More than 500 companies already use Flatfile to exchange customer data; new offerings will allow companies to reduce data import and activation time by months
Flatfile, a pioneer in AI-assisted data exchange, today announced $50 million in Series B funding led by Tiger Global. Participating investors include Gradient Ventures, Scale Ventures, Workday Ventures, Afore Capital and Two Sigma Ventures with angel investors including founding executives and leaders of Airtable, DocuSign, LinkedIn and Gainsight. Bringing Flatfile’s current total funding to nearly $100 million, the round will enable the company to expand and support its fastest growing segment: global enterprise companies.
Data exchange — the process of taking data from one source and moving it to another — can take thousands of hours to complete. For enterprise companies, this can mean more than six months of thinking through the data so that the content and meaning doesn’t change during the switch – causing delays in customer entry, cost overruns and even lost customers. For product-led SaaS, where customers are often forced to learn how to clean and transform their own data, the problem often presents itself as missed opportunities.
500 software companies already acquire data from their customers and partners quickly and efficiently with the Flatfile platform. Finally, with Flatfile, companies can stop getting stuck trying to get and import data from outside. “With Flatfile, we were able to shorten development cycles and increase the usability of our data upload functionality to the delight of our customers.” said Ammiel Kamon, OpenGov CTO and Flatfile customer.
“Flatfile is just at the beginning of its journey to modernize the way data is exchanged,” said David Boskovic, CEO of Flatfile. “This funding will allow us to continue to grow our engineering team and provide ready-to-use data in Saas and beyond.”
Soon, Flatfile will release a major update that will allow developers to build directly on top of Flatfile’s underlying platform components – import, combine, merge, export – so they can put together all the pieces needed to move information to and from their system.
“Flatfile is the trusted name for inter-company data exchange,” said John Curtius, partner at Tiger Global. “Modern data exchange is a mission-critical challenge. Flatfile enables companies to simply, securely and efficiently exchange customer data with AI-assisted import flows, enabling all parties to accelerate return on investment.”
In just three years, Flatfile has built incredible momentum with a customer base that includes thousands of developers and 500 companies worldwide. The company has completed more than 25 billion data mapping decisions during data exchanges for industry leaders including Sage, ClickUp, Square, AstraZeneca, CBRE and Spotify.