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Other participants in the round include new investors Breyer Capital, Prologis Ventures, Alumni Ventures Group and Arthur Patterson. The investment brings Austin-based data.world’s total funding to $71.3 million since the company was founded in 2015, according to Crunchbase data.
The company creates cloud-native data catalog maps of an enterprise’s data, such as business concepts, and turns the it into one body of knowledge that anyone can explore for insights and recommendations on related assets.
“The crazy reality of this space is how bad the data silo problem is, not just here, but all over the world,” CEO Brett Hurt told Crunchbase News.
The new funds will be used to ramp up sales and marketing, product development, and establishing new partnerships, Hurt said.
Due to the pandemic, many of the big conferences that drove data.world’s leads were canceled, but the company was still able to meet its lead generation goals, he added.
“That was a bright greenlight for opening up the aperture for more spending on sales and marketing,” Hurt said. “We also will spend time pioneering agile data governance, which is an important need in the data cataloging industry because you have to be careful what data goes to what person.”
Two of the company’s current partnerships include Manta, an online resource dedicated to small business, and cloud data platform Snowflake. Hurt said customers can set up a data catalog on Snowflake in approximately 10 minutes, whereas it can take six to 12 months to do the same with competitors.
Next up, the company will be expanding into new vertical industries in the U.S. with its knowledge graph.
“So far, we haven’t found a vertical that doesn’t have a data silo problem,” Hurt said. “As for our knowledge graph, it is a really killer technical differentiator for us, so we will continue to light that up so that it lights up the dark data within a company.”
Illustration: Li-Anne Dias