| Case Study

Shakudo announces $7.2M USD of funding led by GreatPoint Ventures

Shakudo, the operating system for data stacks, has raised $7.2 million USD in a funding round led by GreatPoint Ventures, with participation from RTP Global, Golden Ventures, and Parade Ventures.

Shakudo announces $7.2M USD of funding led by GreatPoint Ventures

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Updated on:
July 5, 2023

Table of contents

READ MORE: "Announcing Shakudo – the modern data solution I wish I had" by DJ Patil

We're thrilled to announce that Shakudo has raised a funding round of $7.2M USD, led by GreatPoint Ventures, with participation from RTP Global, Golden Ventures, and Parade Ventures. This milestone arrives as we continue our journey in revolutionizing the way businesses manage their data and AI stacks. The new funding round brings the total raised by the company to $11M USD.
Shakudo co-founders (from left to right): Stella Wu, Yevgeniy Vahlis and Christine Yuen

The Operating System for Data Stacks

Shakudo is building the world’s first scalable operating system for data stacks. Businesses today spend close to 75% of their data teams’ time on setting up and maintaining data and AI stacks. Since launching in 2021, Shakudo has helped reduce vendor lock-in, costs and operational overhead for businesses in various industries such as financial services, robotics, marketing technology, climate, energy, physical security and real estate. As a result, we’ve seen growth both in new business and expansion with existing customers leading to a 6x increase in revenue in 2022 with continued strong growth in 2023 so far. Several of Shakudo’s customers have evolved their data stack several times over the course of the past two years without having to modify their underlying infrastructure or system architecture.

With the recent funding, Shakudo will be expanding its engineering, sales, marketing, and operations teams and has already onboarded new team members from companies like Google, AWS, and other leading technology companies. And we’re hiring! Check out all the job posts here.

“In today’s world, thousands of data and AI tools compete for the time and attention of data engineers and data scientists. It was necessary to build an operating layer that makes it easy for any team to start or stop using these tools with ease and low risk. That’s why we built Shakudo - to transform data stacks from fragile and monolithic objects to living and evolving systems that adapt to the industry. After seeing strong validation of the approach across a range of industries, this round of investment allows us to take Shakudo to a new level of scale, both from a product perspective and in terms of our ability to reach the businesses that would benefit the most from working with us.”

- Yevgeniy Vahlis, Co-Founder and CEO of Shakudo
“Shakudo is solving the problem I’ve had every time in setting up data systems. Essentially, I need a data stack at the push of a button and be able to treat other parts of the data stack as apps that I could pick and chose from. With Shakudo, I would have been able to get insights faster with less overhead and cost. Not to mention giving us a foundation to be able to build data products using machine learning and AI.”

- DJ Patil, Managing Partner at GreatPoint Ventures and former U.S. Chief Data Scientist
“Shakudo is building the world’s first antifragile data stack: fast, easy to deploy, scalable, and built to evolve. As the world transitions from paying lip service to data and AI to it being a key driver of efficiency, Shakudo is the only platform that provides data infrastructure that is purpose built for your organization, with the turnkey reliability and maintenance of an all-in-one solution, all while reducing vendor costs and avoiding lock-in.”

- Jamie Rosenblatt, Partner at Golden Ventures

READ MORE: "Our Investment in Shakudo: Building the Modern Data Stack" by Jamie Rosenblatt

“We were expecting the process of standing up our Enterprise Data Platform to be complex and lengthy. With Shakudo, we had a full enterprise platform operational in production within three months of launching. Post-launch we're continuing to evolve our stack with minimal friction as the data industry evolves around us and Shakudo has been a great partner on this journey.”

- Neal Gilmore, SVP data and analytics, QuadReal

The fastest and most flexible way to get started with generative AI

As generative AI sweeps through the industry, customers turned to Shakudo first for answers on how to get started with the technology and avoid making costly early mistakes. Shakudo’s approach to continuously supporting the best-of-breed tools in the industry has allowed businesses to make early bets on generative AI with confidence that they can continue to evolve their stack as new AI products emerge as leaders.

