For years, corporations have poured cash into knowledge warehouses, dashboards, and enterprise intelligence instruments, solely to find the actual downside wasn’t storage or visualization—it was translation.
That disconnect is strictly what Omni was constructed to bridge, and traders are actually betting massive that the corporate has the formulation. The corporate simply raised a $120 million Sequence C led by Iconiq—valuing the startup at $1.51 billion—Fortune realized solely. The spherical comes 4 years after the corporate was based.
Omni builds what’s often called a semantic layer: The ruled translation layer that sits between an organization’s uncooked knowledge and no matter or whoever is querying it. Consider it as a dwelling rulebook that defines what income means, who can see which numbers, and the way key metrics must be calculated. Omni’s clients embrace BambooHR, Guitar Heart, Checkr, Mercury, Pendo, and Heidi AI. BambooHR alone makes use of Omni to serve greater than 100,000 customers.
The corporate’s three co-founders—Colin Zima, Jamie Davidson, and Chris Merrick (all Princeton grads)—reconnected after Google acquired Zima and Davidson’s former employer, Looker, for $2.6 billion in 2020. Zima, who’s Omni’s CEO, served as Looker’s chief analytics officer and vp of product.
Omni isn’t with out competitors. OpenAI launched Frontier in February, positioning it explicitly as “a semantic layer for the enterprise that all AI coworkers can reference.” Snowflake and Databricks all have their very own semantic layer choices baked into stacks enterprises are already paying for. Omni’s reply to the bundling menace is architectural: legacy gamers must rearchitect their whole merchandise to match what Omni has constructed from the bottom up—a dynamic Iconiq accomplice, Matt Jacobson, compares to Snowflake’s early benefit over Amazon’s Redshift.
Zima sees the present second as a real inflection level. “It was a latent demand that had always been there,” he instructed Fortune. “The tools just weren’t ready.” They look like now. Omni’s ARR grew almost fourfold over the previous 12 months, and the corporate hit profitability for the primary time final month. It employs roughly 200 individuals throughout San Francisco, Dublin, and Sydney.
For Zima, the AI wave is Omni’s tailwind. “AI is an actual advantage for us rather than something ripping the industry apart,” he instructed Fortune, explaining that as extra enterprises deploy AI brokers on their knowledge, the extra they want a ruled semantic layer beneath these brokers.
Iconiq’s Jacobson attracts a pointed comparability to previous platform shifts: “That market opportunity is just enormous. It’s much bigger than business intelligence as we imagined it beforehand,” he mentioned. The BI software program market is valued at roughly $47 billion in 2025, with the semantic layer sub-segment projected to develop at 30% yearly by means of 2031, in response to Futurum Group.
The tempo of enterprise adoption has additionally shifted: “We’re measuring this in days and weeks now—not months, quarters, or years,” Jacobson instructed Fortune.
See you tomorrow,
VENTURE CAPITAL
– VAST Information, a New York Metropolis-based AI working system firm, raised $1 billion in Sequence F funding. Drive Capital and Entry Industries led the spherical and have been joined by current traders together with Constancy Administration & Analysis Firm, NEA, NVIDIA, and others.
– Tortugas Neuroscience, a Framingham, Mass.-based neurology-focused drug discovery firm, raised $106 million throughout seed and Sequence A rounds. Treatment Ventures led the seed spherical and led the Sequence A spherical alongside The Column Group and AN Enterprise Companions.
– Courier Well being, a New York Metropolis-based affected person expertise platform for all times sciences corporations, raised $50 million in Sequence B funding. Oak HC/FT led the spherical and was joined by current traders.
– Sooth Labs, a Pittsburgh, Pa.-based AI lab designed to construct fashions that may forecast real-world and market occasions, raised $50 million in seed funding. Felicis Ventures led the spherical and was joined by angel traders.
– NeoCognition, a Palo Alto, Calif.-based developer of AI brokers designed to be self-learning, raised $40 million in seed funding. Cambium Capital and Walden Catalyst Ventures led the spherical and have been joined by Vista Fairness Companions and others.
– Zocalo Well being, a Kenmore, Wash.-based main care supplier designed for high-need populations, raised $15 million in Sequence A funding. EO Ventures led the spherical and was joined by Talipot and current traders.
