Copenhagen, Denmark, based startup CluedIn announced on 22nd April 2021 that it has raised US$ 15 million in its series A funding round. The round was led by Dawn Capital along with participation from Nordic Makers and angel investor Stijn Christiaens.
Investors: Dawn Capital is a London based venture fund founded in 2006 by Haakon Overli and Norman Fiore. It is an early-stage investment firm focused on enterprise software and the fintech sector. Besides providing capital, it also provides guidance and counselling to startups to enable them to scale their businesses into world-class models. Some of its portfolio companies include AccessFintech, Collibra, Gelato, Firstcare and more.
“The founding team at CluedIn has achieved something remarkable. Its incredibly strong tech team has developed a completely new approach to Master Data Management and the opportunity is vast, driven by the accelerating shift to cloud and ever-increasing pressure for enterprises to deliver faster and better data access and insights”—Mina Mutafchieva, senior principal at Dawn Capital.
Purpose of investment: With the latest round of funding CluedIn would be looking forward to expanding its business offerings, increase its team size in the sales and marketing departments and make an entry into the US market.
About CluedIn:
CluedIn was founded in 2015 by Kristian Magius, Martin Hyldahl, Pierre Derval and Tim Ward. It essentially is a master data management platform that seeks to take data management to the next level.
There are many things that set CluedIn apart from its competitors. One of its merits is regarding data integration. While traditional data management platforms ask you to manually wire systems together, CluedIn’s schemaless graph modelling system enables the model to be automatically inferred from the source systems themselves. What this essentially means is that every time a new data source is added to the existing model, the former automatically gets connected and integrated with all the existing data sources. With this there is tremendous potential for scalability and a lot of time can be saved.
Some of the advantages of using CluedIn are that it is a lot faster to implement, it greatly brings down the manual work required, it reduces the operational costs by up to 25% and it makes integrations look much easier.
What the CEO has to say:
“It’s been a fantastic journey so far. We’re delighted to have gained the recognition of leading industry authorities and partners, and the endorsement of some of the most forward-thinking global customers”— Tim Ward, co-founder and CEO of CluedIn.
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