Funding comes from client investment and additional angel investments
As businesses seek better ways to manage and organize their massive amounts of data, companies specializing in this area continue to gain traction. Data.world is one such company and is currently celebrating a new $ 11 million funding round.
Directed by Vopak Ventures, a customer of data.world, the funding will be used for product development, hiring, customer acquisition, etc. In addition to Vorpak, angel investors Steve Pagliuca, Rick Braddock and David Reuter have participated in the growth cycle.
This round of funding comes after a round of $ 26 million in September.
In a statement, Leo Brand, CIO of Vopak notes: “Vopak Ventures is very happy to have participated in the last funding round of data.world. We see data.world as a very promising platform that can really help individuals and organizations to work. with data. data.world allows everyone, not just “data people”, to get clear, precise and quick answers to any business question. “
The data preparation industry, of which data.world is a part, continues to gain in relevance, with some studies indicating that it is an industry worth nearly $ 4 billion by the end of 2021.
The company helps other companies manage and organize their data to better deploy models for various processes. Additionally, data.world helps validate data which is extremely important as bad data sets can lead to bad decisions and incorrect answers. Because data is such a big topic, the company also helps facilitate understanding of data, through natural language search functions.
Data.world CEO Brett Hurt, recount Venture out, “We founded data.world to create the world’s most meaningful, collaborative and abundant data resource by breaking down barriers between people and data. “