Codified, a Gen AI-powered data governance startup, has just announced a significant boost to its operations with $4m in seed funding.
The company, which was born out of Madrona Venture Labs and spearheaded by founder Yatharth Gupta, has attracted attention from notable investors.
This round of funding was co-led by Madrona Ventures and Vine Ventures, with additional participation from Soma Capital and angel investors including Bob Muglia, JG Chriapurath, and Shireesh Thota. In a move that underscores the startup’s potential, Ali Ghodsi, founder and CEO of Databricks, and Arnab Bose, Chief Product Officer at Workforce Identity Cloud by Okta, have joined the Codified Advisory Board.
Codified is at the forefront of addressing one of the most pressing issues in the digital era: data governance. With the advent of Generative AI, businesses are increasingly reliant on their critical data for insights and product development, while also grappling with data security and privacy concerns.
Traditional data governance has been a manual, time-consuming, and often non-compliant process. Codified aims to revolutionize this landscape by developing an AI-powered Data Governance platform that enables companies to author and implement data governance policies using natural language, automating access provision and ensuring full visibility into data access rights.
The newly acquired funds are earmarked for several key areas of development. Codified plans to use this investment to expand its team, accelerate its product development, and launch its innovative solution to the market. The company is already working with design partners and is preparing for a product preview for select customers in 2024.
In addition to the financial boost, Codified’s approach to data governance has been well-received by the investment community. “Data is widely acknowledged to be an important asset for nearly every company, but managing access to this exponentially growing and critical asset relies on manual processes that are cumbersome, error-prone, and extremely time-consuming to audit.
“Codified is built for any company wrestling with data governance solutions, offering just-in-time access and protection in alignment with company policies,” S. Somasegar, managing director at Madrona, commented. Yatharth Gupta, reflecting on the journey and vision of Codified, stated, “We are thrilled to launch Codified and pioneer the first-of-its-kind policy-driven Data Governance solution. Customers are spending months implementing Data Governance solutions and this needs to change. With Codified, customers will be able to save time and money while significantly improving their security posture. Security does not have to be complex to implement and hard to use. By re-imagining the approach from the ground up, we are simplifying the pain associated with protecting the access to data.”
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