Databento, an emergent leader in the market data industry, has successfully secured an additional $10m in funding.
This latest capital injection brings the total for its Series A round to an impressive $30m, marking a significant milestone for the company.
The funding round includes contributions from previous stakeholders alongside new investors such as Belvedere Trading, Clear Street, Lightscape Partners, and several notable asset management firms. This diverse group of financial heavyweights underscores Databento’s position as a critical player in market data, catering to hedge funds, proprietary trading firms, banks, and brokerages.
Databento specializes in providing high-fidelity market data through a developer-friendly platform. Their services are designed to be easily accessible through well-crafted APIs, catering to a wide array of financial professionals. The company has rapidly gained recognition for its innovative approach to data consolidation and delivery.
The new funds are earmarked for several ambitious projects, including the rollout of new features and the expansion of Databento’s data coverage to include more European markets and global indices. The company also plans to introduce new pricing plans, which will offer more flexibility to accommodate its expanding customer base.
Investor enthusiasm is palpable, with representatives from Belvedere Trading and Clear Street highlighting Databento’s technological advancements and user-centric design as transformative for the market data sector. Additionally, Lightscape Partners commended the firm for its high-quality, scalable data solutions that serve the complex needs of today’s financial institutions.
Christina Qi, CEO of Databento, expressed gratitude for the support and outlined the company’s future direction. “With this investment, we’re eager to accelerate new feature rollouts and usher in the future of consolidated equities data feeds,” she said.
In previous funding rounds, Databento had already raised substantial amounts, setting the stage for this latest successful capital raise. The firm’s remarkable growth, including a 985% revenue increase and the addition of over 7,000 customers last year, has firmly established it as a formidable entity in financial data services.
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