Denver-based tech startup Flatfile closes $35M Series A funding to make it easier for companies to onboard data
Flatfile, a Dever, Colorado-based data onboarding software startup, announced a $35 million in Series A funding to grow its all-remote team to meet the increasing demand for its solutions. The round was led by Scale Venture Partners, with participation from Workday Ventures. and previous investors including Afore Capital, Google’s AI-focused venture fund, Gradient Ventures, and Two Sigma Ventures.
Other backers include a list of angel investors such as founders of Box, Looker, and Segment. The latest round brings the company’s total funding to nearly $45 million, $42.6 million of which has been raised in just the last year. This latest infusion of capital will be used to accelerate the company’s expansion of its all-remote workforce, along with continued product development. Flatfile currently has 31 employees, 14 of which are in Denver. Following this round, Flatfile expects to hire at least 100 people by 2022.
Founded in 2018 by David Boskovic and Eric Crane, Flatfile’s software makes it easier for companies to onboard data. From customer relationship management (CRM) tools to digital clinical testing platforms, Flatfile’s customers can easily ingest, normalize, and validate data from third parties — usually customers — ensuring it’s instantly usable in their systems.
Flatfile’s software learns how imported data from third parties should be structured and cleaned, enabling customers to spend more time using their data. Flatfile’s products automatically learn how imported data from third parties should be structured and cleaned, which enables customers to spend more time using data as opposed to fixing it.
Founders David Boskovic and Eric Crane believe an all-remote team allows them to source the best possible talent at scale to support Flatfile’s vision to enable seamless data transactions between every organization in the world. They prioritize hiring smart minds and self-starters and reward them with a workplace culture that focuses on individual ownership and unique work perks, such as a designer home office and a work-from-home rent stipend.
The company has built strong momentum in a short period of time, growing Flatfile’s customer base to more than 300 companies from around the world. The company’s team has now helped onboard and transform over 700 million rows of data for companies like Toast, HubSpot, ClickUp, and Blackbaud.
“We invest in businesses that are revolutionizing enterprise software and solving common, yet challenging, problems with data,” said Rory O’Driscoll, Partner, Scale Venture Partners. “Flatfile’s solutions are vital for saving companies an extraordinary amount of both time and effort as they work to overcome the daily inefficiencies associated with importing data. The company’s rapid growth serves as evidence that the data onboarding category will be transformative for data management as well as the overall customer experience.”
“We’re at the forefront of solving a problem that plagues companies in every industry across the globe,” said Boskovic. “This not only creates massive market potential but also makes for an exciting work environment. Our team is building the technology that will enable and define how nearly every industry adopts software and exchanges data. This work is critical to accelerating innovation and we’re excited to have investors like Rory and Scale betting on the incredible team that’s coming together around this vision.”