Astronomer, the developer of data orchestration platform Astro, locked up a $93 million Series D led by Bain Capital Ventures.
The round, in which no valuation was announced, also included investment from Salesforce Ventures1
and existing investors including Insight Partners, Meritech and Venrock.
The New York-based startup’s Astro platform has proven valuable as AI has exploded — as automating and processing data workflows across different systems has become a necessity for anyone wanting to produce AI applications.
Astronomer said it’s experiencing 150% year-to-year annual revenue growth and has a two-year path to profitability.
“While this is just one step in Astronomer’s journey to build a durable, lasting software company, we’re thrilled to have one of our earliest investors, Bain, leading the round,” said CEO Andy Byron in a release. “All of our investors are committed to Astronomer’s long-term vision because of our recent momentum, the massive market demand for the platform we’re building, and the macro tailwinds that support our vision.”
Founded in 2018, the company has raised nearly $376 million, per Crunchbase.
AI dollars
Astronomer’s round is just the latest large deal in the sector as big money continues to pour into AI. Per Crunchbase’s global funding report, AI was the leading sector for venture funding in the first quarter, with $59.6 billion invested. The first quarter marked the strongest quarter for AI funding ever, with an astonishing 53% of global funding going to the AI sector alone.
Related Crunchbase Pro query:
Related reading:
Illustration: Dom Guzman
Stay up to date with recent funding rounds, acquisitions, and more with the
Crunchbase Daily.
