Flatfile, a Denver, Colorado-based provider of AI-assisted data exchange, has raised $50 million in Series B funding led by Tiger Global. Gradient Ventures, Scale Ventures, Workday Ventures, Afore Capital, and Two Sigma Ventures also participated in the round, as did angel investors, including founding executives and leadership from Airtable, DocuSign, LinkedIn, and Gainsight.
After this round of funding, Flatfile’s total budget will be nearly $100 million, allowing the company to expand and support its fastest-growing segment: global enterprise companies.
The funds will be used to expand and support the company’s fastest-growing segment, global enterprise companies.
“Flatfile is just beginning its journey to modernize how data is exchanged. This funding will enable us to continue to grow our engineering team and deliver ready-to-use data across Saas and beyond,” said David Boskovic, Flatfile CEO.
Flatfile has gained incredible traction in just three years, with a customer base that includes thousands of developers and Fortune 500 companies worldwide.
During data exchanges for industry leaders such as Sage, ClickUp, Square, AstraZeneca, CBRE, and Spotify, the company has completed over 25 billion data mapping decisions.
Flatfile aims to enable seamless data exchange between companies
Flatfile eliminates repetitive work and ensures error-free B2B data exchange through a platform that automatically learns how imported data should be structured and cleaned, allowing customers and teams to spend more time using their data rather than fixing it.
Moving data from one source to another, known as data exchange, can take thousands of hours. For enterprise companies, this can mean spending up to six months reasoning about the data to ensure that the content and meaning are not altered during the exchange, resulting in delayed customer go-lives, cost overruns, and even client loss.
The issue manifests as missed opportunities in product-led SaaS, where customers are frequently forced to learn how to clean and transform their data.
Flatfile will soon release a major update allowing developers to build directly on its underlying platform components — import, match, merge, and export — to stitch together all the pieces needed to move data to and from their system.
“Flatfile is the trusted name for business-to-business data exchange. Modern data exchange is a mission-critical challenge. Flatfile enables businesses to exchange customer data securely and efficiently with AI-assisted import flows, enabling all parties to accelerate return on investment,” said John Curtius, partner at Tiger Global.