InCountry, a US-based creator of a residency-diverse data software platform backed by media company Bloomberg, has raised $15m in series A funding, TechCrunch reported yesterday.
Abu Dhabi’s sovereign wealth fund Mubadala, Arbor Ventures and Global Founders Capital co-led the round, investing alongside Caffeinated Capital, Felicis Ventures, CRV, Team Builder Ventures and several undisclosed investors.
InCountry helps multinational companies comply with regulations, such as GDPR, by providing infrastructure that enables customers to store and retrieve data in its country of origin. The company also runs a compliance consultancy business.
Part of the new capital will be used to fund the launch of InCountry Boarder, a platform that is designed to store data inside specific jurisdictions. Remaining proceeds will be used to fund the company’s international expansion plans.
Bloomberg’s data-focused investment arm, Bloomberg Beta, took part in the company’s $7m seed round in May 2019, alongside Caffeinated Capital, Felicis Ventures, Ridge Ventures, CRV, Global Founders Capital, Parade Ventures, MState and assorted angel investors.