Austin-based data.world is taking its data platform to the next level with an additional $50 million in funding.
The Series C financing, announced Tuesday, brought the company’s total funding to $132.3 million, including a $26 million raise in 2020.
Goldman Sachs’ growth equity business led the round. Prologis Ventures, Shasta Ventures, Vopak Ventures, Sandbox Insurtech Ventures, Paul Albright, Rick Braddock, Zachary Karabell, Dave Liu and Scott Stephenson also participated in the round.
Data.world currently has more than 100 employees. The fresh funding will be used for global expansion, product innovation and doubling its employee headcount over the next 12 to 18 months, according to the company.
Founded in 2015, data.world is the developer of a cloud-native enterprise data catalog that helps companies discover, access and analyze insights from data.
The company said it offers the only data catalog powered by knowledge graphs, which organizes relationships between concepts in the form of a graph. The company said its knowledge graph foundation not only allows it to support more data sources, but also allows users to search the metadata of any data source in the graph.
“Leaders understand the importance of extracting key insights from their data to drive their business or organization, but they have struggled to put in place the necessary infrastructure to do so broadly across their departments and teams,” Brett Hurt, data.world co-founder and CEO, said in a statement. “We look forward to collaborating with our partners, including Goldman Sachs, to dramatically expand our product offerings, open new markets and provide companies with solutions that drive data literacy, access and usability all powered by our knowledge graph.”
The company’s SaaS platform is used across a variety of industries, including banking, insurance and healthcare. Some of its customers include Penguin Random House UK, Prologis, Verisk Analytics, WPP, the Associated Press and Vopak.
“Trust in data is critical to data-driven decision making and driving company performance and data.world has been an important partner in making this possible,” Luke Slotwinski, vice president of data and analytics at Prologis, said in a statement. “We leverage data.world’s data and knowledge management platform to democratize data, empowering analytics self-service and data understanding throughout our business.”
Data.world is a certified B corporation, meaning that its decisions are based on what’s best for the public while still maximizing shareholder profit.
Mike Reilly, a vice president in Goldman Sachs’ growth equity business, has also joined data.world’s board of directors. Reilly said in a statement that data.world has created a user interface that is intuitive to both technical and business users.
“Given their positioning and product differentiation, we believe that they are best-positioned to capture extensive market share in the evolving, high-growth data catalog space,” Reilly said.
Data.world is actively hiring for 20 roles spanning its sales, marketing, engineering and product teams.
