US-based data preparation software provider Datameer announced on Tuesday it recently completed a $40m funding round featuring Citi Ventures, financial services group Citi’s strategic investment arm.
The round was led by investment firm ST Telemedia and included Redpoint Ventures, Kleiner Perkins, Nextworld Capital and Top Tier Capital Partners.
Datameer’s Neebo software uses machine learning to bring together data from disparate sources in the cloud and on an organisation’s premises, allowing it to be viewed, analysed and combined in a single place and published to other data science or business information tools.
Christian Rodatus, Datameer’s chief executive, said: “Neebo is a [software-as-a-service] solution that enables analytics professionals to kick-start a project in minutes and helps them immediately decrease time-to-insight.
“AI-enabled discovery and blending builds a searchable repository of trusted assets to further boost analyst performance. This is all achieved in an environment that does not compromise data governance and security.”
The round brought Datameer’s funding to $140m since it was founded in 2009, and the capital will fund the expansion of its sales and engineering teams. The latest round follows $14.7m in financing in April 2017 and $8.3m in September 2018 according to securities filings.
ST Telemedia also led the company’s last official round, a $40m series E in 2015 backed by Citi Ventures, enterprise software provider Software AG, Kleiner Perkins predecessor Kleiner Perkins Caufield & Byers (KPCB), Top Tier, Redpoint Ventures and Next World Capital.
Citi Ventures and Software AG had already participated in a $19m series D round for Datameer in 2013. Next World Capital led that round, which included enterprise software provider Workday, KPCB and Redpoint Ventures.
