A $4.5 million seed investment has been made in the data platform as a service startup, Keboola, based in Prague. Along with Reflex Capital, the venture capital fund of Mall Group founder Ondej Fryc, and several well-known angel investors, including Eduard Kuera, the founder of Avast, and Tomá upr, the founder of Rohlik Group, the financing round was spearheaded by Prague-based Presto Ventures.
Keboola had been totally self-funded and operating in bootstrap mode before this funding round. The money will be used to quicken growth in North America and Europe.
In 2022, Keboola expects to generate an annual subscription revenue (ARR) of over $8 million. Additionally, it anticipates revenues in 2023 to at least double.
“We believe in the power of data and AI to fundamentally revolutionize any business,” stated Pavel Doleal, CEO of Keboola. But the infrastructure-building and -maintenance process takes a lot of time and money. Only a select few businesses, including Amazon, Google, and others, can utilize their data to its full potential. For everyone else, we want to open up the data opportunity.
According to Pémysl Rubé, the founder of Presto Ventures, the Keboola team was innovative with their concept. They did a tremendous job of organically growing the firm and making Keboola a household name in the business intelligence and data analytics communities. We can’t wait to help them win in the $655 billion global market by 2029 by supporting them as they accelerate their growth.
Petr imeek, Pavel Doleal, and Milan Veverka launched Keboola in Prague in 2017. When Pavel and Petr first met in late 2014, they began to discuss the future of data, machine learning, and the requirements for complete AI business process automation and genuine data democratization. They determined that everyone would need to be able to create data applications and data, therefore they highlighted the necessity for an abstraction layer or “Operating system for data.”
Currently, Keboola has an 80-person team that is made up of 75% males and 25% women, to continue promoting diversity at all organizational levels, starting with the leadership team.
Keboola is a Snowflake-based platform that is scalable and offers a special solution for every data-driven business. From startups to large corporations, everywhere in the world and in every market. Enterprise-level security and governance are offered. The platform offers a uniform interface, automation, and interfaces for businesses’ various data analysis tools and apps.
The platform is open, enabling third-party app integrations and providing a variety of versatile code languages. These features allow for a wide range of customization options and give businesses the flexibility to create their code and components, including machine learning algorithms.
Currently, among its clients are companies from a variety of industries, including retail, e-commerce, marketing, financial services, and hospitality, including RBI (restaurants), DXC, ProductBoard, Mall Group, and Rohlik Group.
Image Credit: Keboola