Veridion’s database has gone from 80 million companies to 642 million in three years. Experian is feeding it into credit models.
Veridion has raised a $20m Series A led by Hoxton Ventures, with its existing backers Underline Ventures, OTB Ventures, GapMinder, Day One Capital and LAUNCHub all returning. The company sells a continuously updated graph of the world’s businesses to risk, insurance, procurement and market intelligence buyers.
Its own boilerplate puts the graph at 642 million companies across 249 countries, with 461 attributes each. The release rounds that to 640 million.
Hussein Kanji, Hoxton’s founder, said in the announcement that Veridion could become “one of the most important data companies in the world”. That is the bet, and the number underneath it has been moving quickly.
The argument Veridion is making
Stefan Gergely, the company’s head of growth, put the thesis plainly in the announcement.
“Information updated quarterly or annually is no longer intelligence. It’s history.”
He also asked why organisations are “still making billion-dollar decisions using data that’s months old”....
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