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Datavolo Raises $21 Million to Build Multimodal Data Pipelines for AI

Datavolo, investments, funding, data processing

Datavolo has raised $21 million to continue helping customers build scalable and secure multimodal data pipelines for artificial intelligence (AI). 

The company will use the new capital to harness Apache NiFi, which was created at the National Security Agency (NSA) to handle secure pipelines of multimodal data, into a cloud-native managed service to develop such pipelines for the latest AI systems, Datavolo said in a Tuesday (April 2) press release.

Founded by CEO Joe Witt and Chief Operating Officer Luke Roquet, Datavolo was built to solve multimodal data pipelines for enterprises looking to build secure and scalable AI applications, according to the release. 

“Luke and I feel fortunate to collaborate with exceptional investors and advisors, assembling an extraordinary team with deep enterprise expertise,” Witt said in the release. “Every team member is dedicated to the mission of advancing generative AI applications tailored to the data-intensive needs of our customers.”

Datavolo’s funding round was led by General Catalyst, with participation from Citi VenturesHuman Capital, Rob Bearden and MVP Ventures, per the release. 

The company’s solution is designed for organizations that are looking to transform their businesses with generative AI but have found that AI models are constrained by their ability to access timely, secure and complete data sets, the release said. 

“When AI systems become the backbone of daily business operations, it will be built on a data architecture, which is multimodal and real time,” Quentin Clark, managing director of General Catalyst, said in the release. “Joe and Luke are not just building another data platform; they’re setting the stage for a future where data isn’t merely handled but intelligently harnessed to fulfill the evolving requirements driven by AI.”

In another funding round in the AI space, British legal document-focused AI firm Luminance said Tuesday that it has raised $40 million to help it strengthen its foothold in the United States.

On Sunday (March 31), it was reported that Cognition Labs, which is developing an AI tool for writing code, is in discussions with investors to raise money at a valuation of up to $2 billion. The firm’s AI coding tool, Devin, can reportedly autonomously complete complex coding tasks like creating custom websites.