Iconiq Capital has led a successful $50m Series C funding round for Collibra, a company that provides data governance software for business users.
Bringing its total finance raised to $75m, the latest $50m round from Collibra is poised to help the company fuel its “rapid growth and industry leadership” in the data governance space.
“Data’s day has come,” said Felix Van de Maele, CEO and co-founder of Collibra. “And with that, organisations have recognised that data can only be leveraged as a strategic resource to the extent it can be accessed and, most important, trusted.”
Calling the funding a “tremendous validation” of his company’s work, Van de Maele said Iconiq’s Matt Jacobson is joining the board of Collibra as part of the deal.
“[Jacobson’s] experience and insights working with some of the world’s premier high-growth companies will be invaluable to our continued expansion.”
TechCrunch reports that the valuation of the company could be spiking to $650m on the back of this round, though the company has yet to confirm this.
The round was led by San Francisco-based Iconiq Capital, with participation from investment firm Battery Ventures and return backers Dawn Capital – which got involved in 2015 – Index Ventures and Newion Investments.
“Collibra was born to address a real problem: how enterprises can meaningfully leverage data to transform their businesses,” said Jacobson.
“We have been very impressed with how large, sophisticated customers have spoken about the strength of Collibra and its emerging market leadership. I’m personally excited to work hands-on with Felix and his team to support their continued success.”
“Data is clearly now a strategic asset for companies across industries,” said Battery’s Dharmesh Thakker, who will join the board as an observer. “As more and more organisations hire chief data officers, Collibra gives them the tools to better leverage data for competitive advantage.”