“Privacy and intellectual property are a major consideration for enterprise executives looking to leverage LLMs. With Shakudo, they have the optionality to use self-hosted open-source models that they fine-tune or access any of the leading commercial SaaS foundational models. All within their own cloud tenancy and connected to the rest of their data and AI pipelines”

- Stella Wu, Co-Founder and VP of Customer Experience and Solution Engineering

The complexity of building an operating system for massive-scale compute

A key difference between operating systems that run on individual devices and a system like Shakudo which is designed for data and AI is that it must support use cases that require massive amounts of CPU and GPU compute. Shakudo has a great degree of focus on DevOps automation across nodes, clusters, and data centers. With some customers regularly processing tens of petabytes of data through applications they’ve developed on Shakudo, it is truly a new category of operating systems designed for a future where both basic and advanced usage of data and AI is ubiquitous and deeply embedded in every industry.

“Ensuring compatibility across a large collection of data stack components that run in the cloud is a very real engineering challenge. We invest a large portion of engineering effort on designing the architecture for scale and reusability so that we can streamline the onboarding of additional components. This emphasis is especially important in today’s rapidly evolving data ecosystem”

- Christine Yuen, Co-Founder and Head of Engineering

Finally, a complete set of managed cloud services based on open source

At the time of writing, Shakudo supports over 90 data and AI stack components that are fully managed within the platform, many of which are open source. This provides a fully managed cloud experience for teams that are looking to leverage open-source tooling as much as possible, without taking on the complexity and operational overhead of managing their own in-house open-source stack.

About Shakudo

READ MORE: "Shakudo Closes $9.5-Million Cad Series A To Help Companies Adopt Generative AI" by BetaKit

Shakudo is a technology company based in Toronto, ON, Canada. It was founded by Yevgeniy Vahlis, Stella Wu, and Christine Yuen in the summer of 2021 with the mission of transforming data stacks into living, ever-evolving, systems that can rapidly adapt to changes in the industry. The company includes team members who previously worked at Google, AWS, Uber, Microsoft, and Mila - Quebec AI Institute.

Shakudo is hiring! Check out our job postings at https://www.linkedin.com/company/shakudo/jobs/

| Case Study
Shakudo announces $7.2M USD of funding led by GreatPoint Ventures

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Data Stack

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READ MORE: "Announcing Shakudo – the modern data solution I wish I had" by DJ Patil

We're thrilled to announce that Shakudo has raised a funding round of $7.2M USD, led by GreatPoint Ventures, with participation from RTP Global, Golden Ventures, and Parade Ventures. This milestone arrives as we continue our journey in revolutionizing the way businesses manage their data and AI stacks. The new funding round brings the total raised by the company to $11M USD.
Shakudo co-founders (from left to right): Stella Wu, Yevgeniy Vahlis and Christine Yuen

The Operating System for Data Stacks

Shakudo is building the world’s first scalable operating system for data stacks. Businesses today spend close to 75% of their data teams’ time on setting up and maintaining data and AI stacks. Since launching in 2021, Shakudo has helped reduce vendor lock-in, costs and operational overhead for businesses in various industries such as financial services, robotics, marketing technology, climate, energy, physical security and real estate. As a result, we’ve seen growth both in new business and expansion with existing customers leading to a 6x increase in revenue in 2022 with continued strong growth in 2023 so far. Several of Shakudo’s customers have evolved their data stack several times over the course of the past two years without having to modify their underlying infrastructure or system architecture.

With the recent funding, Shakudo will be expanding its engineering, sales, marketing, and operations teams and has already onboarded new team members from companies like Google, AWS, and other leading technology companies. And we’re hiring! Check out all the job posts here.

“In today’s world, thousands of data and AI tools compete for the time and attention of data engineers and data scientists. It was necessary to build an operating layer that makes it easy for any team to start or stop using these tools with ease and low risk. That’s why we built Shakudo - to transform data stacks from fragile and monolithic objects to living and evolving systems that adapt to the industry. After seeing strong validation of the approach across a range of industries, this round of investment allows us to take Shakudo to a new level of scale, both from a product perspective and in terms of our ability to reach the businesses that would benefit the most from working with us.”

