Monte Carlo raises $25 million for AI that monitors data reliability

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San Francisco-based data reliability startup Monte Carlo today announced that it raised $25 million, bringing the company’s total capital raised to date to over $40 million. Monte Carlo says the proceeds will allow it to foster its community of users and further develop its data and analytics products as it looks to expand the size of its workforce.

It’s estimated that the average company spends upwards of $15 million annually tackling periods of time where data is missing, broken, or otherwise inaccurate. Around 93% of organizations who lose servers for 10 days or more during a disaster file for bankruptcy within the next 12 months, while 43% never reopen and 51% close within two years.