The Struggle is Real: How Revefi Aims to Help Enterprises Manage Their Data
In an era where data is king, organizations are struggling to keep up with the ever-increasing amounts of information under their purview. Even those with robust data analytics and orchestration tools seem to be stuck in firefighting mode, grappling with routine and preventable operational and tactical tasks. Sanjay Agrawal and Shashank Gupta, co-founders of ThoughtSpot, a business intelligence company, have witnessed this struggle firsthand.
A study by Deloitte found that 67% of managers are uncomfortable accessing insights from data analytics platforms, partly due to technical challenges. Agrawal told TechCrunch that everyone wants to be strategic, but current approaches keep companies trapped in firefighting mode. "Companies need a modern approach to address their expanding roles and drive business success," he emphasized.
The Solution: Revefi
Agrawal and Gupta have developed exactly this modern approach and built it into Revefi, a software-as-a-service platform (and startup of the same name) they co-launched in 2021. Revefi connects to a company’s data stores and databases, such as Snowflake, Databricks, and others, and attempts to automatically detect and troubleshoot data-related issues. It also makes suggestions on how these various resources might be optimized.
Agrawal explained that Revefi enables data teams to be more strategic: "Deliver the right data at the right time at the right cost to businesses." By using Revefi, companies can:
- Deliver a unified view of their data operations
- Decrease storage bills by performing an analysis of cost and quality across different providers
One customer was able to reduce their cloud data platform costs by 30% using Revefi, Agrawal claims.
Competing in the Market
Revefi has replaced and won against several other data observability and data quality products, including Monte Carlo, Acceldata, Anomalo, Informatica, and others. Asked how many clients Revefi has at present, Agrawal declined to say. However, he did reveal that several "large enterprises" are paying for Revefi’s services, including a "$5 billion public security company" and "$10 billion public data company."
Expansion Plans
Seattle-based Revefi plans to greatly expand its product and 30-person team in the coming year. To date, the startup has raised $29 million.
"We’re benefiting from this; we are in a high-growth phase and are hiring AI, engineering, sales, and marketing talent," Agrawal said. "We are agile, manage our costs efficiently, and have a pragmatic approach to growth."
