Dealroom, a European startup and venture capital data company, has raised €6 million in a Series A round.
The fresh funding comes nearly two years after the company raised €2.75 million in early 2020. In North America, it competes with a variety of competitors, including PitchBook, CB Insights, and Crunchbase.
Beringea led the Series A round, which also included Knight Venture Capital and Shoe Investments, two earlier investors in the company. A blog website posed a series of questions to Dealroom founder and CEO Yoram Wijngaarde in order to gain a better understanding of the financing.
Business of Dealroom
Through public scraping and partnerships, the startup obtains data about private-market enterprises. The data is then cleaned and ran through Dealroom’s software to “uncover actionable forecasts,” as the company describes it.
As a result, Dealroom is made up of three interconnected parts: data collecting, cleansing, and synthesis.
It’s easy to see why it’d need more cash to deal with the massive surge of funding events that are sweeping the globe. Companies like Dealroom, for example, should be experiencing something like to boom times.
The private business landscape, which is their key market mandate, is rapidly increasing, and many new players are flush. Dealroom has a lot of work ahead of it — and a lot of people to sell it to.
The company makes money in a variety of ways, including selling access to its platform as a SaaS and providing an API for both business and government customers.
Customer research is also done by the company. According to Wijngaarde, the company has 50 government API customers that account for “about a third of [Dealroom] income.”
The CEO said Dealroom “sized” its new round around both “business needs” and the fact that it “didn’t want to get too far ahead of [itself] based on the availability of capital.” The founder added that Dealroom is also “fortunate to have strong growing revenue, coupled with healthy capital efficiency,” two things that would lower a near-term need for more capital, and therefore dilution.
To read our blog on MAX, a Nigerian mobility technology company, has raised $ 31 million in Series B funding, click here.
