Deepnote Raises $20M Series A, Led by Index Ventures and Accel, to Help Data Science Teams Do Their Best
SAN FRANCISCO–(BUSINESS WIRE)–Deepnote, a collaborative data science notebook, today announced it has raised $20 million in Series A funding. The round was co-led by Index Ventures and Accel, both doubling their seed investments , with participation from Y Combinator and Credo Ventures. Existing investors include OpenAI’s Greg Brockman, Figma’s Dylan Field, Elad Gil, Naval Ravikant, Daniel Gross, and Lachy Groom.
The company is on a mission to create the best data science platform for teams, starting with a laptop that encompasses every aspect of the data science workflow. In the notebook, users can connect their data, explore and analyze it with real-time collaboration and versioning, and easily share and present polished assets to end users. This is all done through a powerful user interface that runs in the cloud.
“Analysts, data scientists, and analytics engineers love using Deepnote. The platform provides the intuitive and flexible tools needed to solve the toughest problems in data science and machine learning,” explained Jakub Jurovych, founder and CEO of Deepnote “By using Deepnote’s collaborative and reliable environment, users see noticeable productivity gains, leading to significantly faster project execution.”
Over the past 7 years, the usage of data science notebooks has increased 100x, matching the massive growth of the data science market as a whole. However, existing solutions present a high barrier to entry for less technical users. This prevents team members with valuable expertise from contributing to data projects. Deepnote brings notebooks squarely into the modern data stack, bridging the gap between data science teams and the rest of the organization.
“As the universal importance of data continues to grow, the tools around it remain stuck in single-player mode. What Figma and Notion did for design and text, Deepnote does for data,” says Bryan Offutt, Principal of Index Ventures, “We are thrilled to be working with Jakub and the entire Deepnote team as they enable data organizations around the world to do their best, together.”
After extensive experience building data infrastructures and managing data science teams at Two Sigma, Palantir, and Google, co-founders Jakub Jurovych, Jan Matas, and Filip Stollar set out to create a data science notebook innovative. They found that the issues they faced regarding real-time collaboration and data science infrastructure management were widely and deeply shared within the data science community; manual and fragmented hacks were no longer going to suffice. Shortly after graduating from Y Combinator that same year, Deepnote raised a seed round from YC, Accel, Index Ventures, and Credo Ventures, all of whom opted to double their investments.
“We are thrilled to be working with Jakub and this incredibly passionate group of data technologists,” says Accel Partner Vas Natarajan. “They understand data science workflows at the most nuanced levels. There are no more awesome team building tools for this community.
This fundraising follows rapid growth as Deepnote continues to support the next generation of data scientists. The company’s laptop is already used by tens of thousands of users in organizations such as Discord, Gusto, Harvard, Stanford, MIT, etc.
Deepnote is remote-first, with its headquarters in San Francisco. The company will use the funding to expand its presence among data science communities, with plans to double the team to 50 employees over the next 12 months.
Deepnote, founded in San Francisco in 2019, is a new type of data science notebook that makes data science teams radically more productive. The company was founded around the idea that to solve the toughest problems in data science and machine learning, simply adding more computing power would not be enough. A new type of collaborative notebook would also be needed – one that brings the whole organization into the data science workflow. Deepnote customers include users from Discord, Gusto, Harvard, MIT, Stanford and more.
For more information, visit www.deepnote.com and follow Twitter and LinkedIn.
About Index Ventures
Index Ventures is a venture capital firm that invests in the next generation of entrepreneurs, from seed to IPO. They partner with founders with bold dreams who challenge the status quo to build sustainable businesses. With offices in San Francisco and London, Index Ventures invests in entrepreneurs around the world. Companies backed by the Generational Index include Adyen, Datadog, Discord, Figma, Robinhood, and Roblox.
Accel is a global venture capital firm that is the premier partner to exceptional teams everywhere, from inception through all phases of private enterprise growth. Atlassian, Braintree, Cloudera, Crowdstrike, DJI, DocuSign, Dropbox, Etsy, Facebook, Flipkart, Freshworks, Jet, Pillpack, Qualtrics, Slack, Spotify, Supercell, Tenable, UiPath and Venmo are some of the companies Accel has supported in the past. 35+ years old. They help ambitious entrepreneurs build iconic global businesses. To learn more, visit www.accel.com or www.twitter.com/accel.