Web data integration solution provider Import.io has collected $15.5m in its Series B round of funding.
The capital injection was led by London-based venture capital firm Talis Capital. Contributions also came from existing backers of Import.io, which includes IP Group, OpenOcean, Oxford Capital and Wellington Partners.
With the new burst of funds, the company is looking to speed up its international growth and bolster its suite of products, in order to meet rising demands.
Over the past three years, the company has seen strong growth, the company claims. In 2018, Import.io released hundreds of new product capabilities and acquired 300 new customers, spanning the financial services, retail and consulting industries, and others.
California-based Import.io is a web data integration platform which helps businesses to drive insights and analytics from data. Its solutions can be used by companies for their risk management processes, such as fraud detection, know your customer onboarding and compliance, and conducting backgrounds checks on employees.
The solution is also used within the finance and insurance space as a way to model data for investment modelling, extracting information from news articles, monitoring customer reviews and visualising data.
Import.io CEO Gary Read said, “Businesses around the world are losing trillions of dollars due to lack of timely access to high-quality data. In fact, IBM estimates that poor-quality data costs businesses in the U.S. more than $3 trillion annually.
“Import.io is committed to providing timely, high-quality data with little-to-no customer resource requirements. We empower our customer base of more than 800 companies to make business-critical decisions based on the data we provide every day; and we back that up with an aggressive service-level guarantee.”
Earlier in the year, Talis Capital participated in the $5m funding round of compliance management company ClauseMatch.
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