Spreading unbacked information online can get you a few nasty comments, but if an enterprise were accused of spreading fake news, it could potentially cost them customers, which hurts the business’s bottom line. Monte Carlo, an Israeli-American data observability platform, secures a $25 million Series B funding round, led by GGV Capital and Redpoint Ventures. Accel, who led the Seed and Series A rounds, also got in on the action, along with DJ Patil (former U.S. Chief Data Scientist), and executives from Google, eBay, Cloudera, and VMWare. To date, the company has raised $40 million.
So you don’t use false data
Monte Carlo’s monitoring platform enables data engineers and analysts to continuously examine the reliability of an organization’s data assets, throughout the data supply chain. The company uses the term “Data Downtime”, explaining that these are the moments where dashboards go into chaos, resulting in ML models trained on false data, or contaminating analytics with fake insight. The system alerts data teams to any reliability issues, prior to false data spreading throughout the organizational pipeline.
The Israeli company lists a few key market players among its customers, including Airbnb, Compass, Mindbody, Eventbrite, and Hippo, computing over 20 petabytes a day for these companies. Monte Carlo reports a successful 2020, doubling revenue in each quarter.
Monte Carlo was founded in 2019 by CEO Barr Moses, who’s based in the company’s U.S. headquarters. In Israel, the company keeps its technology, with an R&D center headed by Uri Shahar, former Riskified CSO.