European Data Platform, Dealroom, Aims To Improve Predictive Power
With a focus on improving the predictive power of the platform, Venture Capital data company, Dealroom, has raised €6M.
Although 2021 was a very painful year for many, yet it has brought a lot of success to European Startups. Another European, Amsterdam-founded startup, Dealroom, is ending 2021 on a very positive note. Because it has secured €6 million in the latest Series A funding round.
The series A funding round was led by Beringea. However, other existing investors which include Knight venture capital and Shoe Investments also participated. This funding has taken the overall funding of the startup to around €9M as it also raised €2.75 million in 2020.
The main goal of the company is to work with potential venture capitals, entrepreneurs, and other investment bodies and provide insights into venture capital activity. The startup works in three steps. First, it partners with private companies and collects data through pubic scraping and partnerships. Second, the data is analyzed and refined. Then it is made accessible to the company software to generate actionable predictions.
The startup diaspora is excelling at a remarkable speed. This means that the startup has a lot of opportunities to sell its services to emerging companies. The business model of the company is such that it sells its API to the business customers and government. Moreover, it also sells access to its platform to the users on a Software as a Service (SaaS) basis.
So, the revenue for the startup comes from three sides: investors, governments, and B2B companies. The operating model of the company is very innovative. The number of public bodies connected to the company using its APIs has quadrupled in recent years, and it has expanded to five continents. This is the reason that it has customers like Google, Microsoft, Accel, and so on.
There is no denying the fact that we are currently witnessing the age of data. The applications of big data are present from eCommerce to healthcare. This is the reason that data has become more important to businesses than it was ever before.
Story credits: TechCrunch