Last week on April 06, Crunchbase, the database spin-off of TechCrunch (and one of our favorite services here at DD) announced the closing of their Series B funding round with $18 million raised. “Crunchbase is the premier destination for discovering industry trends, investments, and news about hundreds of thousands of companies globally.” – I can’t say it better than that.
The financing round was led by new investors, Mayfield, and included participation from previous partners Emergence and AOL. California-based Mayfield is one of the oldest venture capital firms in the US and focuses “on early-stage to growth-stage investments in enterprise & consumer technology companies.”
Rajeev Batra, a partner at Mayfield stated, “The early success of Crunchbase Pro and its usability have given us a view into the ambitious vision and roadmap of increasing the breadth, depth, and accessibility of the high-quality data platform Crunchbase is creating. Crunchbase not only has a globally dominant position and brand, it has the potential to be a true platform company in becoming the actionable master record for company data.”
The company will be using the funds to continue work on their new service, Crunchbase Enterprise, which is a scaled-up version of last year’s release Crunchbase Pro, and Crunchbase Marketplace, a service launching later this year “which will see Crunchbase turn into a platform, where visitors can search and analyse not just Crunchbase data, but information from third-party sources that will complement and enhance it.” says Ingrid Lunden, a writer and editor at TechCrunch.With the launch of Enterprise and Marketplace, Crunchbase hopes to become “the master record of companies on the internet” says company CEO Jager McConnell, who went on to say, “Can we be the equivalent of LinkedIn for resumes or Facebook for friends? We think that with Crunchbase Enterprise, we are taking a novel approach to achieve that goal.”
When asked about the Series B financing round McConnell replied, “Looking at our own data, a Series B is one of the harder ones to raise. We were looking for a rough ride, but it was easy and fast for us. We had a lot of interest and folks competing.”
Mr. McConnell is the former VP of product at Salesforce who took the lead at Crunchbase following its departure from TechCrunch and owner AOL/Verizon in 2015. Since then, the relatively young company has gathered 27 million visitors per year on their free service, but still, have us waiting on the numbers for Pro.