, we’re excited to continue to invest in our R&D efforts and bring innovative approaches to data management,” said Shinji Kim, Select Star founder and CEO. “Furthermore, it will allow us to accelerate expanding our business development efforts, helping us to reach new customers and drive growth for our company.”

Since the General Availability of Select Star in November 2021, Select Star has seen accelerated growth in its customer base. From traditional manufacturing companies like Pitney Bowes (NYSE: PBI) to fast-growing data integration platforms like Fivetran who use Select Star to create a complete inventory of all data assets, models, and business metrics with auto-generated context.

“While many tools expect the data team to perform heavy configuration to make them useful, Select Star, compared to other data platforms, features full automation built in the platform to ensure a smooth setup and the ability to get useful insights from the platform right away,” said Veronica Zhai, Director of Analytics Product and Operations at Fivetran. “Select Star is simple, easy to use, and it just works.”

About Select Star

Select Star is a fully automated data discovery platform that helps everyone find, understand & use company data. You can understand column and table-level relationships in seconds with data lineage, catalog, and automated documentation. By implementing Select Star, companies can create a system of record for all the data across their company and teams. Headquartered in San Francisco but highly distributed across the globe, Select Star is a fast-growing Series A funded startup with leadership from Akamai Technologies, Cloudera, Snowflake and Altman Solon backed by Lightspeed Venture Partners, Bowery Capital, and Sozo Ventures.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230131005354/en/

Sean Anderson

Select Star

sean@getselectstar.com

Source: Select Star

FAQ

What is the purpose of Select Star's recent $15 million funding round?

The funding will enhance Select Star's R&D efforts and enable expansion into new customer markets.

Who led the Series A funding for Select Star?

Lightspeed Venture Partners led the $15 million Series A funding round for Select Star.

Since when has Select Star been operational?

Select Star was founded in 2020 and became generally available in November 2021.

Which notable company is using Select Star's platform?

Pitney Bowes is one of the notable companies utilizing Select Star's data discovery platform.

What features does Select Star offer for data management?

Select Star provides automated data discovery, governance, and context for data assets across multiple platforms.