Harbr raises $38.5M Series A to bring a data exchange to every enterprise
LONDON – Harbr, the enterprise data exchange company, today announced a $38.5M Series A investment round co-led by new investors Dawn Capital and Tiger Global Management. Previous investors Mike Chalfen, Boldstart Ventures, Crane Venture Partners, Backed and Seedcamp also participated, as did UiPath founder and CEO, Daniel Dines, and head of strategy, Brandon Deer. This new funding increases Harbr’s total investment to date to more than $50M.
Amid the accelerated pace of digital transformation spurred by the effects of COVID-19, Harbr has experienced a rapid increase in demand for its enterprise data exchange platform. This mirrors the growth predicted by Gartner, who expect enterprise adoption of data exchanges to increase by 40% from 2020 to 2022.1
“Despite significant investments in data-focused technologies and teams over the last decade, most enterprises are still unable to deliver targeted outcomes from data in a timely and scalable manner. The secure data sharing and collaboration capabilities of Harbr’s enterprise data exchange platform fast-track those outcomes,” said Gary Butler, CEO and co-founder, Harbr.
Harbr helps enterprises realize the full value of their data by generating new insights, improving decision making and monetizing data. Its private, cloud-based data exchanges convert data into products that are easy to find, use, share and manage. The Harbr platform facilitates distributed data ownership and fosters collaboration between internal and external stakeholders. Collaborators can share the results of their efforts as custom data products on the data exchange, replacing one-off processes with repeatable cycles of value creation. Harbr maximizes existing investments in data lakes, warehouses and analytics and data science tools by making data easily accessible to the right people to address dynamic business needs.
“The Harbr enterprise data exchange platform allows us to quickly and easily create and customize data products to streamline access and consumption for both customers and our internal users,” said Michael Salk, managing director of content distribution at Moody’s Analytics.
“For data to become truly powerful, we need more automation and collaboration. Today, human efforts are consumed by finding and preparing data, rather than focused on high-value activities that drive real productivity gains,” said Evgenia Plotnikova, partner at Dawn Capital. “Harbr is in the vanguard of companies changing this reality, and we are incredibly excited to be partnering with them. Customers we’ve spoken to find Harbr’s enterprise data exchange transformative, and their engagement across Fortune 1000 companies substantiates this.”
Harbr will use this new investment to scale its team so it can onboard new enterprise customers at an accelerated rate. After doubling in size in 2020, the company plans to triple its number of employees in 2021. Customer growth, sales and marketing will be centered in the US, while the UK remains the hub for engineering and R&D investment.
1 “Gartner Top 10 Trends in Data and Analytics for 2020,” Gartner, October 19, 2020.
About Harbr
Harbr empowers organizations to unlock more value from data and to accelerate data-driven outcomes with enterprise data exchanges. The Harbr platform converts data assets into self-service data products that are easy to find, use, customize and manage. The platform provides granular control of sharing and collaborating on data products internally and externally. Harbr delivers the blend of simplicity and control that enterprises demand, while enabling them to generate new insights, improve decision making and create business advantage from data. Harbr is headquartered in London and backed by Dawn Capital, Tiger Global Management, Mike Chalfen, Boldstart, Crane Venture Partners, Backed, Seedcamp and others. Learn more at www.harbrdata.com.
About Dawn Capital
Dawn is Europe’s leading specialist B2B software investor, with assets under management of $1bn. The firm partners with innovative companies that, through exceptional teams, products, and business models can become category-defining, global titans. Dawn is an early-stage investor, backing companies at Series A and B, and continuing to fund the best-performing from growth rounds through to exit. Its roster of investments includes Mimecast (now NASDAQ-listed with a c.$3.0bn market cap), iZettle (sold to PayPal for $2.2bn cash), Collibra, Showpad, Dataiku, Templafy, Quantexa, and Tink, amongst others. Read more at dawncapital.com.
