Enterprise data governance startup Collibra has passed $1bn in value thanks to a Series E round led by the growth equity investment fund of Google parent company Alphabet.
CapitalG was joined by existing backers ICONIQ Capital, Index Ventures, Dawn Capital and Battery Ventures in the $100m investment round, which brings the company’s total venture backing to $233m.
The company’s AI and machine learning capabilities support data governance across areas including RegTech and wider FinTech, healthcare, retail and other tech industries.
Collibra said the funding comes on the heels of a record revenue year, with an 80 per cent increase in annualised recurring revenue and rapid expansion across the globe.
The company said it plans to extend its artificial intelligence and machine learning capabilities both within its cloud-native platform — building more automation into its smart catalog product — and in its support of data science teams for their own advanced analytics initiatives.
CapitalG’s Derek Zanutto said, “Collibra is putting organizations back in control of their data, helping them comply with changing legislation, embrace emerging technologies and capture the information that will enable them to design services and solutions built for the future.
“We look forward to partnering with Collibra and marrying Google and Alphabet’s machine learning and AI expertise with Collibra’s leadership in data collaboration, workflow management and risk management.”
Collibra co-founder and CEO Felix van de Maele added, “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. 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.”
Copyright © 2019 RegTech Analyst
Copyright © 2018 RegTech Analyst
