Databento Raises $100M Series C at $1.1B for Market Data APIs, with 39 Employees
A unicorn with 39 people. Databento, a Salt Lake City market data platform, raised a $100M Series C at a $1.1B valuation, led by Fifth Down Capital, an early investor that first backed the company before it had revenue. NEA, DRW Venture Capital, Tribe Capital and Hedosophia joined, with nearly all existing investors participating. Release: https://www.prnewswire.com/news-releases/databento-raises-100-million-series-c-at-1-1-billion-valuation-302937375.html
The business is plain: clean, normalized financial market data delivered through an API, for quant trading firms, brokers, asset managers, commodities and crypto companies. The company says revenue more than doubled since its $97M Series B earlier this year and that it is profitable.
The AI line is the one to notice. Databento says it has signed enterprise contracts with five of the six leading frontier AI labs. It doesn't say what for, but the obvious guesses are training and eval data for finance tasks, and live data feeds for agents that analyze or trade.
Two rounds totaling nearly $200M in one year, at 39 heads, is the small-team story this site keeps writing about, from the other side. Databento is not an AI company. It is a data company that the AI labs and their agents need, and it got there without hiring like a legacy data vendor.
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The business is plain: clean, normalized financial market data delivered through an API, for quant trading firms, brokers, asset managers, commodities and crypto companies. The company says revenue more than doubled since its $97M Series B earlier this year and that it is profitable.
The AI line is the one to notice. Databento says it has signed enterprise contracts with five of the six leading frontier AI labs. It doesn't say what for, but the obvious guesses are training and eval data for finance tasks, and live data feeds for agents that analyze or trade.
Two rounds totaling nearly $200M in one year, at 39 heads, is the small-team story this site keeps writing about, from the other side. Databento is not an AI company. It is a data company that the AI labs and their agents need, and it got there without hiring like a legacy data vendor.
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