Collibra Raises $23M in Series B Funding; Previews New Product That Applies Artificial Intelligence To Big Data Governance
Company moving its primary headquarters and majority of its management team to the United States
At Strata Conference in New York, Collibra will preview new product that uses artificial intelligence to help businesses more effectively understand and manage data
Series B funding round led by Index Ventures, with participation from Dawn Capital
Company is growing at 200% annually, plans to double headcount over the next 12 months
New York, NY and Brussels, Belgium – September 28, 2015 – Collibra, the data governance company that helps customers understand, trust, and use data efficiently, today announced a $23 million Series B investment round led by Index Ventures, with participation from Dawn Capital. The investment will be used to help the company accelerate growth by expanding its sales and marketing operations in the United States and Europe, and building out its product development and customer success teams. Prior to this Series B round, Collibra raised $3M and achieved profitability.
Founded in 2008, Collibra provides an easy-to-use business application that automates any data-related business process for enterprise users and knowledge workers.
Collibra’s Data Governance Center helps organizations define and manage business glossaries and code hierarchies to understand what their data means, catalog data sets so that they can be easily found and consumed, document how the data flows through the organization to understand the impact of changes, specify policies and quality rules, assign clear responsibilities, and automate various review and approval processes to ensure policy and regulatory compliance. It integrates seamlessly with existing data management tools for technical users, as well as big data and analytics platforms.
At the Strata + Hadoop World Conference in New York on September 29 (Booth # 345), Collibra will preview a new product that uses artificial intelligence and machine-learning algorithms to automatically link the huge volume of data assets to approved business terms, providing an entirely new way to browse, search and discover big data sets, automate the process of tracking and complying to data requests, on-boarding new data sets, and certifying KPIs and reports. It makes it easier for business users to understand what data is available, where to find it, and how to use it.
“As data complexity has exploded in recent years, it has become critical for companies to easily find and understand reliable, high-quality sources for decision-making, analytics and regulatory reporting,” says Collibra CEO Felix Van de Maele. “Collibra provides an end-to-end solution that enables data stewards, Chief Data Officers, and every knowledge worker the ability to trust data and maximize the value of their company’s data.”
Collibra has had over 200% revenue growth in the last two fiscal years, and currently has 90 employees and over 85 customers – including five of the 10 world’s largest banks and many of the leading brands in the Technology, Healthcare, Retail, Telecom and Education sectors.
Technology companies use Collibra to certify KPIs and reports to make sure their executives trust them for decision-making;
Banks use Collibra for BCBS 239 and IFRS 9 compliance, as regulators force them to put in place stringent Data Governance programs;
Healthcare providers use Collibra for cohort identification in population health management, and analytics and quality measures for Meaningful Use;
Retail companies use Collibra to significantly shorten the time it takes to add new products to their product databases.
“The success of Collibra is driven by the growth of data, increasing privacy concerns, complexity of regulation around the world and the need for companies to access data quickly and across many of its functions,” commented Jan Hammer, Partner at Index Ventures.
“Data Governance and data stewardship have become critical components of Big Data programs,” says Norman Fiore, General Partner at Dawn Capital. “The challenges of storing and analyzing huge volumes of data have largely been cracked. The new frontier begins by selecting the correct sources of data over time and continues all the way through legal compliance for a given customer, territory and sector.”
As part of its commitment to customer-centric engagement and expansion, Collibra is moving the majority of its management team and commercial headquarters to New York City, while maintaining its legal headquarters in Brussels. The company plans to nearly double its headcount by hiring 80 employees over the next 12 months.
Collibra Corporation is the industry’s only global data governance provider founded to address data management from the business stakeholder perspective. Delivered through a cloud-based or on-premise solution, Collibra is the trusted data authority that provides data stewardship, data governance and data management for the enterprise business user. Combining entrepreneurial roots with software and artificial intelligence expertise, Collibra was founded in 2008 and has locations in New York, London, Wroclaw and Brussels. For more information visit www.collibra.com
About Index Ventures
Index Ventures is a multi-stage venture capital firm founded to support the best and most ambitious entrepreneurs, wherever they are. With a global network and headquarters in London and San Francisco, we’ve teamed up with founders in 39 cities, across 24 countries, who are building the world’s next great companies. They include Adyen, BlaBlaCar, Criteo, Dropbox, Etsy, Factual, Funding Circle, Hortonworks, iZettle, Just Eat, King, Lookout, Pure Storage, Socialbakers, Sonos, SoundCloud, Squarespace and Supercell — among and many others. Find out more about us at www.indexventures.com.
About Dawn Capital
Dawn is an early stage VC firm run by entrepreneurs and investing in startups across Europe. We support SaaS and Fintech companies that develop world leading technology to improve business value chains and productivity. We firmly believe that Europe will continue to produce strong global competitors in the technology field. Dawn typically invests in companies that are expanding internationally and are looking for operational support and capital.
Dawn Capital’s portfolio companies include Gelato Group, iControl, Mimecast, Neo Technology, Showpad, iZettle and Wonga, with many others looking to join their rank.