Flatfile, the ground-breaking data for onboarding company, announced the funding of $35 million from Series A financing. It came from Scale Venture Partners and was backed by Workday Ventures and prior investors, including Afore Capital, Google’s AI-focused venture fund, Gradient Ventures, and Two Sigma Ventures.
Several top angel investors are investing during this round; you’ll discover the entrepreneurs of Box, Looker, and Segment. The Company’s total capitalization to close to $40 million. $42.6 million of it has been raised within the past year. The latest capital infusion will be used to speed up the expansion of the Company’s all-remote workforce and ongoing product development.
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Flatfile Raised $35 Million in Series A Capital Managed by Scale Venture Partners
Data onboarding company @flatfilers has announced that a $35 million Series A funding round led by @scalevp will fund talent acquisition and the continued innovation of data onboarding technology.
Flatfile is a software company that assists companies across the globe in simplifying the process of importing data. In everything from CRM (CRM) software and digital medical testing platforms, Flatfile’s customers can easily integrate the data, normalize it, and verify data from third-party sources -typically customers- and ensure that it is immediately accessible within their systems. The Company’s products automatically learn how data from third-party sources should be organized and cleaned, allowing customers to use more of their data rather than fixing it.
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To keep up with the growing demand for its services, Flatfile will use this investment to boost the number of employees it hires. Since its inception, Flatfile has focused on forming a world-class team dedicated to solving complex data issues, whatever location they are located. The founders, David Boskovic and Eric Crane believe that an all-remote team enables them to find the top potential talent on a large scale to provide seamless data transactions across every Company around the globe. They focus on hiring smart minds and self-starters and give them the benefits of a work environment focused on individual responsibility and distinctive workplace perks like a designer home office and rent stipend for those who work from home.
The Company has seen a significant increase in its growth within a short time, expanding Flatfile’s customer base to over 300 companies across the globe. The flat files team has helped to integrate and transform more than 700 million rows of data for companies such as Toast, HubSpot, ClickUp and Blackbaud.
“We invest in companies that are revolutionizing enterprise software and solving the commonly occurring but challenging issues by using data,” said Rory O’Driscoll, a Partner at Scale Venture Partners. “Flatfile’s solutions are essential for saving companies an enormous amount of time and effort when they attempt to eliminate the inefficiencies that come with data imports. The rapid growth of the Company proves it is a fact data onboarding segment is going to revolutionize data management, as well as improve the experience for customers “experience.”
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“We’re in the lead of addressing the issue that plagues companies across every industry around the world,” said Boskovic. “This is not just a huge market opportunity but can also create a stimulating working environment. Our team is developing the technology to enable and determine how each industry implements technology and exchanges data. This work is essential to accelerate innovation. We’re delighted to see investors such as Rory and Scale placing their trust in the amazing team working together to achieve this idea.”
