Vaultspeed, the Belgium-based SaaS company specialised in data warehouse automation solutions, has closed a €3.6 million Series A round led by Fortino Capital Partners. The company was founded 2 years ago by Piet De Windt and Dirk Vermeiren with support of The Cronos Group, who remains on board through its seed investment fund the CoFoundry.
Vaultspeed’s data automation software serves data managers by accelerating and automating the entire lifecycle (design, build and maintain) of their Data Vault. Data Vault technology is an innovative approach to centralise enterprise data for business analysts who deliver the necessary real time insights that business leaders need to guide their decisions.
This is where Vaultspeed comes into play. Dirk Vermeiren, CTO of Vaultspeed said, “While ensuring quality and consistency, the tool automates the integration of data from multiple source systems into the Data Vault, making it available for further analysis throughout the enterprise. This is what agile business leaders need to accelerate their time to market, cut the complexity and reduce project risks.”
Vaultspeed’s customer base ranges from California (Department of Health of Santa Clara County) across Europe to Japan (Olympus). The rise of microservices driving the multiplication of distributed data sources, the move to the cloud, the increasing volume of data and degree of change and the scarcity of qualified talent stimulate organisations to respond faster and smarter, increasing the demand for automated data warehousing solutions.
Vaultspeed recently signed a global deal with the Japanese multinational Olympus who will be building regional as well as global data integration platforms in order to make faster and better use of their enterprise data and improve their customer-driven solutions for the medical, life sciences and industrial industries. By bringing Vaultspeed into the process, Olympus can now create faster and better integrated insights on their SAP data and non-SAP data which was not possible before.
Duco Sickinghe, Managing Partner at Fortino Capital said, “We have seen a rapidly increasing traction for data vaults over the past years and are truly excited to support Piet De Windt (CEO) and Dirk Vermeiren (CTO) in accelerating their growth. Vaultspeed’s data warehouse automation tool plays a crucial role in helping customers increase their agility, while responding to strong time-stamping, auditability and traceability requirements.”
Wim Bijnens, partner at CoFoundry added, “We have seen Vaultspeed evolve from an idea into a prototype on to a proof of concept with some of our key customers in Belgium. Today, Vaultspeed is ready to scale up and deliver value to business leaders all over the world. With enthusiasm and belief in a great future for Vaultspeed, we are pleased with the support of Fortino Capital in this exciting scaling phase.”
With the additional funding, Vaultspeed will look to further scale its organisation and invest in its best of breed product in order to serve and expand its international customer base. Piet De Windt, CEO of Vaultspeed added, “Vaultspeed’s cloud-based product is platform agnostic and integrates with top-tier tools in the data integration ecosystem. We strive to bring the best value and technology to our customers leveraging our strong and growing partner ecosystem. We are happy to onboard Fortino Capital and look forward to entering Vaultspeed’s next development phase together.”