Databento Raises $97M in Series B To Expand Institutional-Grade Market Data To Crypto
Image: Primary Databento announced it raised $97 million in an oversubscribed Series B funding round led by New Enterprise Associates to expand its market data infrastructure platform, particularly into cryptocurrencies.
The round was oversubscribed by $300 million and included existing backers DRW Venture Capital, Redpoint Ventures and Tribe Capital. The company said the capital will be used to scale data infrastructure worldwide, expand to more than 20 data centers globally and add 100 petabytes of storage capacity.
Databento offers real-time and historical market data via an API with a pay-as-you-go model. Chief Executive Christina Qi founded the firm to remove procurement overhead she experienced at high-frequency hedge fund Domeyard LP. The platform currently delivers cryptocurrency futures data from CME and CFE and plans to integrate Binance spot, futures and options data.
NEA partners Rick Yang and Danielle Lay will join Databento's board. The company said it is profitable with 24 employees, serves over 3,000 firms globally and grew year-over-year revenue by 6.65x while maintaining a 97% enterprise logo retention rate.
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