BMW i Ventures invests in automated data quality platform
BMW i Ventures is the lead investor in Qualytics, an enterprise platform for automated data quality, with a $10 million oversubscribed Series A funding round.
“As enterprises rapidly expand their data-driven operations and AI initiatives, the need for trustworthy data is critical,” a press release states.
BMW says there are currently two urgent challenges — ensuring reliable data to fuel AI and analytics, and democratizing governance across organizations.
“Qualytics addresses both by delivering a deeply automated, intelligent platform that profiles data to support deep learning at scale, automatically infers and evolves quality rules, and streamlines remediation — all with minimal setup and maximum usability across teams,” the release states. “Where legacy solutions depend on complex rule-writing and siloed ownership, Qualytics replaces friction with automation — enabling technical and business teams to co-own data quality at scale, and delivering the enterprise-grade resilience needed to mitigate costly breakdowns that cost organizations an average of $12.9 million annually.”
Gartner predicts that 70% of organizations will adopt modern data quality tools by 2027, according to the release.
Conductive Ventures and The Hill Fund by Firebrand Ventures, Tech Square Ventures, Knoll Ventures, Inner Loop Capital, SaaS Venture Capital, and Rich Family Ventures are also investors in the round of funding.
“At its core, Qualytics solves a problem every data-driven organization thinks it’s managing, until the costs of bad data hit,” said Baris Guzel, BMW i Ventures partner, in the release. “The dirty secret in today’s AI arms race is that most models are trained on unreliable inputs. Garbage in, garbage out. Qualytics flips that on its head. They bring continuous, automated data quality monitoring to the production layer and that’s a foundational shift. We’ve seen this movie before: cloud migration, observability, DevOps. The winners are the ones who instrument complexity without slowing velocity. Qualytics does just that for data quality. The team is technical, focused, and early in a massive wave. We’re thrilled to back them.”
Qualytics recently signed one of the top three U.S. financial institutions, reinforcing its position as the trusted data quality platform for large, data-driven enterprises, according to the release.
“Working closely with large enterprises has shaped our product into one that’s scalable, flexible, and built for collaboration,” said Gorkem Sevinc, Qualytics co-founder and CEO, in the release. “Eric [Simmerman] and I built the platform we always wanted in our own careers, one that puts automation and usability at the heart of data quality management. With this new investment and our strong revenue growth, we’re more confident than ever that Qualytics is delivering what modern data practitioners truly need to manage data quality at scale.”
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Featured image provided by BMW i Ventures