Data has become essential for businesses to comprehend and analyze underlying patterns, sales, and growth. One problem is that data-driven companies may employ inaccurate data. Although data is present everywhere today, the quality is poor. More data need not guarantee good results; quality data does. Having quality data prevails over having more. But improving the quality of an enormous amount of data is a time-consuming and tedious process.
Validio, a Sweden-based company, is helping data-driven companies solve this problem with end-to-end data quality monitoring and validation in data warehouses and real-time streams. By providing a cutting-edge data quality platform for any size modern data-driven enterprise, they abstract complexity away from data engineering.
The platform from Validio links end-to-end to all data sources, including data lakes and streams, and can be scaled to allow for real-time validation of both the metadata and the actual data points. Users can divide data to compare like to like, for example, validating pricing information separately for each country. Most importantly, Validio allows data teams to identify flawed data and correct it before it is consumed downstream.
The goal of Validio is to eradicate inaccurate data and give businesses the confidence they need to be data-driven. The company aims to empower data-driven businesses to fully realize the potential of their data, producing better and more sustainable results. The company’s target clients are businesses involved in big data, such as those in marketing and commerce, security firms, and business intelligence. Names like Budbee, Babyshop, Voi, and Tibber are among them.
The company emerged from stealth with a seed funding of $15M. This round was led by Lakestar, a London-based venture capital firm that is an early investor in businesses like Facebook and Airbnb but has since mainly focused on supporting promising startups from Europe like Skype, Spotify, etc. J12 and several other investors also participated. Soccer player Zlatan Ibrahimović, Snowflake’s CMO Denise Persson, Kevin Ryan of MongoDB, Emil Eifrem of Neo4j, Mehdi Ghissassi of DeepMind, and Kim Fai Kok and Dara Gill of the angel group Framtid are all on the list.
Validio plans to use the funding for research and development, product development, and hiring more employees.
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Consultant Intern: Currently in her third year of B.Tech from Indian Institute of Technology(IIT), Goa. She is an ML enthusiast and has a keen interest in Data Science. She is a very good learner and tries to be well versed with the latest developments in Artificial Intelligence.