Soda, the AI-enabled data quality company, announced it has secured $14 million investment from strategic partners and existing investors including Singular and Point Nine—enabling the company to continue its expansion across North America.
The additional investment also empowers Soda to continue building a sustainable business model where company and market growth are tightly aligned, and further build Soda’s global team, significantly expanding its New York city headquarters with experienced go-to-market talent to continue its growth in North America.
Bolstered by technologies such as artificial intelligence (AI) which is expected to contribute up to $15.7 trillion to the global economy by 2030, the market for solutions that can deliver trusted data is stronger than ever. Soda is answering this demand with a practical, low-friction approach that means everyone inside a business can work with reliable, high-quality data, according to the company.
The company has already made investments in becoming a GenAI-first platform, pioneering the use of GenAI for data quality testing with the introduction of SodaGPT in 2023, and continuing to release new AI features under the recently announced Soda AI umbrella.
Soda AI is a growing suite of data quality tools designed to increase productivity which includes SodaGPT, Anomaly Detection, and OpenAI Assistants.
The company boasts extensive global community support, fueled by the release of Soda Core in 2020, its OSS tool that helps thousands of data teams test data and prevent data issues.
Soda has since expanded this offering to data observability to provide customers with a last line of defence to detect issues in production and improve the time to debug and resolve issues.
Over the past year, Soda has also pioneered the creation and adoption of data contracts, making it easier for data teams to manage the data they publish as an API, just like they would in software engineering.
The next step for the Soda platform will focus on integrating AI into the workflow of data engineers to suggest and automate testing and observability for the data layer, according to the company.
“Over the past 12 months, Soda has charted a course to financial self-sustainability which has been reliant on a world class team, valued and active support from a global community of users, and an unwavering vision to democratize data quality,” said Maarten Masschelein, CEO, Soda. “It’s been a challenging year for a lot of technology companies, which is why we are proud to have achieved self-sustainability whilst keeping our team intact. We now welcome this additional funding support to give us the strongest possible platform to capitalize on the huge investment in AI which has highlighted the critical value of data quality.”
For more information about this news, visit www.soda.io.