$38.5m for London-based Data Exchange Harbr

Enterprise data exchange Harbr has raised $38.5m in Series A funding, and will use the money to scale up its team and accelerate onboarding of new customers. The firm doubled headcount in 2020 and says it plans to triple in 2021.

Harbr's platform converts its clients' data assets into self-service data products that are 'easy to find, use, customize and manage', allowing complete control over sharing and collaborating on data products internally and externally.

The new investment round was co-led by two new investors, specialist European B2B software investor Dawn Capital and Tiger Global Management; with participation from existing investors including Mike Chalfen, Boldstart Ventures and Crane Venture Partners. To date the firm has raised more than $50m.

Harbr says its customer growth, sales and marketing activities will be centred in the US, while the UK remains the hub for engineering and R&D investment. The company reports a particularly rapid increase in demand for its enterprise data exchange platform since the start of the pandemic.

According to CEO and co-founder Gary Butler: 'Despite significant investments in data-focused technologies and teams over the last decade, most enterprises are still unable to deliver targeted outcomes from data in a timely and scalable manner. The secure data sharing and collaboration capabilities of Harbr's enterprise data exchange platform fast-track those outcomes'. Evgenia Plotnikova, Partner at Dawn Capital, comments: 'For data to become truly powerful, we need more automation and collaboration. Today, human efforts are consumed by finding and preparing data, rather than focused on high-value activities that drive real productivity gains. Harbr is in the vanguard of companies changing this reality, and we are incredibly excited to be partnering with them'.

Web site: www.harbrdata.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.