Discovery Data collects investment from Northlane

Discovery Data, a data platform for financial services and insurance firms, has received an investment from Northlane Capital Partners.

The investment was made alongside the management team of Discovery Data.

US-based Discovery Data offers asset managers, wealth advisors, insurance companies, FinTech and service providers a SaaS-based data platform. Its solution has 2.3 million profiles on professionals and 40,000 on firms, and helps institutions to expand sales, improve marketing and find talent.

Services provided by Discovery include data hygiene, data feeds, CRM integration, marketing, and a call centre. Its data hygiene solution helps a business update and merge their existing systems to ensure everything is accurate and stored securely.

Through the new line of capital, the company hopes to enhance the quality and quantity of its data and pursue the best products for its customers.

NCP partner Sean Eagle said, “Our investment in Discovery Data presents an opportunity to leverage our experience in the information services sector and partner with a great company and talented management team. We are very pleased to welcome Discovery Data to the NCP portfolio and to support its future growth.”

Earlier in the week, Domino Data Lab, collected $40m in its latest round of funding which was supported by Sequoia and Coatue. The capital will be used to develop new products, hire new talent and grow its international presence.

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