New York City-based Alkymi, the leader in data workflow automation, has raised $21 million in Series A funding led by Intel Capital, with current investors Canaan, Work-Bench, and SimCorp also participating. Dave Mueller, Investment Director at Intel Capital, will join Alkymi’s Board of Directors, bringing his expertise in enterprise technology and go-to-market to help the firm scale its growth.
More than 80% of the world’s data will be unstructured by 2025, with only 0.5% being evaluated and used today (1). Unstructured data generates significant obstacles for business activities in the organization, resulting in operational bottlenecks, costly inefficiencies, bad customer experiences, and employee attrition — massive difficulties for enterprises in any market situation.
That is why Alkymi is developing the Data Action Layer, a first-of-its-kind layer that converts real-world unstructured data into actions, allowing both technical and non-technical users to cost-effectively and easily automate their own data operations.
The Series A funding, which increases the company’s total capital to $26 million, will allow Alkymi to scale its offerings by expanding its hiring efforts in product development and go-to-market. This funding round follows a year of significant milestones, including customers enabling 45 million data actions on the platform, revenue growth of 300%, and recognition by KPMG as the top “Private Enterprise Tech Innovator” in the United States.