US-based collaboration software provider Mode has completed a $33m series D round that included REV Venture Partners, the investment vehicle for analytics technology producer Relx.
Growth equity firm HIG Growth Partners led the round, which also featured Valor Equity Partners, Foundation Capital and Switch Ventures. It took the company’s overall funding to $83m.
Founded in 2013, Mode has built software that streams the workflows of data analysts so it can inform work by other team members and facilitate collaboration. It claims more than 600 customers including over half of the Forbes 500.
The series D comes in the wake of recently launched features including Calculated Fields, which allows users to create new datasets by applying logic to existing data.
Derek Steer, co-founder and chief executive of Mode, said: “With this investment, we have ventured beyond “by analysts, for analysts” because the best analysts collaborate across the organisation.
“They empower anyone with analytical ambitions to easily make discoveries or simply satisfy their curiosity. In that sense, we cannot really be for analysts unless we are for everybody.”
Valor Equity Partners also led Mode’s last round, a $23m series C in February 2019 featuring REV Venture Partners and Foundation Capital. The latter two had joined Goldcrest Investments for the company’s $13m series B two years earlier.
Foundation Capital and Goldcrest participated in the series B round as existing investors. Mode’s earlier backers also included Formation8, Arnold Capital, Panorama Point and various individuals.
