Monte Carlo Valuation, Funding & Investors

Monte Carlo is valued at $1.6B as of May 2022.

Last Monte Carlo valuation

$1.6B

Series D · May 2022

Last Monte Carlo funding round

$135M

Series D · May 2022

Cumulative funding Monte Carlo raised

$236M

across 4 funding rounds

Key investors in Monte Carlo

  • Accel
  • Notable Capital
  • Redpoint
  • Salesforce Ventures
  • ICONIQ Capital
  • GIC

Monte Carlo Overview

About Monte Carlo

Monte Carlo is a San Francisco-headquartered data observability platform that detects, diagnoses, and resolves data quality issues for enterprises using Snowflake, Databricks, and BigQuery. The tool monitors over 10 trillion data rows daily across 2,000 customers including JetBlue and IBM. Founded in 2019, Monte Carlo integrates with dbt and Tableau to prevent pipeline failures and ensure reliable analytics.


Founded

2019

HQ

United StatesSan Francisco, CA

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Valuation

$1.6B (May 2022)

Monte Carlo Valuation

Monte Carlo is currently valued at $1.6B, based on its Series D in May 2022.

The $135M round was led by IVP, with participation from Salesforce Ventures, Redpoint, ICONIQ Capital, GIC, Accel and 1 other investor.

Monte Carlo valuation by funding round

Monte Carlo valuation by funding round
DateStageValuation
May 2022Series D$1.6B

Monte Carlo Funding History

Monte Carlo has raised a total of $236M across 4 funding rounds.

Monte Carlo's first fundraising round was a $16M Series A in September 2020. The most recent completed round was a $135M Series D in May 2022.

Monte Carlo funding rounds

Monte Carlo funding rounds
DateStageInvestorsRaisedValuationDeal Summary
May 2022Series DIVP (lead); Salesforce Ventures; Redpoint; ICONIQ Capital; GIC; Accel; Notable Capital$135M$1.6BMonte Carlo is a data observability platform that helps companies monitor data inflows, detect issues and errors, and ensure data reliability for downstream analysis. In May 2022, it raised a $135 million Series D round led by IVP at a $1.6 billion post-money valuation, with participation from Accel, GIC, ICONIQ Growth, Notable Capital, Redpoint, and Salesforce Ventures. This funding came amid exceptional growth, following its $60 million Series C in August 2021 led by ICONIQ Growth. The company demonstrated hyper-growth leading into the Series D, reporting more than 2x revenue growth every quarter and an 800% year-over-year revenue increase since the Series C. Earlier, between summer 2020 and summer 2021, Monte Carlo scaled its ARR by 8x and doubled ARR in each of the prior four quarters. This rapid expansion enabled it to secure unicorn status in a cooling late-stage market, highlighting investor confidence in its market leadership. Monte Carlo's traction includes major enterprise customers like Block, Buzzfeed, Discover Financial Services, Notion, PepsiCo, Jetblue, CNN, Affirm, Sofi, and OpenTable. Around two-thirds of its business was U.S.-based, with the rest from the Middle East/North Africa, and similar demand in Europe. Growth primarily stemmed from new customers, with early positive net retention trends. The funds were earmarked for hiring, product development, expanding use cases, and entering new markets, building on over $100 million raised previously. Post-round, Monte Carlo continued strong performance, doubling Fortune 500 customers by Q3 2023 and achieving 177% YoY ARR growth to nearly $15 million by January 2024, with some unverified estimates above $40 million by September 2024. It raised a total of $236 million by then, renewing 100% of customers in 2021.
Aug 2021Series CICONIQ Capital (lead); Salesforce Ventures; Redpoint; Accel; Notable Capital$60M-Monte Carlo is a data observability and data reliability platform that helps customers monitor data inflows and detect issues and errors that could impact downstream data analysis. The company raised $60 million in Series C funding in August 2021, led by ICONIQ Growth with participation from Salesforce Ventures and existing investors Accel, GGV Capital, and Redpoint Ventures, bringing total funding to $101 million at that time. This was the company's second major financing round within a single year, following a $25 million Series B in February 2021. Monte Carlo explicitly declined to disclose its Series C valuation but told TechCrench it was valued at 4x its Series B valuation; given the Series B's estimated $100M-$175M range, this implies a Series C valuation between $400M and $700M, though this is analyst inference rather than a company-stated figure. The company demonstrated exceptional growth: it doubled its annual recurring revenue (ARR) in each of the prior four quarters, scaling ARR by approximately 8x over the one-year period from summer 2020 to summer 2021. Since the Series B announcement in February 2021, Monte Carlo more than doubled quarterly revenue with an 800% year-over-year revenue increase, and expanded its customer base to include major names such as Intuit, Affirm, Fox, Vimeo, PagerDuty, and Zalora. The funding was intended to fuel growth in the data observability category, develop product offerings, support additional use cases, and expand into new markets.
Feb 2021Series BNotable Capital (lead); Redpoint (lead); Accel$25M-Monte Carlo is a data observability platform that helps companies monitor data inflows, detect issues and errors, and ensure reliable data for analysis, serving customers in fintech, e-commerce, media, B2B software, and retail like Compass, Eventbrite, Mindbody, and Hippo Insurance. The company raised a $25M Series B round around February 2021 co-led by Redpoint Ventures and GGV Capital, with participation from Accel, bringing total funding over $40M after a prior Series A led by Accel in September 2020. This round aimed to pioneer the data observability category, grow the user community, and accelerate data and analytics adoption. Redpoint's Tomasz Tunguz highlighted the enormous market opportunity and Monte Carlo's pioneering role validated by its customer roster. A subsequent $60M Series C in August 2021 was led by ICONIQ Growth with participation from Salesforce Ventures, Accel, GGV Capital, and Redpoint, bringing total funding to $101M to fuel category growth, product development, more use cases, and market expansion. TechCrunch reported the Series C valued the company at 4x the Series B (inferred $400M-$700M post-money, assuming Series B at $100M-$175M) on the back of ARR doubling each of the prior four quarters (8x growth summer 2020-2021), with over $70M cash on hand post-round. The company achieved 100% customer retention in 2021, more than doubled revenue quarterly since Series B, added customers like Intuit, Affirm, Fox, Vimeo, PagerDuty, and Zalora, and grew from 20 to 120 employees by Series D in 2022.
Sep 2020Series AAccel (lead); Notable Capital$16M-Monte Carlo raised $16 million in a Series A funding round on September 16, 2020, led by Accel. Notable Capital participated as an investor. This round followed the company's inception and preceded subsequent financings, bringing total funding to over $40 million by the Series B announcement in early 2021.

