Businesses rely on metrics and KPIs to align with stakeholders, define company performance, and track outcomes. Establishing a single source of truth for those metrics today is nearly impossible because metric definitions are spread across spreadsheets, wiki pages, internal dashboards or sometimes shoehorned into data pipelines. Teams are stuck in disagreements about definitions, ownership, governance, and accuracy, which means analysts end up wasting significant time doing manual work to make sense of it all.
That’s where we come in. Transform is the first centralized metrics store that empowers data analysts to deliver accurate, timely, confident, and fast insights. The metrics store we’ve built is a centralized repository that sits on top of your data warehouse and enables metrics governance at scale, while making data accessible to every other tool in the modern data stack. We not only make data trustworthy, but we also uncover relevant insights and context so that all teams can stay on the same page and make the best decisions possible. With Transform, data analysts become strategic partners by focusing on large scale initiatives, rather than spending their days making sense of fragmented data in different systems. Our product offers three key capabilities:
- Create company-wide alignment around key metrics that scale with your organization through a unified framework, MetricFlow.
- Eliminate repetitive tasks by giving everyone a single place to collaborate, annotate data charts, and view personalized data feeds. This allows data teams to craft stories with context around the data while eliminating repetitive, time consuming tasks.
- Generate a set of APIs to integrate metrics into any other enterprise tools for enriched data, dimensional modeling, and increased flexibility.
Our founding team met while working at Airbnb, where we each interacted with an early version of their internal metrics repository. James was the original product manager, Paul was an engineer building infrastructure to support the tool, and I was a prolific consumer of the product, while defining more than 200 metrics in the tool and leading onboarding sessions for the data science team. As it evolved, we saw how it transformed the way teams made decisions and leveraged metrics for executive reporting, product experimentation, and so much more.
“Every data team struggles with multiple definitions for their metrics, which means they spend far too much time fetching bad data for stakeholders," said Emilie Schario, Data and Business Intelligence, Netlify. "Transform solves this by aligning teams on one set of metrics with the code definition and business definition in one place. Employees are more productive, and businesses make better decisions, faster."
Today we’re excited to announce that Transform has raised $24.5M in funding, as we progress on our journey to build a single source of truth for business data. The funding includes a $20M Series A led by Index Ventures and Redpoint Ventures with participation from Fathom Capital and Work Life Ventures, following a $4.5M seed led by the same firms. Dozens of industry leaders and entrepreneurs also joined the round as angel investors, including Elad Gil (Color Genomics), Lenny Rachitsky (Lenny’s Newsletter and previously Airbnb) and Cristina Cordova (Notion).
“Transform is filling a critical gap within the industry. Just as we invested in Looker early on for its innovative approach to business intelligence, Transform takes it one step further by providing a powerful yet streamlined single source of truth for metrics,” said Patrick Chase, Principal, Redpoint Ventures.
“We’ve seen companies across the globe struggle to make sense of endless data sources or turn them into actionable, trusted metrics. We invested in Transform because they’ve developed an elegant solution to this problem that will change how companies think about their data,” said Bryan Offutt, Principal, Index Ventures.
Select world-class technology companies are using Transform today, and the product will be available to any business by Fall 2021. The new funding will allow us to double our team size this year, as we hire incredible technical talent to ensure our product is not only scalable and reliable, but broadly accessible for every employee. Stay tuned as we progress on our mission to make data accessible and empower people to make better decisions through data.
If you’d like to learn about how Transform can work for your organization, reach out at hello@transformdata.io.
