CapitalG, the growth equity arm of internet and technology conglomerate Alphabet, led a $100m series E round yesterday for US-based data governance and catalogue software provider Collibra.
Multi-family office Iconiq Capital and venture capital firms Index Ventures, Dawn Capital and Battery Ventures all participated in the round, which values the company at more than $1bn.
Founded in Belgium in 2008, Collibra has developed cloud software that helps companies organise and use the data they collect in manner that meets compliance regulations, making it easier for their employees to understand how the business operates.
Collibra claims to serve more than 300 customers in sectors such as healthcare, retail, manufacturing and financial services. It will use the series E capital for product development, expanding its team and enhancing the platform’s artificial intelligence and machine learning capabilities.
The deal brings the company’s total funding to $233m, it said. It initially raised $1.8m in a 2008 seed round featuring data intelligence-as-a-service provider BI3 Solutions and the Brussels municipal government-backed Brustart.
Newion Investments reportedly added $1.3m in 2012 before Collibra closed a $23m series B round in 2015 that was led by Index Ventures and backed by Dawn Capital.
Iconiq Capital led the company’s $50m series C round in early 2017, investing with Battery, Dawn Capital, Index Ventures and Newion Investments, before Collibra secured $58m in a January 2018 series D round co-led by Iconiq and Battery that included Dawn, Index and Newion.
CapitalG principal Derek Zanutto said: “Collibra is putting organisations back in control of their data, helping them comply with changing legislation, embrace emerging technologies and capture the information that will enable them to design services and solutions built for the future.
“We look forward to partnering with Collibra and marrying Google and Alphabet’s machine learning and AI expertise with Collibra’s leadership in data collaboration, workflow management and risk management.”