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Data-Sharing Platform Vendia Raises $30M Series B

Data-Sharing Platform Vendia Raises $30M Series B

05/31/22, 1:00 PM
Money raised
$30 million
Industry
payments
financial services
other
software
Round Type
series b
Vendia, a blockchain-based platform that makes it easier for businesses to share their code and data with partners across applications, platforms and clouds, today announced that it has raised a $30 million Series B round led by NewView Capital. Neotribe Ventures, Canvas Ventures, Sorenson Capital, Aspenwood Ventures and BMW iVentures also participated in this round, which brings the company’s total funding to $50 million.

Company Info

Company
Vendia
Additional Info
Since launching Vendia, the company added new customers like BMW, Aerotrax and Slalom, who use it to have a single source of truth for their multi-cloud data sharing with some of their partners. As Wagner noted, the company mostly focused on the financial services, travel and hospitality verticals so far, though with the new funding, it’ll likely look to expand to new verticals as well. Wagner also noted that the company recently launched a new product line around CRM data sharing and since the company is seeing a lot of traction around its file-sharing capabilities, it is also investing in that as well. The fact that it uses a blockchain to do so is somewhat secondary to this (and the company barely mentions it on its homepage), but it’s what allows the company to offer an immutable serverless ledger to its users to ensure data accuracy as well as provenance and traceability. With Vendia, we’ve been able to reinvent our business model to accommodate a frictionless customer onboarding experience and significantly reduced sales cycles.”The Vendia team tells me that the company currently has about 100 employees and the plan is to use the new funding to double that by the end of the year.Vendia raises $5.1M for its multicloud serverless platform Developers, meanwhile, won’t have to think about this blockchain part of the service as they only have to provide a JSON schema with the data model and Vendia will provide them with a GraphQL API to work with this data.