The round was led by Riverwood Capital with participation from new investors Sanabil Investments and Snowflake Ventures. Existing investors Costanoa Ventures, Dell Technologies Capital, Icon Ventures, Salesforce Ventures, Sapphire Ventures, and Union Grove Partners also contributed to the round. Total funding raised stands at $217 million. Alation's current market valuation is $1.2 billion.

Alation is the leader in enterprise data intelligence solutions including data search & discovery, data governance, data stewardship, analytics, and digital transformation. Alation's initial offering dominates the data catalog market. Thanks to its powerful Behavioral Analysis Engine, inbuilt collaboration capabilities, and open interfaces, Alation combines machine learning with human insight to successfully tackle even the most demanding challenges in data and metadata management. More than 250 enterprises drive data culture, improve decision making, and realize business outcomes with Alation, including AbbVie, American Family Insurance, Cisco, Exelon, Finnair, Munich Re, New Balance, Pfizer, Scandinavian Airlines, and US Foods.