Windfall Data, Inc., a Sn Francisco, CA-based provider of solutions that determine the net worth of global households, raised $9m in venture capital funding.
The round was led by Bullpen Capital with participation from Bonfire Ventures, Industry Ventures, TenOneTen Ventures, ValueStream Ventures.
The company intends to use the funds to continue to expand operations and its business reach.
Co-founded in 2016 by Arup Banerjee, Cory Tucker, and Dan Stevens, Windfall Data serves nonprofit and for-profit organizations by providing actionable consumer financial data that is refreshed on a weekly basis. The company currently offers financial insights on 80 million U.S. households.
More than 400 organizations use it to identify and engage their most promising constituents.
Windfall leverages deterministic household-level data such as real estate transactions, court records, SEC filings, and other public-domain sources, partners with data vendors to fill gaps in the public record and, once a week, reconstructs its entire database of household net worth using machine learning and proprietary data science techniques.
In addition, Windfall provides contextual data about recent moves, births, weddings, IPOs, and other life events.
Nonprofit clients use it to understand their donors and to identify and engage high-potential philanthropists. Similarly, for-profit clients in financial services, luxury retail, hospitality, and travel use Windfall Data to identify and engage their ideal customers.
The solution works by integrating with platforms like Salesforce, Shopify, and LiveRamp.