Data prep and management platform Data.World raises $11M

Cloud-based information catalog startup Data.World today closed a $11.05 million development round led by Dutch chemical enterprise Vopak, a buyer. The enterprise says the funds will be used to help expansion, solution development, and hiring, as properly as new buyer acquisition.

Data scientists invest the bulk of their time cleaning and organizing data, according to a 2016 survey performed by CrowdFlower. In a current Alation report, a majority of respondents (87%) pegged information high-quality difficulties as the cause their organizations failed to implement AI. That’s probably why firms like Markets and Markets anticipate that the information prep sector, which involves providers that present information cataloging and curation tools, will be worth upwards of $3.9 billion by the finish of 2021.

Data.World aims to do away with a handful of of the information management discomfort points with a catalog that maps information to enterprise ideas, generating a unified body of expertise. The platform delivers cloud and on-premises tools that can be used to inventory and organize information inside each new and current enterprise systems.

“We founded data.world to create the most meaningful, collaborative, and abundant data resource in the world by dismantling the barriers between people and data,” CEO Brett Hurt, who cofounded Data.World with Bryon Jacob, Jon Loyens, and Matt Laessig, told VentureBeat in e mail. “There are two main ways we are achieving this, both powered by the knowledge graph (linked data). First, as a cloud-native enterprise data catalog and agile data governance solution that makes data easy to find, understand, trust, use, and reuse. Second, as the world’s largest collaborative open data community, which is free and open to the public.”

Using Data.World’s items, customers can save and share information queries, analyses, and findings. They’re also in a position to make and apply enterprise descriptions and definitions and bring metadata in by means of collection agents, APIs, file transfers, and imports.

Data.World provides analytics capabilities for discovery, with fine-grained permissions for information viewing, editing, and publishing plus automatic tracking of provenance and lineage. The company’s collaboration dashboard, which builds on expertise graph and information visualization technologies, delivers activity feeds and alerts to aid share information sources in context.

Growth and expansion

Despite pandemic-connected challenges, Data.World, which has 85 staff, continues to see quarter-more than-quarter buyer expansion, according to Hurt. In January, the platform’s user base surpassed a million customers, following the announcement of a partnership with no-code information connector Precog to incorporate the latter’s technologies into its platform. And in March, Data.World inked an agreement with information reliability enterprise Monte Carlo to integrate its platform for pipeline abnormality monitoring and alerting.

Data.World’s consumers consist of the Associated Press, CareOregon, and Wunderman Thompson.

“Data.world has more than one million users in our open data community. This includes community members from more than two-thirds of the Fortune 500,” Hurt mentioned. “We do not disclose our enterprise customer count, but I can say that it has more than doubled during the past twelve months … We’ve also had a number of customers expand very rapidly with us, and one of them has over 11,000 users right now on data.world.”

Angel investors Steve Pagliuca, former Priceline CEO Rick Braddock, and David Reuter also participated in Data.World’s most recent financing round. It brings the company’s total raised to date to more than $82 million following a $26 million round last September.

Originally appeared on: TheSpuzz