At the end of what’s been proven to be an immense year for European tech focus startups, a data and intelligence platform which focuses on startups and tech ecosystems – startup Dealroom has reportedly scored €6 million in Series A funding round.
The latest funding round was backed by Beringea, known as the transatlantic venture capital firm, the round also witness the participation from existing investors Shoe Investments and Knight Venture Capital. While over the past couple of years, the subject startup was reported to have been able to secure €2.75 million Series A funding in 2020.
Founded in Amsterdam in 2013, the data and intelligence platform is understood as one that works with prominent investors, government organizations, and entrepreneurs across the globe designed to offer transparency, analysis coupled with insights on venture capital activity. By offering data transparency in addition to the intelligence layer at the heart of tech ecosystems globally, the pioneering startup is poised to accelerate entrepreneurship and innovation which cuts across government, Venture Capitals, corporates, and founders.
In view of this development, Investment Director at Beringea ‘Maria Wagner’, 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”.
While in the meantime, top-tier investors actively spending in EMEA are currently using startups’ API, research, and software to identify the most promising startups from the moment they get on track. The company does not only function as a data provider to Venture Capital investors, instead, it rather seeing a growing number of clients precisely in the public sector – currently making up the subject startup’s greatest revenue source.
Moreover, governments are increasingly recognizing the power of startups from the angle of employment growth engine while noting the importance of the startup ecosystem in driving innovation. It’s also worth noting that since startup Dealroom completed its seed round two years ago, the number of public bodies connected to the startup’s API has reportedly quadrupled, currently standing at 50 across five continents. A source familiar with the matter has confirmed. However, these organizations in question are believed to be using Dealroom’s tools to measure and grow their ecosystems through custom dashboards, and the market’s most extensive API.
Having tripled its team to about 75 as a result of rapid growth, Dealroom has also made clear the fresh capital will be used to accelerate global roll-out, invest in data, and further broaden its mission aimed at creating the single source of truth for tech ecosystems notably in the entrepreneurial age.
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