Live Data Technologies Raises Its Series A to Provide Multiple Verticals with Real-Time Job Change Data
January 11, 2023EIN Presswire
Live Data Technologies raised a $5M Series A to provide real-time job change data to multiple verticals, including investors, GTM teams, & developers.
The support from investors and customers is a testament to the strength of our business model as the first to market with a data set that allows us to service multiple billion-dollar markets.”SANTA BARBARA, CALIFORNIA, UNITED STATES OF AMERICA, January 10, 2023 /EINPresswire.com/ —
— Brent Peus, CFO & COO
It takes resources to build something great.
That is the principle underlying why Live Data Technologies raised our $5M Series A â€“ we are building something great at the frontier of job change data.
While we arenâ€™t big on celebrating fundraising (weâ€™ll save the champagne for liquidity events), we want to recognize the significance of the milestone and the opportunity it provides, and to (re)introduce ourselves.
Who We Are & What Weâ€™ve Been Up To
We started with a question: â€œCan job changes be tracked with info found on the open web?â€�
Since 2018, we have turned the open web into a continuously updated truth source for workforce data â€“ a night-and-day improvement over the manually-updated, static data of old.
Our patented tech is robust, works at scale, and has been implemented with multiple Fortune 100 companies over extended periods of time. Early customers include:
â€¢ Go-to-Market Teams looking to â€œchase their championsâ€� as they move jobs, unlocking revenue hiding in their CRMs
â€¢ Investment professionals seeking better data for investment decisions across venture capital, capital markets, and real estate
â€¢ Data vendors providing products and services that rely on having the most up-to-date data possible
Our core technology updates bad contact data to empower better sales and marketing efforts.
Data decays and goes stale, costing US businesses over $700B annually according to this report from Salesforce.com.
This is where we step in. Simply, we continually verify and correct B2B contact data for the people who use it most. To date, we have performed billions of contact verification transactions and helped our customers dramatically reduce their operating expenses and increase revenue.
In addition to our data hygiene services, we maintain a database and data sets covering 70M people at 2M companies â€“ updated in near real-time including over 30K daily job changes.
We are constantly working on providing more and better data delivery options so that those who rely on data accuracy and freshness can consume the data they need, how they need it.
â€œThe overwhelming support from investors and customers is a testament to the strength of our business model as the first to market with a data set that allows us to service multiple billion-dollar markets.â€� â€“ Brent Peus, CFO & COO
Why We Raised
Itâ€™s no secret that raising money in the current economic climate is hard.
While we have primarily funded our current growth with revenue, we raised this round when we saw the opportunities made possible by overwhelming investor interest and support.
We are excited to have incredible investors with the round led by Entrada Ventures and further participation from firms and individuals with deep backgrounds in data tech.
â€œWe have been behind Live Data Technologies since the companyâ€™s inception. The core technology has multiple compelling applications across industries and verticals. The accuracy and quality of job change event detection are mission critical to anyone making informed decisions.â€� â€“ Jason Spievak, Entrada Ventures Managing Partner & Live Data Technologies Board Member
With the new fuel to grow, here is a glimpse of whatâ€™s to come:
Building Our Team
Our lean team of 16 full-time employees is built around the idea that a small team of A+ players will outperform a big team of B and C players.
We intend to maintain this but recognize that building a great company requires more horsepower. We will be bolstering our team across sales, marketing, and technology to serve a rapidly growing customer base.
What Weâ€™re Working On
We are continuing to push hard on the product development front with two parallel-path goals:
1. Refining our self-serve DaaS offering
2. Constantly improving our data set and data delivery
While it may sound cliche, we are working on building products for anyone that requires better workforce data.
â€œOur Series A represents confirmation that we are building something valuable. We see it, our investors see it, and our customers see it. With this recognition comes a pressure to take Live Data to the next level â€“ and, in our eyes, pressure is a privilege.â€� â€“ J. Scott Hamilton, Founder & CEO