Alation Stock for Accredited Investors

Data & Analytics
By UpMarket Research  |  Last updated: September 2026
CEO Satyen Sangani Founded 2012 HQ Redwood City, US

Alation is a private enterprise data intelligence company that helps organizations find, govern, and trust data. Its platform includes data catalog, governance, lineage, and search tools for analytics and AI use cases. In November 2022, Alation raised $123 million in its Series E at a $1.7 billion post-money valuation, led by Thoma Bravo, Sanabil Investments and Costanoa Ventures (Reuters and Alation).

Access to pre-IPO shares is available to accredited investors through UpMarket.

Last Reported Valuation
$1.7B
Series E, 11/02/22, Reuters and Alation
UpMarket Estimate
$1.7B
Based on UpMarket valuation model
Previous Round Valuation
$1.2B
Series D, Jun 2021

How to Invest in Alation Through UpMarket

Alation shares are not on public exchanges. UpMarket provides accredited investors access through secondary market transactions.

Step 01

Verify accredited investor status

Confirm eligibility under SEC Rule 501 of Regulation D. Income or net worth threshold applies.

Step 02

Create an UpMarket account

Complete KYC/AML onboarding. Typically 1–2 business days. Licensed rep assigned on signup.

Step 03

Review available Alation offerings

Full offering memoranda and risk disclosures provided before any commitment is required.

Step 04

Complete subscription documents

Review and sign subscription agreement. All documents handled digitally through the platform.

Step 05

Fund your investment

Wire transfer or ACH. $50K minimum. Funds held in custodial account until close.

Pre-IPO investments are illiquid, speculative, and involve risk of total loss of capital.

${{aum_amount_brokered_en}}B+
UpMarket has brokered over ${{aum_amount_brokered_en}} billion in alternative investments*
*Includes principal invested and appreciation of investments originated via the UpMarket platform based on historical trade volume and valuation estimates through {{aum_as_of_date_en}}. Of the total, approximately ${{aum_amount_managed_en}} million is managed by UpMarket Management, with the remaining originated investments managed by affiliates. Past performance is not predictive of future results.

Valuation Growth Over Time

Post-money valuation by round
Previous rounds Most recent
DateRoundAmount raisedValuation
Nov 2022 Series E $123M $1.7B
Jun 2021 Series D $1.2B

Alation's most recent reported round is its Series E, announced November 2, 2022. It raised $123 million at a reported post-money valuation of $1.7 billion, led by Thoma Bravo, Sanabil Investments and Costanoa Ventures. Source: Reuters and Alation. Data as of September 27, 2026.

Alation Revenue and Growth

Annual revenue

Why Investors Are Watching Alation

Growth Signal

Alation raised $123M Series E at $1.7B valuation

Alation announced a $123 million Series E led by Thoma Bravo, with Sanabil Investments, Costanoa Ventures and Databricks Ventures participating. The round took total funding to $340 million and lifted the company’s valuation to more than $1.7 billion.

Market Opportunity

Alation says it serves 40% of Fortune 100 firms

Alation says its enterprise data intelligence platform serves nearly 600 customers across 24 countries, including 40% of Fortune 100 companies. The company positions its software around data cataloging, governance and AI readiness for large enterprises.

Competitive Moat

Alation built its data catalog on AI plus human curation

Alation describes its product as a machine-learning-based data catalog that helps organizations find, understand, govern and manage data. Costanoa says the platform uses artificial intelligence to automatically capture enterprise data context and relationships, reinforcing its governance moat.

Interested in Alation stock? Fill out the form above or sign up directly. Subject to availability. Accredited investors only.

Request access →

Alation Leadership Team

Satyen Sangani
CEO
Raj Gossain
President
Aaron Kalb
Chief Strategy Officer

UpMarket Investment Curation Process

  • Full diligence on every offering

    UpMarket curates and conducts independent diligence on every investment opportunity before it reaches the platform.

  • Strategy, fees & legal reviewed in full

    We review every offering's strategy, risk management, liquidity, fees, valuation methodology, tax matters, and all third-party providers: legal counsel, auditor, administrator, and custodian.

  • Disciplined managers only

    We offer investments exclusively from disciplined managers that pursue unique strategies across an array of asset classes.

  • Built around your objectives

    Our goal is to empower you to build a portfolio that best meets your individual investment objectives.

Ready to access institutional-grade private market investments? Unlock private markets

Alation Stock FAQ

No. As of March 2026, Alation is a private company and does not trade on any public stock exchange. Accredited investors can access Alation shares through UpMarket, a FINRA-registered broker-dealer that specializes in pre-IPO investments.

Alation does not have a public stock price because it is privately held. The most recent known share price comes from its last funding round. Pre-IPO share prices on the secondary market may differ from the last round price depending on supply, demand, and market conditions.

Yes. Accredited investors can indicate interest in Alation shares through UpMarket by filling out the form on this page or creating an account at upmarket.co. All pre-IPO offerings are subject to availability and require a $50,000 minimum investment. UpMarket is a FINRA-registered broker-dealer and has brokered alternative investments since 2019.

Pre-IPO investments carry significant risks. Alation shares are illiquid, meaning there is no public market to sell them quickly. There is no guaranteed exit timeline or return. The investment is speculative in nature, and investors should be prepared for the possibility of total loss. Valuations of private companies can fluctuate substantially between funding rounds. Investors should consult their financial advisor and review all offering documents before investing.

In a pre-IPO transaction, accredited investors purchase shares from existing shareholders (such as employees, early investors, or other holders) through secondary market platforms. The company itself does not issue new shares in these transactions. UpMarket facilitates these trades as a FINRA-registered broker-dealer, handling compliance, documentation, and settlement on behalf of both parties.

There are two primary exit paths for pre-IPO holdings: selling your shares on the secondary market to another buyer, or holding until the company completes an IPO or is acquired. Both paths are subject to transfer restrictions, company approval (right of first refusal), and market conditions. The timing of any exit is unpredictable, and investors should plan for a multi-year holding period.

The minimum investment for most pre-IPO offerings on UpMarket is $50,000. This amount may vary depending on the specific offering and share availability. There are no fees to create an UpMarket account or browse available investments. Investors only pay transaction-related fees when they complete an investment.

UpMarket's valuation estimate of $1.7B is derived from a proprietary model that incorporates multiple data sources: funding round data (Caplight), revenue estimates (Sacra), secondary market pricing, and public company comparables. The model applies a private company discount to the public comp multiple to account for illiquidity and information asymmetry. This estimate is not investment advice and may differ substantially from the price at which shares actually trade.

Alation was valued at $1.7B in its November 2022 Series E. Accredited investors can request Alation access through UpMarket.

Invest in Alation Request access