Data and intelligent platform Dealroom.co has managed to raise €6 million in a Series A funding round led by Beringea. Existing investors Knight Venture Capital and Shoe Investments have also saw participation. The capital will be the cause of a global acceleration, which means the firm will be also investing in data. The latest Series A comes after another €2.75 million back in early 2020 (not so long ago).
Founded in Amsterdam in 2013, Dealroom provides market intelligence to startups, investors & corporates to stay ahead of their competition, helping new investors and tech companies connect with each other and share data, with its database already competing with a number of rivals in North America, including PitchBook, CB Insights, and Crunchbase. The platform operates across all investment stages, from seed-stage to late growth-stage.
The startup collects data on private-market companies through public scraping and partnerships. Then, the resulting data is cleaned and run through the company’s software to “uncover actionable predictions,”. In this way Dealroom.co enables investors to track companies’ progress and decide the appropriate time to invest in them. Entrepreneurs are able to control investment interests and use Dealroom.co as their official channel for outgoing information to potential investors.
Dealroom founder and CEO Yoram Wijngaarde explained: We count data collection in part as cost of revenues and in part as product development in operating expenses. We also do a lot of human-led research, which is counted as cost of revenue, but also could be seen as cost of marketing, as this results in a lot of content marketing.
Maria Wagner, Investment Director at Beringea, commented: “Our interest in Dealroom was first sparked by our love for the product. As the European tech ecosystem increases in size and complexity, investors, innovators, and policymakers need smart data and insights, which is what we found on Dealroom.”
Source: TechChrunch “Dealroom raises €6M Series A for its startup data, market intelligence service”