Unicorn co-founders raise Series A round for new Redmond venture

Redmond-based data management startup Revefi announced a $20 million Series A round Wednesday, adding to a $10.5 million seed round a year ago.

Revefi co-founder and CEO Sanjay Agrawal said the company has roughly 45 employees, up from about 30 a year ago. It will continue to add employees, likely reaching a headcount of 50 to 60 over the next year.

"The intent is to grow because that's how you build a company," Agrawal said. "We want to grow aggressively but also very responsibly."

Revefi said in a news release the money will help grow its engineering, product management, sales, marketing and customer success teams. The company has nine open roles listed on its website.

Revefi was founded in 2021. The company helps data teams manage and troubleshoot their data use, for example alerting teams of a certain function that is taking up much of a company's data capacity for a large chunk of the day. Along with the funding Wednesday, Revefi announced an artificial intelligence tool called Raden that helps teams identify and fix queries that are creating a logjam.

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Revefi has offices in the Thinkspace Redmond building at 8201 164th Ave. NE. Agrawal said the space has worked well for the team, and the company has room to grow there without having to move. In addition to the Seattle area, Revefi has employees throughout the U.S. and in India.

Agrawal and fellow co-founder Shashank Gupta, who is also Revefi's chief technology officer, were among the co-founders of the analytics company ThoughtSpot, which had a $4.2 billion valuation as of 2021, according to a release. (Agrawal left in 2021 and Gupta left in 2016, their LinkedIn pages show.) The pair also have experience at Facebook, Amazon, Google and Microsoft.

Icon Ventures led the Series A round, while Mayfield, GTM Capital and StepStone Group participated. Icon has also invested in the data infrastructure company Confluent and the financial technology company Bill.

Agrawal said Revefi is growing its number of customers. He declined to say how many customers the company has but said it's "in double digits."

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