Today, we announced the closure of a $38.5M Series A investment in Harbr. Dawn Capital and Tiger Global Management, two of the premier global venture capital firms, co-led the round. They were joined by a slate of existing investors, including Backed, Boldstart, Mike Chalfen, Crane and Seedcamp, who continue to demonstrate their confidence in Harbr. And we are also fortunate to add UiPath executives Daniel Dines, founder and CEO, and Brandon Deer, head of operations and strategy, as investors.
This is a tremendous milestone for our company for many reasons. It validates the sizable market opportunity in front of us, the approach and platform we’ve built, and the team that will lead our next phase of growth. I want to touch on each of those briefly.
Anthony Cosgrove and I founded Harbr in 2017 after seeing how challenging it was for enterprises to generate value from their data. They faced a myriad of obstacles ranging from finding the right data, to getting access to it, to making it usable. And while the pain was evident to all, the cure was not.
Our approach to the enterprise data exchange turns existing data management paradigms upside down. The priority shifts from aggregating and organizing data to making it consumable across the enterprise (and extended enterprise). At the same time, ownership of data moves from centralized to decentralized, made possible by converting one-off processes into automated, repeatable cycles.
Not only did we introduce a new category of technology to the enterprise, but it also required an evolution in mindset and organizational dynamics. This disruptive approach was a gamble for a start-up, but a necessary one. Today, that gamble is paying off in a big way as the world’s largest enterprises are seeking out Harbr to ensure their people can easily find and access the data they need to deliver real-world outcomes.
The momentum we’ve seen since launching the Harbr enterprise data exchange platform in May 2020 has exceeded even our expectations. As we’ve engaged with many of the world’s most well-known companies, it has become clear that while their business objectives vary, their challenges are fairly consistent — and those challenges can consistently be overcome with an enterprise data exchange.
We intend to use our Series A investment to onboard and support the success of new customers as enterprises quickly embrace data exchanges. Our plans for 2021 include ramping our go-to-market efforts in North America, ensuring the platform can be deployed in any customer cloud, and tripling the size of our overall team.
Speaking of team…there is nothing more important to me than creating a great place to work that’s filled with people who are great to work with. I couldn’t be more proud of the team we’ve built to date and the unwavering commitment they’ve demonstrated to our customers. We expect to scale fast, but never to sacrifice the culture and values we covet as a company and leadership team.
So, thank you to the Harbr team and to our investors, advisors and customers for being part of our journey so far. We are on the precipice of revolutionizing the data landscape and I am so grateful that we get to do it together.