Stardog, an enterprise data unification platform, has netted $9m in funding to support the launch of new products.
The capital injection was led by Tenfore Holdings with participation from Grotech Ventures, Boulder Ventures, and Core Capital.
With the new proceeds, the company is looking to launch new products and scale its go-to-market initiatives.
Stardog is looking to release a knowledge graph service to meet demands for increased automation and cloud deployment, it said. This will enable a hybrid cloud environment and optimal control and data management.
Additionally, capital is being used to hire staff in its engineering, customer success, sales, and marketing teams.
Stardog it’s a data management tool which uses graph, AI and virtualization technology to help clients generate deeper insights from information. Financial institutions can leverage Stardog to create a single platform for a holistic view of transactions, accounts, exposures, and interrelated risks.
Regulations including GDPR, MiFID II, SR-14, FSB2013b, FR Y-9C, CCAR, and BCBS 239 require visibility within a firm and market information. Stardog helps firms meet compliance with detailed data lineage, flexible data modelling, and performance capabilities.
Stardog CEO and founder Kendall Clark said, “Stardog solves the data silo problem that exists in every enterprise by connecting data no matter its format, location, or meaning. The result is deeper insight faster.
“Responding to customer feedback and market needs means we continually invest in talent and technology to help the largest companies make better decisions. We are thrilled to have Tenfore as a partner in our next phase of growth.”
In conjunction with the deal, Tenfore Holdings managing partner Dan Levine will join the Stardog board of directors.
With the close of the new funding, the data company has raised a total of $20m in equity.
Copyright © 2018 RegTech Analyst
