Alation Inc., the leader in enterprise data intelligence solutions, has raised $123 million in a Series E funding round. This latest investment follows five consecutive quarters of accelerated growth.

Thoma Bravo, Costanoa Ventures, and Sanabil Investments led this latest funding round, with participation from Dell Technologies Capital, Icon Ventures, Hewlett Packard Enterprise (HE), Riverwood Capital, Queensland Investment Corporation, Salesforce Ventures, Union Grave, and Sapphire Ventures. Databricks Ventures, the strategic investment arm of Databricks, the San Francisco-based enterprise software company that was founded by the creators of Apache Spark, also participated in the funding as a new investor.

Total funding, Alation said in their press release, to date is $340 million, and the startup is now valued at a whopping $1.7 billion plus. The company plans to use the newly-raised capital to beef up product research and development. The funds will also be used to support the global expansion program and grow the global workforce, which currently stands at more than 700.

In a released statement via the company’s press release, Satyen Sangani, CEO and co-founder, said: “We raised $123 million because we wanted to continue to invest and give our customers the world-class data intelligence experience they deserve. The confidence from our investors reinforces that Alation is the leading data intelligence platform and we are well positioned to capitalize on opportunities in our expanding market.”

The CEO also added: “The modern enterprise needs data in good times … and even more so in bad. With a challenging economic outlook, companies are looking to their data for direction, to drive operational efficiencies, and gain or maintain a competitive advantage. Alation makes that happen consistently with clients increasing their spend year-over-year. Our calling cards are consistent ROI, engagement, and adoption. This latest funding round will help us go even faster, so more organizations can harness the power of their data and convert this wealth of information into usable, trusted insights.”

Founded in 2012, and based in Redwood City, California, Alation Inc. is the leader in enterprise data intelligence solutions, including data search & discovery, data governance, data stewardship, analytics, and digital transformation. The company combines machine learning with human insight to successfully tackle even the most demanding challenges in data and metadata management.

Alation’s premier product, Alation Data Catalog dominates the data catalog market. It helps global companies and leading brands in organizing and consolidate their data. The company’s customers include AbbVie, American Family Insurance, Cisco, Exelon, Fifth Third Bank, Finnair, Munich Re, NASDAQ, New Balance, Parexel, Pfizer, US Foods, and Vistaprint.