Datarade GmbH, a Berlin, Germany-based startup providing a platform to allow companies to source external data efficiently, raised €1m in seed funding.
Backers included High-Tech Gründerfonds.
The company intends to use the funds to grow the team in Berlin, further develop the technology platform, and increase adoption by both data buyers and data providers.
Founded in Berlin in 2018 by Thani Shamsi, Florian Rösler, and Richard Hoffmann, Datarade is building a platform for companies to discover, compare and connect with already over 1,500 data providers across the globe.
The system simplifies, automates, and speeds up the sourcing and management of external data, gathers intelligence on more than 1,500 data providers across the globe, automatically matches companies with relevant data providers and provides the tools to benchmark their data offerings.
For enterprise clients that work with hundreds of data providers and external data streams, Datarade is developing a solution to track the usage of external data and to optimize data spend across the organization.
Today, a wide range of companies from (re)insurance, technology, finance, pharma, retail, marketing and consumer goods use Datarade to source external data like firmographic data, satellite data, audience data, location data, alternative data and many other data types.
Previously, Datarade was part of the SAP.iO Foundry powered by Techstars Accelerator and received a pre-seed investment from the Hasso-Plattner-Institute (HPI) Seed Fund.