InfoSum, a New York-based data collaboration platform, announced a $65 million Series B funding financed by UK-based VC Chrysalis Investments. The round brings the total amount raised to $90 million since the company’s inception in 2016.
Since the closing of InfoSum’s Series A in September 2020, the company has tripled its revenue, doubled its employee base, entered into multiple new markets, and signed more than fifty new customers. InfoSum will use the new funds to accelerate hiring across every aspect of the business, expand into new regions, and further the development of its platform. InfoSum has already set the industry standard for private and secure data collaboration. The company’s approach to customer data collaboration, called the ‘non-movement of data,’ has been validated by leading businesses increasingly focused on privacy, security, and the creation of owned customer identity platforms.
Global enterprises rely on the adtech startup to power privacy-safe data collaboration that drives better customer experiences, connecting customer records between and amongst companies, without ever sharing data. This customisable, customer-centric approach enables companies to unlock the full potential of their data, delivering better business outcomes while prioritising the privacy of consumers.
“The technology that enables companies to safely and securely compare customer data is thankfully entering a new phase, driven by privacy-conscious consumers and companies focused on value and control. InfoSum is proud to be leading the way,” said Brian Lesser, Chairman and CEO of InfoSum. “Companies are looking for solutions to help resolve the existing friction and inefficiencies around data collaboration, and InfoSum is the company to drive this growth forward.”
Nick Halstead, InfoSum Founder and CTO, added, “InfoSum recognised early on the need for new technology in data privacy. Now as the market leader in data collaboration, this investment from Chrysalis allows us to accelerate the development of our unique infrastructure and expand its innovative capabilities into new arenas.”
As a result of the investment, Chrysalis Investment’s Richard Watts will be added to the InfoSum Board.
Richard Watts, Chrysalis Investments portfolio manager said, ‘InfoSum exhibits one of the fastest scale-up revenue streams we have come across in the software space, and, we believe, addresses a significant market opportunity in a digitalised world. We are delighted to be partnering with InfoSum and look forward to working with Brian Lesser, Nick Halstead, and the rest of the InfoSum team to deliver on the possibilities of the technology.”
InfoSum was founded in 2016 in Basingstoke, the UK, with a vision to connect the world’s data without ever sharing it. The company has multiple patents, protecting its invention of the ‘non-movement of data.’ InfoSum is based in the US, UK and DE, with offices across Europe and North America.