Who has invested in Monte Carlo?

7 investors have backed Monte Carlo across its funding rounds, including Accel, Notable Capital, Redpoint, Salesforce Ventures, ICONIQ Capital and GIC.

Lead investors include IVP, ICONIQ Capital, Notable Capital, Redpoint and Accel.


Monte Carlo Investors

Investors in Monte Carlo by funding rounds participated
InvestorHQRoundsRoleFirst check
AccelUnited StatesPalo Alto, CA4LeadSep 2020
Notable CapitalUnited StatesSan Francisco, CA4LeadSep 2020
RedpointUnited StatesSan Francisco, CA3LeadFeb 2021
Salesforce VenturesUnited StatesSan Francisco, CA2ParticipantAug 2021
ICONIQ CapitalUnited StatesSan Francisco, CA2LeadAug 2021

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Monte Carlo Competitors

Monte Carlo competitors include listed companies like Business-intelligence and Teradata, and private ones like Alation, Firebolt, Devo and Neo4j.

Public and private companies comparable to Monte Carlo
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
AlationUnited StatesSan Francisco, CAPrivate$100M-$1.7B17.0x
FireboltIsraelTel AvivPrivate--$1.4B-
DevoUnited StatesUnited StatesPrivate--$2B-
Neo4jSwedenMalmoPrivate$200M-$2B10.0x
Business-intelligenceChinaChinaPublicly listed$389M$54M$2B5.9x
TeradataUnited StatesUnited StatesPublicly listed$1.7B$285M$2.7B1.5x

Monte Carlo Public Comps

Monte Carlo is still privately-owned, but its public comps include TRS Information Technology, Amplitude, Transwarp, Planisware, Innodata, Red Violet, Clarivate, Business-intelligence, DoubleVerify and Karooooo.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
TRS Information Technology$76M($20M)19.3x19.7x(73.5x)478.8x
Amplitude$343M($76M)4.6x4.1x(21.1x)98.8x
Transwarp$67M($31M)27.5x28.0x(59.8x)-
Planisware$228M$78M7.3x6.7x21.5x18.4x
Innodata$252M$47M6.8x5.2x36.6x22.7x
Red Violet$90M$24M13.2x11.7x50.0x31.7x
Clarivate$2.5B$829M2.1x2.2x6.3x5.3x
Business-intelligence$389M$54M6.6x5.9x47.7x-

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Common questions about Monte Carlo

When was Monte Carlo founded?Monte Carlo was founded in 2019.
Where is Monte Carlo headquartered?Monte Carlo is headquartered in San Francisco, CA, United States.
Is Monte Carlo publicly listed?No, Monte Carlo is a private, VC-backed company.
What is Monte Carlo's valuation?Monte Carlo was last valued at $1.6B in its Series D in May 2022.
How much funding has Monte Carlo raised?Monte Carlo has raised $236M across 4 funding rounds.
What was Monte Carlo's last funding round?Monte Carlo's last funding round was a $135M Series D in May 2022, led by IVP.
Who are Monte Carlo's investors?Monte Carlo's investors include Accel, Notable Capital, Redpoint, Salesforce Ventures, ICONIQ Capital, IVP and GIC.
Which companies are comparable to Monte Carlo?Companies comparable to Monte Carlo include Alation, Firebolt, Devo, Neo4j, Business-intelligence and Teradata.

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