The new funding will be used to make strategic hires and accelerate sales and brand presence. The round also saw participation from Quest Venture Partners, Acronym Venture Capital, Circadian Ventures, Two Lanterns Venture Partners, and APA Venture Partners. As part of the investment, Alex Finkelstein from Spark Capital will join Dataplor's board of directors. To date, the company has raised a total of $20.6 million.
Key takeaways:
- Dataplor, a company that uses AI and machine learning to index micro businesses in emerging markets, has raised $10.6 million in Series A funding led by Spark Capital.
- The company has over 100,000 human validators, called Explorers, who validate the data collected. The data includes information on over 15,000 brands in over 200 countries and territories.
- Dataplor licenses the data to companies in various industries, including logistics, real estate, and finance. More than 35 Fortune 500 brands already use Dataplor's services.
- The funding will be used to make strategic hires and accelerate sales and brand presence. The company has grown revenue by an average of 2.5x year-over-year since 2020 and is on track for profitability this year.