Founded in Belgium and now based in New York City, the company has raised a total of $233 million in venture capital. This latest round was led by CapitalG, Alphabet’s growth equity investment fund, and included money from previous investors Iconiq Capital, Index Ventures, Dawn Capital, and Battery Ventures.
“Now more than ever, we live in an economy where the most innovative companies are fueled by data. It has become our most valuable asset,” said Collibra CEO and cofounder Felix Van de Maele in a statement. “This investment is a testament to Collibra’s leadership and our ability to help customers transform their market proposition through data-driven insight. With this latest round, we are well-positioned to leverage our heritage in understanding data to help our customers utilize the most cutting-edge innovation to power their digital transformation journeys.”
Collibra’s tools allow companies to organize and make better use of the data they collect across the enterprise. By centralizing internal and external data on a cloud-based platform, Collibra aims to make it easier for employees to collaborate and gain a more well-rounded view into the company’s operations.
The startup says it will use the money to continue product development and hiring. That includes introducing more artificial intelligence (AI) and machine learning to the platform.
“We believe that every large organisation will have to adopt a data governance and catalog solution in the coming years, and with the latest funding Collibra is best positioned to capture that rising demand,” said Jan Hammer, an Index Ventures partner, in a statement.
“With Collibra, companies gain a full grasp of how data is captured and accessed, where it resides, how it is used, [and] whether they can trust it to make critical business decisions. And [they] attain the certainty that they comply with all relevant regulations. This is especially pertinent as the volume of data increases and concerns about privacy and data ethics take center stage.”