Import.io has closed a $15.5 million Series B funding round to accelerate global growth and expand its product offerings to meet the growing needs of enterprises.
Import.io’s solution is aimed at improving the data prep/analysis time ratio for data professionals. Current industry estimates say roughly 75-80% of their time is spent gathering and cleaning data with the rest left for analysis.
Talis Capital, a London-based venture capital firm, led the investment with participation from existing investors IP Group, OpenOcean, Oxford Capital and Wellington Partners. According to the vendor, this new capital infusion comes at a time when companies are urgently trying to become “data-driven” as a key part of digital transformation, and alternative data sources such as the web are seen as vital to gaining a competitive advantage. The web is the single largest data source on the planet, but traditional solutions for gathering that data are complex, unreliable, time-intensive and poor quality.
With 90% of the world’s data having been created in the last 2 years, the company says, demand for data-driven insights leveraging web data continues to escalate. Total spending on web data integration is estimated to hit $5 billion in 2019, according to Opimas Research.
For more information on Import.io, please visit: www.import.io.