Deepnote, a collaborative data science notebook, announced today that it has raised $20 million in Series A funding. The round was co-led by Index Ventures and Accel, both doubling down on 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.
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Deepnote raises $20 Million Series A, Led by Index Ventures and Accel, to Help Data Science Teams do their Best Work (Graphic: Business Wire)
The company is on a mission to build the best data science platform for teams, starting with a notebook that encompasses all aspects 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 the polished assets to end users. All of this is done through a powerful user interface that runs in the cloud.
“Analysts, data scientists, and analytics engineers alike love using Deepnote. The platform provides the intuitive and flexible tools needed to solve the hardest problems in data science and machine learning,” explained Jakub Jurovych, Founder and CEO of Deepnote. “Using Deepnote's collaborative and reliable environment, users see notable productivity gains, leading to significantly faster project execution.”
Over the past 7 years, there has been a 100x increase in the usage of data science notebooks corresponding to the massive growth in the data science market overall. However, existing solutions have a high barrier to entry for users who are less technical. This prevents team members with valuable expertise from contributing to data projects. Deepnote is bringing notebooks squarely into the modern data stack, bridging the gap between data science teams and the rest of the organization.
“While the universal importance of data continues to rise, the tooling around it remains stuck in one player mode. What Figma and Notion have done for design and text, Deepnote does for data,” says Index Ventures Principal Bryan Offutt. “We are excited to work with Jakub and the entire Deepnote team as they empower data organizations everywhere to do their best work, together.”
After extensive experience building data infrastructure and managing data science teams at Two Sigma, Palantir, and Google, co-founders Jakub Jurovych, Jan Matas, and Filip Stollar set out to build an innovative data science notebook. They found that the problems they faced around real-time collaboration and management of data science infrastructure were widely and deeply shared amongst the data science community; manual, fragmented hacks were no longer going to cut it. Shortly after graduating from Y Combinator in the same year, Deepnote raised a Seed round from YC, Accel, Index Ventures, and Credo Ventures—all of whom have chosen to double down on their investments.
“We're so excited to work 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 isn't a more impressive team building tools for this community.”
This fundraising round follows rapid growth as Deepnote continues to support the next generation of data scientists. The company’s notebook is already being used by tens of thousands of users at organizations such as Discord, Gusto, Harvard, Stanford, MIT, and more.
Deepnote is remote-first, with its HQ 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 in the next 12 months.
About Deepnote
Deepnote, founded in San Francisco in 2019, is a new kind of data science notebook that makes data science teams radically more productive. The company was founded around the idea that in order to solve the hardest problems in data science and machine learning, just adding more compute power wouldn't cut it. A new type of collaborative notebook would also be needed — one that brings the whole organization into the data science workflow. Deepnote’s customers include users at Discord, Gusto, Harvard, MIT, Stanford and more.
For more information, visit www.deepnote.com and follow along on Twitter and LinkedIn.
About Index Ventures
Index Ventures is a venture firm investing in the next generation of entrepreneurs from seed to IPO. They partner with founders with bold dreams that challenge the status quo to build enduring companies. With offices in San Francisco & London, Index Ventures invests in entrepreneurs all over the world. Generational Index-backed companies include Adyen, Datadog, Discord, Figma, Robinhood, and Roblox.
About Accel
Accel is a global venture capital firm that is the first partner to exceptional teams everywhere, from inception through all phases of private company growth. Atlassian, Braintree, Cloudera, Crowdstrike, DJI, DocuSign, Dropbox, Etsy, Facebook, Flipkart, Freshworks, Jet, Pillpack, Qualtrics, Slack, Spotify, Supercell, Tenable, UiPath, and Venmo are among the companies Accel has backed over the past 35+ years. They help ambitious entrepreneurs build iconic global businesses. For more, visit www.accel.com or www.twitter.com/accel.
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