Companies increasingly use external data sources to fuel their analytics and predictions about their customers, markets and risks. But finding the right data sources amongst thousands of data providers, negotiating data contracts, tracking data spend and maintaining integrations remains a complex and time-consuming process.
Datarade is building a global platform that significantly simplifies, automates, and speeds up the sourcing and management of external data. The platform gathers intelligence on more than 1,500 data providers across the globe, automatically matches companies with relevant data providers and provides the tools to benchmark their data offerings. For enterprise clients that work with hundreds of data providers and external data streams, Datarade is developing a solution to track the usage of external data and to optimize data spend across the organization.
“The global data market is soaring but has become extremely complex and opaque. There’s a lingering distrust in data quality, privacy-compliance, and mostly gut decisions. Our mission is to remove friction and bring radical transparency and efficiency to the data market.” says Thani Shamsi, Co-Founder & CEO of Datarade.
Today, a wide range of companies from (re)insurance, technology, finance, pharma, retail, marketing and consumer goods use Datarade to source external data like firmographic data, satellite data, audience data, location data, alternative data and many other data types.
Simon Math, responsible Investment Manager at High-Tech Gründerfonds: “For us, the high value add for users on both sides of the platform was one major factor for an investment. The market insights that are generated through Datarade will significantly improve buying and selling processes. We are happy to partner with this great and passionate team on their journey!”
The seed investment will be used to grow the team in Berlin, further develop the technology platform, and increase adoption by both data buyers and data providers. Previously, Datarade was part of the SAP.iO Foundry powered by Techstars Accelerator and received a pre-seed investment from the Hasso-Plattner-Institute (HPI) Seed Fund.
Datarade was founded in Berlin in 2018 by Thani Shamsi, Florian Rösler, and Richard Hoffmann. Datarade’s mission is to make the global data market more transparent and efficient, enabling data hunters and data providers to connect and build trusted data partnerships across the globe.
About High-Tech Gründerfonds
High-Tech Gründerfonds (HTGF) is a seed investor that finances high-potential, tech-driven startups. With EUR 895.5 million in total investment volume across three funds and an international network of partners, HTGF has already helped forge more than 560 startups since 2005. Driven by their expertise, entrepreneurial spirit and passion, its team of experienced investment managers and startup experts help guide the development of young companies. HTGF’s focus is on high-tech startups in a range of sectors, including software, media, internet, hardware, automation, health care, chemistry and life sciences.
To date, external investors have injected over EUR 2 billion into the HTGF portfolio via more than 1,400 follow-on financing rounds. HTGF has also successfully sold interests in more than 100 companies. Investors in this public-private partnership include the Federal Ministry For Economic Affairs and Energy, the KfW Capital, and Fraunhofer-Gesellschaft e.V., as well as the companies ALTANA, BASF, BAYER, B.Braun, Boehringer Ingelheim, Robert Bosch, BÜFA, CEWE, Deutsche Post DHL, Dräger, Drillisch AG, EVONIK, EWE AG, FOND OF, Haniel, Hettich, Knauf, Körber, LANXESS, media + more venture Beteiligungs GmbH & Co. KG, PHOENIX CONTACT, Postbank, QIAGEN, RWE Generation SE, SAP, Schufa, Schwarz Gruppe, STIHL, Thüga, Vector Informatik, WACKER and Wilh. Werhahn KG.