- Yevgeniy Vahlis, Co-Founder and CEO of Shakudo
“Shakudo is solving the problem I’ve had every time in setting up data systems. Essentially, I need a data stack at the push of a button and be able to treat other parts of the data stack as apps that I could pick and chose from. With Shakudo, I would have been able to get insights faster with less overhead and cost. Not to mention giving us a foundation to be able to build data products using machine learning and AI.”

- DJ Patil, Managing Partner at GreatPoint Ventures and former U.S. Chief Data Scientist
“Shakudo is building the world’s first antifragile data stack: fast, easy to deploy, scalable, and built to evolve. As the world transitions from paying lip service to data and AI to it being a key driver of efficiency, Shakudo is the only platform that provides data infrastructure that is purpose built for your organization, with the turnkey reliability and maintenance of an all-in-one solution, all while reducing vendor costs and avoiding lock-in.”

- Jamie Rosenblatt, Partner at Golden Ventures

READ MORE: "Our Investment in Shakudo: Building the Modern Data Stack" by Jamie Rosenblatt

“We were expecting the process of standing up our Enterprise Data Platform to be complex and lengthy. With Shakudo, we had a full enterprise platform operational in production within three months of launching. Post-launch we're continuing to evolve our stack with minimal friction as the data industry evolves around us and Shakudo has been a great partner on this journey.”

- Neal Gilmore, SVP data and analytics, QuadReal

The fastest and most flexible way to get started with generative AI

As generative AI sweeps through the industry, customers turned to Shakudo first for answers on how to get started with the technology and avoid making costly early mistakes. Shakudo’s approach to continuously supporting the best-of-breed tools in the industry has allowed businesses to make early bets on generative AI with confidence that they can continue to evolve their stack as new AI products emerge as leaders.

“Privacy and intellectual property are a major consideration for enterprise executives looking to leverage LLMs. With Shakudo, they have the optionality to use self-hosted open-source models that they fine-tune or access any of the leading commercial SaaS foundational models. All within their own cloud tenancy and connected to the rest of their data and AI pipelines”

- Stella Wu, Co-Founder and VP of Customer Experience and Solution Engineering

The complexity of building an operating system for massive-scale compute

A key difference between operating systems that run on individual devices and a system like Shakudo which is designed for data and AI is that it must support use cases that require massive amounts of CPU and GPU compute. Shakudo has a great degree of focus on DevOps automation across nodes, clusters, and data centers. With some customers regularly processing tens of petabytes of data through applications they’ve developed on Shakudo, it is truly a new category of operating systems designed for a future where both basic and advanced usage of data and AI is ubiquitous and deeply embedded in every industry.

“Ensuring compatibility across a large collection of data stack components that run in the cloud is a very real engineering challenge. We invest a large portion of engineering effort on designing the architecture for scale and reusability so that we can streamline the onboarding of additional components. This emphasis is especially important in today’s rapidly evolving data ecosystem”

- Christine Yuen, Co-Founder and Head of Engineering

Finally, a complete set of managed cloud services based on open source

At the time of writing, Shakudo supports over 90 data and AI stack components that are fully managed within the platform, many of which are open source. This provides a fully managed cloud experience for teams that are looking to leverage open-source tooling as much as possible, without taking on the complexity and operational overhead of managing their own in-house open-source stack.

About Shakudo

READ MORE: "Shakudo Closes $9.5-Million Cad Series A To Help Companies Adopt Generative AI" by BetaKit

Shakudo is a technology company based in Toronto, ON, Canada. It was founded by Yevgeniy Vahlis, Stella Wu, and Christine Yuen in the summer of 2021 with the mission of transforming data stacks into living, ever-evolving, systems that can rapidly adapt to changes in the industry. The company includes team members who previously worked at Google, AWS, Uber, Microsoft, and Mila - Quebec AI Institute.

Shakudo is hiring! Check out our job postings at https://www.linkedin.com/company/shakudo/jobs/

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