GDPR and other data protection and privacy regulations — as well as a significant (and growing) number of data breaches and exposées of companies’ privacy policies — have put a spotlight on not just the vast troves of data that businesses and other organizations hold on us, but also how they handle it. Today, one of the companies helping them cope with that data in a better and legal way is announcing a huge round of funding to continue that work. Collibra, which provides tools to manage, warehouse, store and analyse data troves, is today announcing that it has raised $112.5 million in funding, at a post-money valuation of $2.3 billion.
The funding — a Series F, from the looks of it — represents a big bump for the startup, which last year raised $100 million at a valuation of just over $1 billion. This latest round was co-led by ICONIQ Capital, Index Ventures, and Durable Capital Partners LP, with previous investors CapitalG (Google’s growth fund), Battery Ventures, and Dawn Capital also participating.
Collibra was originally a spin-out from Vrije Universiteit in Brussels, Belgium and today it works with some 450 enterprises and other large organizations. Customers include Adobe, Verizon (which owns TechCrunch), insurers AXA and a number of healthcare providers. Its products cover a range of services focused around company data, including tools to help customers comply with local data protection policies and store it securely, and tools (and plug-ins) to run analytics and more.
These are all features and products that have long had a place in enterprise big data IT, but they have become increasingly more used and in-demand both as data policies have expanded, as security has become more of an issue, and as the prospects of what can be discovered through big data analytics have become more advanced.
With that growth, many companies have realised that they are not in a position to use and store their data in the best possible way, and that is where companies like Collibra step in.
“Most large organizations are in data chaos,” Felix Van de Maele, co-founder and CEO, previously told us. “We help them understand what data they have, where they store it and [understand] whether they are allowed to use it.”
As you would expect with a big IT trend, Collibra is not the only company chasing this opportunity. Competitors include Informatica, IBM, Talend, and Egnyte, among a number of others, but the market position of Collibra, and its advanced technology, is what has continued to impress investors.
“Durable Capital Partners invests in innovative companies that have significant potential to shape growing industries and build larger companies,” said Henry Ellenbogen, founder and chief investment officer for Durable Capital Partners LP, in a statement (Ellenbogen is formerly an investment manager a T. Rowe Price, and this is his first investment in Collibra under Durable). “We believe Collibra is a leader in the Data Intelligence category, a space that could have a tremendous impact on global business operations and a space that we expect will continue to grow as data becomes an increasingly critical asset.”
“We have a high degree of conviction in Collibra and the importance of the company’s mission to help organizations benefit from their data,” added Matt Jacobson, general partner at ICONIQ Capital and Collibra board member, in his own statement. “There is an increasing urgency for enterprises to harness their data for strategic business decisions. Collibra empowers organizations to use their data to make critical business decisions, especially in uncertain business environments.”