US-based data collaboration technology developer Data.World raised $50m in series C funding on Tuesday from investors including Prologis Ventures, the corporate venturing arm of warehouse operator Prologis.
Investment banking firm Goldman Sachs led the round through its growth equity subsidiary, Goldman Sachs Asset Management, while Shasta Ventures, Vopak Ventures and Sandbox Insurtech Ventures also took part.
Private investors Paul Albright, Rick Braddock, Zachary Karabell, Dave Liu and Scott Stephenson filled out the participants in the round, taking Data.World’s total funding to over $132m. Mike Reilly, a vice-president (VP) at Goldman Sachs Growth Equity, has joined its board of directors as part of the deal.
Data.World has built a software-as-a-service (SaaS) platform for the open data community, helping users access business insights and graphs. Prologis is among its customers, as are Penguin Random House UK, Verisk Analytics, WPP, Associated Press and Vopak.
Luke Slotwinski, VP of data and analytics at Prologis, said: “We leverage Data.World’s data and knowledge management platform to democratise data, empowering analytics self-service and data understanding throughout our business.
“Prologis Ventures has been a part of several funding rounds with Data.World, including this one – we believe in the product, user experience and mission.”
Vopak Ventures had led an $11m round for Data.World in May 2021 that included private investors Steve Pagliuca, Rick Braddock and David Reuter. It came eight months after a $26m series D efeaturing Prologis Ventures and Workday Ventures, part of enterprise software provider Workday.
Tech Pioneers Fund led the series D round, also participating together with Breyer Capital, Alumni Ventures Group, Shasta Ventures, OurCrowd, Arthur Patterson, Lincoln Brown and Cotter Cunningham, lifting the company’s funding to $71.3m altogether in the process.
Workday Ventures had led Data.World’s $12m round in 2018, investing alongside media company Associated Press and crowdfunding platform OurCrowd.
Pat Ryan’s family investment vehicle led an $18.7m series B round for the company the previous year that included Chicago Ventures, Fyrfly, LiveOak, Hunt Technology Ventures, Shasta Ventures and Sherpa Asset Management.
Shasta Ventures, Capital Factory, Chicago Ventures, Floodgate, Fyrfly Venture Partners, Homebrew, Lead Edge Capital, LiveOak Venture Partners and Rothenberg Ventures are among Data.World’s earlier backers. Samsung Next, part of consumer electronics producer Samsung, lists it as a portfolio company but has not revealed when it invested.
