Sanjay Agrawal and Shashank Gupta, co-founders of the business intelligence powerhouse ThoughtSpot, noticed a growing problem in the world of data management.

As companies grappled with ever-increasing volumes of data, even those with sophisticated analytics and orchestration tools found themselves overwhelmed.

A Deloitte study underscores this challenge, revealing that 67% of managers struggle to draw insights from data analytics platforms, often due to technical complexities. "Many organizations aspire to be strategic but find themselves bogged down by routine, preventable tasks," Agrawal shared with TechCrunch. "There’s a need for a modern solution that enables companies to focus on growth and innovation."

In response to this need, Agrawal and Gupta developed Revefi, a software-as-a-service (SaaS) platform that automates data operations. Launched in 2021, Revefi connects seamlessly with various data stores and databases, such as Snowflake and Databricks. It automatically identifies and resolves data-related issues while offering optimization suggestions for these resources.

"Revefi empowers data teams to take a strategic approach," Agrawal explained, "delivering the right data at the right time and cost to drive business success."

The platform has proven effective in unifying a company’s data operations and cutting down on data storage expenses. For example, one customer reduced their cloud data platform costs by 30% with Revefi's help, according to Agrawal.

Revefi's competitive edge has allowed it to outperform major players like Monte Carlo, Acceldata, Anomalo, and Informatica in the data observability and quality space. Although Agrawal declined to disclose the exact number of clients, he did mention that several large enterprises, including a $5 billion public security firm and a $10 billion public data company, are utilizing Revefi’s services. ThoughtSpot, notably, is featured in Revefi's case studies.

Based in Seattle, Revefi recently secured $20 million in a Series A funding round led by Icon Ventures, with additional investments from Mayfield, GTM Capital, and StepStone Group. This brings the startup’s total funding to $29 million. The company plans to significantly expand its product offerings and its 30-person team over the next year.

"With the explosive growth of data, the proliferation of tools, and rising data costs, enterprises are facing unprecedented challenges," Agrawal noted. "Revefi is well-positioned to thrive in this environment. We’re in a high-growth phase, hiring top talent in AI, engineering, sales, and marketing, and are committed to a pragmatic approach to scaling our business."