Databento Secures $97M in Series B Funding Led by New Enterprise Associates

Databento, a leading market data platform, has successfully secured a $97 million Series B financing round. The funding was led by New Enterprise Associates (NEA) with participation from strategic and existing investors, including DRW Venture Capital, Redpoint Ventures, and Tribe Capital. Databento has experienced rapid growth, emerging as a top player in the fintech industry within three years of its launch.

The company has become the go-to market data provider for major financial firms and has achieved profitability with just 24 employees. NEA expressed confidence in Databento, with the firm's partners Rick Yang and Danielle Lay joining Databento's board. The funding will be utilized to expand Databento's coverage across asset classes and geographies, as well as to scale its infrastructure.

Databento plans to increase its data center presence to over 20 worldwide and has secured additional storage capacity to support its growth.