Summary
Databento, a market data platform for modern finance, raised $97M in a Series B funding round led by New Enterprise Associates (NEA), with participation from DRW Venture Capital, Redpoint Ventures, and Tribe Capital. The round was oversubscribed with $300M+ in total demand. Databento reached profitability with just 24 employees, grew revenue 6.65x year over year, and maintains 97%+ enterprise logo retention. The company serves 3,000+ firms including hedge funds, prop trading shops, and AI labs (including Nvidia as both customer and technology partner). The capital will expand coverage across asset classes and geographies, growing to 20+ data centers worldwide.
Key Facts
- Series B: $97M, led by NEA (Rick Yang joins board)
- Oversubscribed: $300M+ total demand
- Revenue growth: 6.65x YoY; profitable with 24 employees
- Enterprise retention: 97%+ since inception
- Customers: 3,000+ firms (hedge funds, prop trading, AI labs)
- Coverage: 70+ exchanges via proprietary feed handlers
- Infrastructure: 20+ petabytes of raw data, expanding to 20+ data centers
- Bloomberg terminal costs: $20K-$27K per seat/year
- Global market data spending: $50B+ in 2025
Why It Matters
Databento represents the most credible challenge to Bloomberg's terminal dominance in a generation. By owning the full market data stack end-to-end and offering programmatic API access, it targets a structural shift in how finance professionals consume data. The oversubscribed round and NEA's lead signal that venture capital sees market data infrastructure as a generational opportunity, especially as AI and agentic trading workflows demand machine-readable data feeds rather than terminal screens.