RelationalAI, a data-driven application development startup, has raised a $75 million Series B round of funding and added Bob Muglia, the former CEO of ex-Snowflake, to its board.
The round was led by New York City-based venture capital firm Tiger Global Management and included participation from existing investors such as Sutter Hill Ventures and 8VC.
The latest funding brings RelationalAI’s total financing to $96 million and will be used to expand its engineering team and accelerate product development.
The company’s platform combines an AI-powered database system with a knowledge graph that makes it easier for developers to build data applications more quickly.
“RelationalAI is bringing together two crucial technologies the transactional database and the AI-driven Knowledge Graph to make data more accessible, intelligent, and actionable for businesses around the world,” said Bob Muglia, the former CEO of ex-Snowflake in a statement. “The RelationalAI platform is well poised to capitalize on the growing demand for robust data solutions among global companies.”
The company was founded in 2019 by serial entrepreneur Mohan Venkataraman, who previously cofounded Clarisite, an artificial intelligence-based supply chain analytics provider which was acquired by dunnhumby (now part of The Kroger Co) in 2018.
According to Venkataraman, RelationalAI is filling an important gap in how data applications are built: “Data science today is stuck at 20% productivity due to disconnect between databases & AI models,” he said. “We have developed a new paradigm that can drive data science productivity > 5X. We are very excited about our progress & delighted to welcome Bob onto our board.’
The company’s platform has already been adopted by blue-chip customers such as Unilever and Twitter who use its knowledge graphs to build intelligent applications faster than ever before.
With major customers already on board, RelationalAI is looking forward to utilizing its new investment to further expand its customer base across various industries including finance, retail, healthcare, and more.
In addition to the Series B funding announcement, RelaticinalAI also announced that Bob Muglia will join the company’s Board of Directors along with other experienced advisors like William Chisholm from Sutter Hill Ventures and George Zachary from 8VC.
According to Venkataraman,” Bob provides us with invaluable industry insight into how organizations adopt technology at scale & we look forward to working closely with him as we enter this next stage of growth.”
The combination of powerful technology backed by experienced advisors set up RelationalAI for success as it looks forward to expanding its customer base even further around the globe while continuing its mission of transforming how businesses leverage their data assets through AI-driven solutions.
RelationalAI, which develops knowledge graphs for data-driven apps, raises a $75M Series B led by Tiger Global and adds ex-Snowflake CEO Bob Muglia to its board (Frederic Lardinois/TechCrunch)