This is a story about progress, collaboration, and dedication to solving a big problem. It’s about all of us at Coalesce—our hardworking team, partners, and customers. And it’s about the positive impact we’re focused on making for the entire data ecosystem.
For years, data transformation at scale was an unrealized promise in our industry, limiting growth at enterprises around the world. We founded Coalesce in 2020 to change that. Through hard work, focus and determination, and invaluable feedback from our customers and partner ecosystem, we’ve built technology that changes the game for data practitioners and business leaders. We’re on a mission to help enterprises unlock their data and derive maximum value from it.
With our Series B announcement of $50 million in funding, we’re continuing that mission.
We’re gratified to have the continued support of our lead Series A investor, Emergence Capital, as well as Industry Ventures, who had participated in that round with the intention to lead our Series B. Having monitored our company’s growth and our ability to exceed targets every quarter over the past 18 months, Industry Ventures confidently led our Series B alongside Emergence and some illustrious newcomers, including Saad Siddiqui of Telstra Ventures, who is joining as a board observer, and Bob Muglia, the former CEO of Snowflake. We’re also thrilled to welcome on board Snowflake Ventures, who invested in Coalesce after experiencing firsthand our growth and traction in the Snowflake ecosystem—the true mark of evangelism.
The round is a testament to our product, team, and vision. It’s also a strong statement about our staying power and an indicator of trust going forward, validating our work and illustrating the industry’s confidence in our future.
That said, we are keenly aware that we are living through a particularly challenging time in the tech industry. We’ve seen many startups fold over the past 18 months, and we’re both proud and humbled to have closed this significant round during such a turbulent time.
But we’re not celebrating just yet—there’s still work to be done. With this funding, we hope to forge a new path forward and inspire others along the way.
We remain committed to what’s most urgent: solving the biggest problems in our industry with dependable, high-performing products. We’ve recruited, trained, and nurtured some of the brightest minds in the data space, and we’re proud to have these people join the Coalesce team and community.
Without the contributions of a vast pool of talented individuals, Coalesce wouldn’t be where we are today. And I’d be remiss if I didn’t express my gratitude and appreciation to our earliest customers, whose feedback has been invaluable. They’ve helped us continually improve our platform to optimize the work of their data teams on Snowflake’s Data Cloud so they can take full advantage of all the innovation it has to offer. And, of course, we couldn’t have done this without our partner ecosystem, which has been strongly aligned behind the power of Snowflake from the beginning.
We’re delivering on our promise to make transformations easier. As a result, our business has grown more than 4x in the past 12 months. With our Series B funding, we’ll sharpen our focus on the foundational pieces that have driven our success. We’ll continue to develop a product that is a joy to use, improve the customer experience, give our staff more runway to do what they do best, and get our product in front of more people who can benefit from it. It’s simple but transformative.
Since we launched in 2020, we’ve heard it all. We’ve been told we’re too small. Some said that working exclusively in Snowflake is too narrow. And we’ve heard people suggest that the problems we’re tackling are too difficult or that the market was too saturated. Yet, in our eyes, our focus is our greatest source of strength. We’ve remained a small team so we can stay nimble, focused, and close to our roots. We work with Snowflake because we believe in its platform. And we work with enterprises because we believe they are positioned to make waves across their industries.
With a profound conviction that we’re all in it together, we are charting an exciting path forward. There’s still a lot to do, but with the continued support of our investors, customers, collaborators, and partners, we know there is a bright future ahead of us—which we share with you. Thanks for being here.
