Belgium

[Funding alert] Leuven-based VaultSpeed Raises €15.1 Million Series A Round Funding

Nov 16, 2023 | By Startup Rise EU

Leuven-based VaultSpeed raises €15.1 Million series A round funding. This funding round is led by Octopus Ventures, one of the largest and most active venture capital investors in the UK and Europe, with additional participation from the current lead investor Fortino Capital, PMV, and BNP Paribas Fortis Private Equity.

Leuven-based VaultSpeed raises €15.1 Million series A round funding. This funding round is led by Octopus Ventures, one of the largest and most active venture capital investors in the UK and Europe, with additional participation from the current lead investor Fortino Capital, PMV, and BNP Paribas Fortis Private Equity.

Following two consecutive years of triple-digit revenue growth, VaultSpeed intends to use the proceeds to further expand its strong international presence with a particular focus on the UK and US market and platform automation capabilities.

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Launched in Belgium four years ago with seed investment from the Cronos Group and Fortino Capital, VaultSpeed has redesigned data transformation.

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It not only handles data complexity through transformation but also consolidates the data into a comprehensive target data model, allowing data engineers to customize it according to their requirements in a matter of days and weeks as compared to traditional methods.

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VaultSpeed is already offering its automation solutions to global enterprises, particularly in finance, healthcare, and utilities sectors. The company has established strategic partnerships with Snowflake, Microsoft, and Databricks, and has developed a network of over 30 service partners to serve clients on a global scale.

PIET DE WINDT CEO and Co-Founder of VaultSpeed said, “All data teams are looking at increasing productivity and agility. We automate every step of their cloud data warehouse or lakehouse. From setup to maintenance and beyond. We’re excited to team up with Octopus Ventures, they resonated with our ambition from the start to revolutionize the cloud data market. With this funding we aim to triple our revenue by 2025.”

PAUL DAVIDSON Partner from Octopus Ventures said, “Data warehouse automation is rapidly replacing conventional approaches to data warehouse creation which are becoming ineffective and obsolete. VaultSpeed have developed a no-code automation platform that we consider to be a best-in-class solution to address modern data engineering challenges, which often requires an ability to execute business intelligence or analytics projects in a matter of hours rather than months. We are delighted to partner with Piet and Dirk who have executed well on their vision for their solution to date and are confident that we can help them accelerate their ambitious international expansion plans."

ABOUT VAULTSPEED

VaultSpeed is the Automated Data Transformation solution of choice for leading companies. By combining automation templates, a data modeling GUI and a metadata repository in one platform, VaultSpeed helps businesses improve delivery and maintenance of their cloud data warehouse or lakehouse.

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