Databento raises $97M to take on Bloomberg’s terminal
Databento has raised $97M in Series B funding to build what it calls the market data platform for modern finance. The round was led by New Enterprise Associates, with DRW, Redpoint Ventures, and Tribe Capital joining. The company announced the raise on Thursday.
Demand ran well past the target. The round was oversubscribed, drawing more than $300M in interest, according to the company. That total takes Databento’s disclosed funding to roughly $127M three years after launch.
From hedge fund to data plumbing
Chief executive Christina Qi came to the problem the hard way. She co-founded Domeyard, a high-frequency trading fund that at its peak traded billions of dollars a day, Fortune reported. What slowed the fund down, she found, was rarely the strategy. It was the market data itself, and the operational mess of using it in production.
Databento was built to fix that. Its pitch is to shorten the...
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