DataGrail has successfully raised $84 million over four funding rounds, attracting significant interest from prominent investors. The platform specializes in data privacy management, helping businesses navigate complex regulations and build customer trust.
Keep reading to explore the intricacies of DataGrail's fundraising journey and the investors backing this innovative platform.
What Is DataGrail?
DataGrail, founded by Ignacio Zendejas and Daniel Barber, is headquartered in San Francisco. The company specializes in data privacy management, offering a platform that automates and scales compliance with regulations like GDPR, CCPA, and CPRA.
With a team of 51-200 employees, DataGrail helps modern brands build customer trust and transparency. The platform features over 900 pre-built connections to detect shadow IT and ensure accurate data discovery.
DataGrail serves millions of consumers through companies like Overstock, Restoration Hardware, and NETGEAR. The company is highly rated on platforms like Glassdoor and G2, reflecting its strong leadership and positive work culture.
How Much Funding Has DataGrail Raised?
- Seed Round
- Amount Raised: $4,000,000
- Date: September 2018
- Lead Investors: Cloud Apps Capital Partners
- Motivation Behind the Round: To keep enterprises GDPR compliant.
- Series A Round
- Amount Raised: $5,200,000
- Date: July 2019
- Lead Investors: Cloud Apps Capital
- Motivation Behind the Round: To address data regulation at a local level.
- Series B Round
- Amount Raised: $30,000,000
- Date: March 2021
- Lead Investors: Felicis Ventures
- Motivation Behind the Round: To help organizations comply with privacy regulations and support company growth.
- Series C Round
- Amount Raised: $45,000,000
- Date: October 2022
- Lead Investors: Third Point Ventures
- Motivation Behind the Round: To support the development and launch of the new Risk Monitor tool.
Total Amount Raised: $84,200,000
Current Valuation: $16 million (~estimated)
Key Investors
- Felicis Ventures
- Details: Felicis Ventures is a venture capital firm that invests in early-stage technology companies. They have a strong track record of backing successful startups.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Shopify, Fitbit, Credit Karma.
- Operator Collective
- Details: Operator Collective is a venture capital firm that focuses on enterprise software and technology companies. They emphasize diverse leadership within their portfolio companies.
- Investment Focus Areas: Enterprise software, technology, diversity-focused startups.
- Notable Investments: Ironclad, LaunchDarkly, WorkBoard.
- Okta Ventures
- Details: Okta Ventures is the investment arm of Okta, a leading identity and access management company. They invest in companies that align with their mission to enable secure access for organizations.
- Investment Focus Areas: Identity, security, privacy technologies.
- Notable Investments: Auth0, Beyond Identity, Trusted Key.
- HubSpot Ventures
- Details: HubSpot Ventures is the corporate venture arm of HubSpot, a leading CRM platform. They invest in companies that can help their customers grow better.
- Investment Focus Areas: Marketing, sales, customer service software.
- Notable Investments: Drift, G2, Terminus.
- Third Point Ventures
- Details: Third Point Ventures is the venture capital arm of Third Point LLC, a hedge fund. They focus on technology and innovation-driven companies.
- Investment Focus Areas: Technology, innovation, growth-stage companies.
- Notable Investments: SentinelOne, Upstart.
What's Next for DataGrail?
DataGrail's future looks promising with the launch of their new automated risk assessment tool, Risk Monitor. This tool, combined with their expanding data privacy control center, positions them to capitalize on the growing demand for automated compliance solutions. The company has already tripled its revenue and increased its workforce, indicating a strong market presence and readiness for further growth.
With the successful Series C round, DataGrail is well-positioned for future fundraising opportunities. They may attract additional investments to support their expansion and technological advancements. However, they will need to navigate economic uncertainties and rapidly evolving privacy regulations. Ensuring the scalability and reliability of their tools will be crucial as they continue to grow.
Use Clay to Get Funding Data
Sales professionals, take advantage of Clay's platform to access comprehensive fundraising data on companies like DataGrail and gather other critical business insights.
Sign up for free on Clay and elevate your sales strategy today.
