Although initialed at the end of June, the multinational IBM has just announced the acquisition of the startup, Databand. Of Israeli origin and based in Tel Aviv, he is the developer of a data observation software platform intended primarily for data scientists and data engineers. Prior to this acquisition, Databand’s huge potential had raised over $14 million.
This movement falls within the position of the technological giant to improve and expand its offer in artificial intelligence, data and automation, and even more so in a context where more and more the management and use of data becomes essential in the strategies of companies, also of course at IBM. The acquisition also means that Databand employees join the extensive IBM workforce.
Daniel Hernández, manager of data and artificial intelligence of the multinational, has stated that this purchase will help IBM customers better identify and troubleshoot data-related issues, as well as errors and poor quality of them. “Our customers are data-driven businesses that depend on high-quality, reliable data… when they don’t have access to the data they need at any given time, their business can grind to a halt,” he said.
The goal that IBM wants
IBM already has a specific mission with Databand: that of expand observability capabilities for integrations through open source and commercial tools. In addition, your customers will be able to use all the advantages of Databand, either as a service or as a subscription. In the acquisition statement, IBM has stated, “As the volume of data continues to grow at an unprecedented rate, organizations are struggling to manage the health and quality of their data sets, which is necessary to make better decisions. business decisions and gain a competitive advantage.
It should be remembered that IBM currently has IBMWatson, a computer system for answering questions, and IBM Cloud Pack for Data, a competent data platform. Therefore, Databand could be of great help to the company in reinforcing its commitment to the study and observability of data with the aim of offering reliable data and artificial intelligence on a large scale.
Databand was founded in 2018 by Josh Benamram, Victor Shafran, and Evgeny Shulman. was born as one software platform that had the purpose of helping companies and organizations to control such an important value for them as data. And it is that, in its know how Databand what it does is process various pipeline metadata, including logs, runtime information and data profiles, presenting them on a single platform alongside data from other sources such as Airflow, Spark and Snowflake. So engineers can see bottlenecks or anomalies and the potential reasons why they occur.
To its credit, Databand has earned the trust of renowned investors such as FanDuel, Bessemer Venture Partners, Agoda and Trax Retail. Accel, Blumberg Capital, Lerer Hippeau, Ubiquity Ventures, and Differential Ventures.
According to a Statista report, the observability and data quality market is one of the most thriving in the technology sector. Organizations are increasingly looking to closely monitor and protect their data, with an estimated value of $13 billion in 2020 and $20 billion by 2024. Databand is also the fifth acquisition IBM has made this year . Operations all of them focused on AI, automation, cloud and IT companies.
