Data intelligence unicorn Collibra has more than doubled its valuation after closing a new $112.5m funding round.
The RegTech, which was valued at $1bn in January 2019 after a $100m Series E round, has increased its valuation to $2.3bn.
Previous Collibra backers ICONIQ Capital and Index Ventures co-led the round along with new investor Durable Capital Partners. Other contributions came from existing backers Battery Ventures, CapitalG and Dawn Capital.
The company’s AI and machine learning capabilities support data governance across areas including RegTech and wider FinTech, healthcare, retail and other tech industries. Its goal is to help its customer base, which is currently at 450, improve their decision making through improved data intelligence.
Clients can improve their data privacy and protection, compliance and risk mitigation, operational efficiency, and cost reduction.
Financial institutions leverage Collibra meet compliance with regulations including BCBS 239, CCAR, Solvency II, DFAST and FINRA.
Matt Jacobson, general partner at ICONIQ Capital and Collibra board member, said: “We have a high degree of conviction in Collibra and the importance of the company’s mission to help organisations benefit from their data. There is an increasing urgency for enterprises to harness their data for strategic business decisions. Collibra empowers organisations to use their data to make critical business decisions, especially in uncertain business environments.”
Collibra has raised a total of $345.5m in equity since it was founded.
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