Onum Secures $28 Million To Help Businesses Derive Greater Value From Their Data at Lower Costs

Onum, a data observability platform, has raised $28 million in Series A funding to accelerate its ambitious hiring plans, allow it to continue developing its products, and fuel its expansion into new territories.

The Madrid-based company helps businesses remove noise from their data, allowing them to extract more value from their data at lower costs. It enables organizations to have more control over their data, including real-time data filtering, data reduction, data management, and data exfiltration. These processes help businesses identify and extract the most important data from their daily operations and send it to the appropriate analytics platform.

With timely access to more meaningful data, organizations can make informed decisions about their cybersecurity, infrastructure management, and network performance. It also helps them manage their costs and optimize data storage and analytics.

The early-stage round of funding was led by Dawn Capital, with participation from Kibo Ventures and Insight Partners. Dawn Capital is one of Europe’s leading B2B software investors, with total commitments of over $2 billion. The latest round of funding comes only a year after Onum was officially launched in 2023.

“This capital injection will fire us forward on our rapid growth trajectory, enabling us to cater to growing demand, bolster R&D, and scale our go-to-market capabilities globally. Most importantly, these new funds will accelerate our ability to deliver even more value to more customers, helping them capitalize on their data in new, sophisticated ways that were never previously possible.” said Pedro Castillo, Co-Founder and CEO, Onum.

Commenting on the Series A funding, Castillo shared that the size of the round reflects “the value of its product and the urgency of the problem it’s trying to solve”, and the growing data volume will only increase the demand for such a solution.

Onum claims that its observability and orchestration platform is helping customers slash infrastructure costs by as much as 80%. Now with the fresh funding, the company can tap into the top talent from Spain, the United States, and other parts of the world.

(Andrey Suslov/Shutterstock)

The funding will also help advance Onum’s efforts to use artificial intelligence algorithms to identify the most critical business data that drives value for organizations.

The AI algorithms are designed to observe data as it flows through the pipeline. It can analyze historical trends in usage and highlight which table fields are not used or rarely used. Any data that is not needed can be easily archived in inexpensive storage. Whenever needed, users can simply rehydrate the data. This way companies that use Onum only pay for the data they use, when they use it.

Onum also allows users to store a copy of the original data in a tamper-proof, inexpensive storage environment. This enables organizations to meet their regulatory compliance requirements and be prepared for audits.

The latest funding takes Onum closer to its mission to provide businesses with control over the ever-increasing pools of data while delivering real-time data observation and orchestration at lower costs.

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