Widening our lens, Monte Carlo is a good example of the current startup fundraising market. Sure, it’s not a perfect analogy, but it’s workable. That way when you steer, you aren’t accidentally driving in the wrong direction. If we think of data science as a steering wheel of sorts, data observability is the work of keeping the car’s windshield clear. Its software can detect various divergences from historical patterns, for example, alerting customers to which of their inbound data sources could be providing faulty information. More simply, Monte Carlo sits upstream from data lakes and the analytical tools that data scientists use to extract insights from reams of information.Īs TechCrunch noted at the time of the company’s Series B, by monitoring data ingestion for its customers, Monte Carlo can prevent crunched data from being skewed due to inbound issues. The company’s market is growing in tandem with the larger world of big data and data-focused analysis. Monte Carlo wants to pull on all available levers, she explained with the new capital, it’s going to hire more folks, build more product, support more use cases and take on new markets. She said that Monte Carlo is perceived as a market leader in its category and that she wants to build the biggest company that she can. Given the company’s dearth of impending cash-flow issues, we asked Moses why she raised more capital. Monte Carlo has raised $101 million to date, and, given Moses’s comment, has north of $70 million in cash on hand. According to Monte Carlo co-founder and CEO Barr Moses, she was on the receiving end of investor interest and still had the majority of her company’s Series B in the bank. There are other crowdfunding companies like Tilt, which TechCrunch previously reported raised at a $400 million valuation, and Indiegogo, but it seems clear that both investors and the company are interested enough to drive up demand for a stake in the company even further.However, as is common with young tech companies raising rapid-fire rounds of capital these days, Monte Carlo did not need the money. The company has seen 300 percent growth year-over-year in the amount of funds it has raised every month, according to our sources. So, it wouldn’t be a stretch to say GoFundMe was near to, or is, the largest crowdfunding site on the Internet. Most recently GoFundMe ran a string of campaigns centered around aid for victims of the Nepal earthquake.Īt the time that the company confirmed its funding round, our sources told us it was hitting around $100 million in funds raised through campaigns every month. The company seeks to focus more on aid and education, based on many of the campaigns that are seen on its site. We previously reported that GoFundMe’s latest funding round valued the company at around $500 million - though, also at the time, one of our sources said that the valuation could go beyond that. At the time, it was confirmed that Accel partners and Technology Crossover Ventures led the round, with Greylock and Meritech Capital Partners participating. We’ve also heard that Iconiq Capital, the firm that manages the personal wealth of executives like Mark Zuckerberg, has participated in this round of funding. Our sources have given us some additional information since crowdfunding site GoFundMe confirmed its funding round last week, saying that the company is now valued at around a range of $600 million to $650 million.
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