Stemma Raises $4.8M Seed Funding for Managed Data Catalogue

The Growing Need for Accurate Data and Stemma's Solution

With businesses becoming increasingly data-driven, the accuracy of data sources is now critically important. Stemma, a newly established startup, addresses this challenge with a managed data catalogue designed to serve as an organization’s definitive source of truth.

Seed Funding and Product Launch

The company recently announced a $4.8 million seed investment round, spearheaded by Sequoia, with participation from prominent figures in the technology sector. Notably, the Stemma product is available to users for the first time today.

Built on Open-Source Foundations

According to co-founder and CEO Mark Grover, the product leverages the open-source Amundsen data catalogue project. Grover was instrumental in launching Amundsen at Lyft to effectively manage the company’s extensive data needs.

Initially, employees relied on ad-hoc solutions to verify data validity. However, manual methods, such as inquiries via Slack or the creation of Wikis, proved inadequate when faced with the sheer volume and rapid pace of data changes.

The Genesis of Amundsen and its Adoption

“My direct experience at Lyft motivated the creation of the Amundsen open-source project, developed alongside a team of skilled engineers,” Grover explained. Currently, 750 users at Lyft utilize the platform on a weekly basis.

Since its open-source release, 35 other organizations, including Brex, Snap, and Asana, have adopted and implemented Amundsen.

Stemma's Enhanced Capabilities

Stemma provides a fully managed version of Amundsen, incorporating advanced features. These include intelligent data presentation, displaying information most relevant to each user’s search query.

Furthermore, the platform automatically adds metadata to data as it enters the catalogue, generating documentation in real-time, among other enhancements.

Company Formation and Support from Lyft

Stemma was founded last fall when Grover and co-founder and CTO Dorian Johnson decided to collaborate on a commercial product built upon Amundsen. Grover emphasized that Lyft provided strong support for this venture.

Team Growth and Commitment to Diversity

Currently, the company employs five individuals in addition to the founders, with plans for further expansion throughout the year. Grover is prioritizing diversity and inclusion in the hiring process.

“Investing in diversity is incredibly important, and we’re focusing on building a diverse team from the outset,” he stated. The initial five employees represent diverse backgrounds, and the company aims to improve representation across all levels, including investors, board members, and executives, as it grows.

Remote-First Approach and Future Plans

Launched during the COVID-19 pandemic, Stemma operates entirely remotely and intends to maintain this model for the foreseeable future. The company plans to foster team cohesion through regular employee offsite events as it expands.