Amsterdam-based Dealroom, a global provider of data and intelligence on startups and tech ecosystems, announced that it has raised €6M in a Series A round of funding.
The round was led by Beringea, the transatlantic venture capital firm, with participation from existing investors Knight Venture Capital and Shoe Investments.
Maria Wagner, investment director at Beringea, says, “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 policy makers need smart data and insights, which is what we found on Dealroom.”
“Having connected with Yoram (Dealroom’s founder), we were able to get to know the business remotely during the pandemic and lead this fundraising round. We’re looking forward to working alongside this exceptional team to reach their goals,” adds Wagner.
“Discover the world’s most promising companies”
Founded in 2013 by Yoram Wijngaarde, Dealroom is a data and software platform, providing worldwide intelligence about startups, innovation, and venture capital investment to governments, VCs, and individuals. It offers insights to publish reports based on research and data about startups, investment, funding, M&A deals, and socio-economic impact.
In addition, the platform also works with a combination of technology, data science, government, and manual data sources to build its expertise across different languages, local hubs, and ecosystems, and the fast-developing venture capital landscape.
Dealroom’s tools incorporate AI, natural language processing, data science, and APIs to identify and process relevant company information and insights in real-time.
The company says that the majority of top-tier investors actively investing in EMEA use Dealroom’s API, software and research, to identify promising startups from the moment they are conceived.
However, the company is not simply a data provider to venture capital investors, but also to a growing number of clients in the public sector, who are also its revenue source.
According to a statement from Bergingea, governments are recognising the power of startups as a job growth engine – in Silicon Valley 68 per cent of all workers are employed by venture-backed companies, a Dealroom analysis shows. For the entire US, that figure is 24 per cent, while the rest of the world lies in the low single digits.
The company claims that after its Seed round funding two years ago, public bodies connected to Dealroom’s API have quadrupled, currently standing at 50 across five continents. They use Dealroom’s tools to measure and grow their ecosystems via custom dashboards, and the market’s extensive API.
Capital utilisation
Dealroom has experienced fast pace growth recently. In the past two years, the team has tripled to about 75 people across more than 30 nationalities. Besides, the company is currently hiring for roles across data, AI, product, sales & marketing, and research.
The proceeds from this round will enable Dealroom to accelerate global roll-out, invest in data, and double down on its mission to create the single source of truth for tech ecosystems in the entrepreneurial age.
Yoram Wijngaarde says, “We’re only at the very beginning of our journey towards creating a blueprint of the digital & innovation economy. We’re currently integrating with more company registers globally, while also adding new layers of data including patents, university spinouts, people data and increasing the use of artificial intelligence to turn data into insights.”
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