Nomad Data raises $3.2M seed round to help more businesses discover and manage data
Nomad Data, the data relationship management and discovery platform, today announced the closing of a $3.2 million seed funding round, led by Struck Capital. Also supporting the round are TenOneTen, Bloomberg Beta, Correlation Ventures, Flair Ventures, Mike Montero, Geek Ventures, Alumni Venture Group, and Firat Isbecer, the CEO of Commencis.
For organizations looking to enhance data-driven decision-making, Nomad Data quickly puts the right data into the right knowledge worker’s hands at the right time. This helps businesses unlock more value from data and make smarter decisions to drive revenue growth and cost savings.
Along with the seed funding round, Nomad Data announced this week the launch of two new solutions to help enterprises manage and discover data more broadly across their organization —Data Relationship Management (DRM) and the Enterprise Data Discovery.
Nomad Data’s DRM lets users track all interactions and relationships around data, internal and external, just like a customer relationship management platform. Centralizing all data relationships means easy monitoring of data evaluations across teams, avoiding duplicative spend, and being alerted to pending renewals and upcoming opt-out dates.
The Enterprise Data Discovery platform brings the power of data to an entire organization, providing accounts for anyone who can benefit from addressing their business problems with data. The platform connects users to the appropriate data in minutes, with designated reviewers triaging requests to existing datasets or turning to the Nomad Data network when no internal solution exists. Over time organizations build a database of every data use case across the firm, allowing central teams to search past data interactions, saving time and avoiding duplicative work.
“While the market size is large and quickly growing, there are numerous inefficiencies and problems, from data discovery, to qualification, contracting, management, and cross-team collaboration,” said Greg Stofman, Principal at Struck Capital. “Until Nomad, no product has been able to provide an end-to-end offering for external data sets that armed organizations with the ability to answer any business question in a centralized manner.”
“This fundraise will allow us to grow our team substantially and build more product to meet the insatiable demand of large businesses needing software to become data driven,” Nomad Data CEO, Brad Schneider said.