– BetHog, a New York Metropolis-based crypto on line casino and sportsbook, raised $10 million in Sequence A funding. Will Ventures and RockawayX led the spherical and have been joined by PCV, 6MV, Bullpen Capital, and Advancit Capital.
– 10x Science, a San Francisco-based developer of AI for molecular-level protein characterization, raised $4.8 million in seed funding. Initialized Capital led the spherical and was joined by Y Combinator, Civilization Ventures, Founder Issue, and angel traders.
PRIVATE EQUITY
– KKR invested $1.5 billion in Vertical Bridge REIT, a Delray Seaside, Fla.-based communications infrastructure proprietor and operator.
– Behrman Capital acquired Metallizing Service Firm, a West Hartford, Conn.-based supplier of thermal spray coatings and ending companies for army and business aerospace makes use of. Monetary phrases weren’t disclosed.
– Brightstar Capital Companions acquired Bendon Publishing Worldwide, an Ashland, Ohio-based designer and distributor of licensed kids’s coloring, exercise, and academic merchandise. Monetary phrases weren’t disclosed.
– First Eagle Investments acquired Diamond Hill Funding Group, a Columbus, Ohio-based funding administration agency. Monetary phrases weren’t disclosed.
– GTCR acquired Fiduciary Belief Firm, a Boston, Mass.-based non-public wealth supervisor and belief firm. Monetary phrases weren’t disclosed.
– SK Capital Companions acquired Brothers Worldwide Meals Holdings, a Rochester, N.Y.-based supplier of pure fruit substances and merchandise, from Benford Capital Companions. Monetary phrases weren’t disclosed.
– SkySparc, a portfolio firm of Bregal Milestone, acquired Covarius, a London, U.Ok.-based expertise consultancy, and Uniun, a London, U.Ok.-based clever integration and knowledge platform. Monetary phrases weren’t disclosed.
– Tencarva Equipment Firm, backed by Bessemer Traders, acquired WWaterTech Providers, a Waller, Texas-based water and wastewater gear firm. Monetary phrases weren’t disclosed.
– Ticketure, backed by Dahlia Fairness Companions, acquired Patron Supervisor, a Pittsburgh, Pa.-based supplier of CRM and ticketing software program to cultural establishments, from Leap Occasion Expertise, a portfolio firm of Vector Capital. Monetary phrases weren’t disclosed.
– TickPick, backed by Brighton Park Capital, acquired Momento, a New York Metropolis-based cellular app designed to assist followers seize, share and relive their stay occasion experiences. Monetary phrases weren’t disclosed.
– Veristate, backed by WindRose Well being Traders, agreed to accumulate the Regulatory and Medical Writing enterprise of Certara, a Radnor, Pa.-based drug discovery options firm. Monetary phrases weren’t disclosed.
EXITS
– Stonepeak acquired Southern Marinas, a Palm Seaside Gardens, Fla.-based proprietor and operator of marinas, from KSL Capital Companions. Monetary phrases weren’t disclosed.
– THL Companions agreed to accumulate Celerion Holdings, a Lincoln, Neb.-based scientific pharmacology and bioanalytical sciences firm, from H.I.G. Capital. Monetary phrases weren’t disclosed.
– UnitedHealth Group agreed to accumulate Alegeus, a Boston, Mass.-based advantages administration platform, from Vista Fairness Companions. Monetary phrases weren’t disclosed.
IPOs
– Nationwide Healthcare Properties, a New York Metropolis-based actual property funding belief, raised $462 million in an providing of 38.5 million shares priced at $12 on the Nasdaq.
– Yesway, a Fort Price, Texas-based comfort retailer chain, raised $280 million in an providing of 14 million shares priced at $20 on the Nasdaq.
FUNDS + FUNDS OF FUNDS
– Oncology Ventures, a New York Metropolis-based enterprise capital agency, raised $62 million for its second fund targeted on the oncology sector.
PEOPLE
– Companions Capital, a London, U.Ok.-based funding agency, employed Zach Gaucher as senior principal. Beforehand, he was with Cambridge Associates.
