Brussels-based Raito, a data access management software for modern data teams, has picked up €4 million in seed funding. The financing round was co-led by Dawn Capital (that backed RPA Supervisor, Fonoa and Medusa) and Crane Venture Partners. It also saw participation from a range of angel investors, including Collibra, Showpad and Harbr.
Emerges from stealth!
As a result of the investment, Raito has emerged from stealth mode. Also, it will focus on its mission to make data teams more productive by simplifying data access management. The company will focus on getting its productivity-first solution to customers.
Raito is now launching to customers in Europe and North America, focusing on mid-sized organisations, with between 100 and 3,000 people, with the intention to disrupt the €11 billion data access management industry.
Commenting on the announcement, Chief Executive Officer Bart Vandekerckhove, said: “As data management becomes more complex, companies are having to choose between innovation and security – it’s that dichotomy that acts as a straitjacket for businesses where data is their most competitive asset. I’m extremely excited Raito is now able to emerge from stealth mode and we can get our productivity-first solution into the hands of customers”.
Henry Mason, Partner at Dawn Capital, said: “The data access management industry is ripe for a shake-up with existing solutions just not fit for purpose. Having witnessed their impressive achievements at Collibra over many years, we’re proud to support Bart, Dieter and the team in their mission to rethink data access management and in so doing to unlock the immense potential of data-driven organisations”.
Scott Sage, Partner at Crane Venture Partners, said: “Access to data is a multi-billion dollar problem that desperately needs solving. Businesses and entire data teams are not able to reach their full potential because of data access management inefficiencies, but with Raito they stand a chance. Bart and Dieter have built and scaled data products to some of the most demanding companies on the planet, and it’s a pleasure to support their dream of helping data teams to fly”.
How was Raito formed?
Raito was formed in 2021 when co-founders Bart Vandekerckhove and Dieter Wachters, who served as Product Manager for Data Privacy and Vice President for Engineering respectively at Collibra, left the company to create a ‘paradigm shift’ in the way data teams manage access to data. They have created an impressive team, with other former Collibra colleagues on board, including Michael Maes and Michael Tandecki, who built Collibra’s first AI/ML modules used by some of the world’s biggest companies, and Nicolas Pirotte, who was one of the driving architects of Collibra’s front-end.
Follows productivity-first approach
In recent years, the falling costs and broader democratisation of storage and compute led to companies rapidly scaling their data teams, with the consequence of data engineers becoming overburdened by data access requests from those additional team members.
Companies have often responded to this challenge by simply opening the data to everyone. Access management went from being tightly controlled to being almost completely ungoverned. Tighter privacy regulations and a string of data breaches have forced companies to review this decision, though a return to centralised access management, which is inadequate in industries where data is a competitive asset.
Raito’s productivity-first approach provides data analysts faster access to data, removes the challenging data access requests from data engineers, and gives data governance the tools to control, monitor and report on data usage.