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Onum raises $28M to help businesses extract more value from their data at lower costs
[April 10, 2024]

Onum raises $28M to help businesses extract more value from their data at lower costs

  • Onum is on a mission to give companies complete control over their exploding pools of data while delivering real-time observation and orchestration – all while lowering costs.

  • Founder and CEO Pedro Castillo, previously the founder of Devo, the cloud analytics and security platform valued at over $2 billion, launched Onum in 2023. Its observability and orchestration platform is already helping customers add more value to their data, while slashing infrastructure costs by up to 80%.

  • Onum will use the fresh funding to hire top talent into teams in Spain and the United States, accelerate product development, and fuel expansion into the U.S. market.

  • Dawn Capital, Europe's leading specialist B2B software investor, led the Series A funding round, with participation from existing investors Kibo Ventures and Insight Partners.

MADRID, Spain, April 10, 2024 (GLOBE NEWSWIRE) -- Onum, which gives companies control over their data, cost, and performance, announced today that it has raised a $28 million Series A funding round. The fundraise, led by Europe’s leading specialist B2B software investor, Dawn Capital, with participation from Kibo Ventures and Insight Partners, will accelerate Onum’s ambitious hiring plans, product development and commercial expansion globally.

Onum was launched in 2023 by Pedro Castillo, the founder of Devo, the cloud analytics and security platform valued at more than $2 billion, and his colleagues, Lucas Varela and Pedro Tortosa. The founders had a clear vision for Onum: Give companies complete control over their data while delivering real-time observation and orchestration and helping them reduce the amount of data they send to their analytics, SIM and SIEM platforms, so they only pay for what they need. In a world where every business has an ever-growing pool of data and seemingly ever-shrinking budgets, Onum's platform delivers a smart, comprehensive solution.

The Onum platform allows businesses to uncover the data that really matters to them in pure real-time to ensure that only valuable data is sent to the appropriate data analytics platforms for immediate analysis. This immediately cuts the costs of storing and analyzing data that is not useful and also helps data analytics platforms function better, driving improved time to value for the organization. To make this even easier, Onum employs artificial intelligence to automatically identify the data that drives business and security impact to ensure that anyone can achieve these improvements and cost savings in record time.

The scale of this Series A fundraise is testament to the power of Onum’s product, the urgency of the problem, and the impact Onum has already had on its customers. Now, the founding team will use this funding to make key strategic hires and push into the U.S. market.

“We are now entering a new chapter in our company’s evolution,” Castillo said. “This capital injection will fire us forward on our rapid growth trajectory, enabling us to cater to growing demand, bolster R&D, and scale our go-to-market capabilities globally. Most importantly, these new funds will accelerate our ability to deliver even more value to more customers, helping them capitalize on their data in new, sophisticated ways that were never previously possible.”

“We are incredibly excited to support Pedro and the team as they take their market-leading platform global,” said Henry Mason, Partner at Dawn Capital. “Onum can help businesses finally realize the enormous value of their data in real-time and bring order to their sprawling data storage and infrastructure. We are confident that Pedro's stellar track record and experience scaling Devo into a leading data security player makes him the perfect person to build a global solution in this space."

“We are beyond excited and very proud to support Pedro and his experienced team for the second time, after working together with him and Insight Partners in Devo for 8 years,” said Aquilino Peña, Partner at Kibo Ventures. “Onum’s phenomenal and quick product market fit is a great indication of the future success of the company. The intersection of booming data, orchestration capabilities, real budget impact and control make Onum a new essential layer of the data management stack.”

"We are thrilled to continue supporting Onum's journey as it pioneers the frontier of real-time data observability and orchestration,” said Josh Zelman, Principal at Insight Partners. “Onum's unique platform, coupled with Pedro Castillo's track record of success, positions the company for exponential growth. We have seen Pedro build a world-class software business with Devo, and we believe he will do it again with Onum, empowering organizations to harness the full potential of their data in real-time, driving rapid and informed decision-making. Insight Partners is proud to partner with Onum on their journey towards transforming the data landscape."


About Onum
Onum helps organizations of all sizes by removing the noise from their data and leaving the meaningful part of it behind. As the first data observability platform at the edge, Onum enables enterprises to have complete control over their data, including real-time observation, filtering, enrichment, and orchestration. With Onum, our customers have the context they require to make timely, informed decisions regarding their cybersecurity, network performance, and infrastructure management by reducing costs and optimizing their current data storage and analytics platforms.

About Dawn Capital 
Dawn is Europe’s leading specialist B2B software investor. Founded in London in 2007, Dawn has raised over $2bn and backed 80+ companies, including multi-$bn category-leaders Mimecast (formerly NASDAQ-listed, taken private by Permira in a $5.8bn transaction), iZettle (sold to PayPal for $2.2bn cash), Tink (purchased by Visa for $2.0bn), LeanIX (recently acquired by SAP). Its portfolio currently spans market-leaders Quantexa, Collibra, Dataiku, Minute Media, Copper and Gelato amongst others.

Dawn backs top-performing companies from early-stage through to exit, investing from Series A onwards. Led by General Partners Norman Fiore, Haakon Overli, Josh Bell and Evgenia Plotnikova, the Dawn team comprises 40 highly experienced investors, proven entrepreneurs, business strategists and operational specialists. The team partners with founders building the next generation of software leaders, supporting them to harness extraordinary teams, exceptional technology and scalable business models to create category-defining global companies.  

In 2023, Dawn announced a $700m fundraise which included its flagship $620m fund, Dawn V - the largest dedicated early-stage B2B software fund ever raised in Europe. The firm was also acknowledged as Europe's top-performing venture capital fund manager by Preqin last year.
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