We launched People Data Labs in 2015 with a single mission; to use data to empower the engineers, developers, data scientists, and all the people building the products of tomorrow. Since that time we’ve seen our high-quality B2B data power everything from talent recruiting platforms to sales and marketing tools. We’re incredibly proud of that growth, and of the innovative work we’ve enabled over there years, and it’s on that basis that we’re thrilled to embark on a new chapter.
Today, we announced $45 million in new series B funding from Craft Ventures and Flex Capital. We’re committed to using this new funding to build the next generation of People Data Labs. We’ll grow our team, expand the products our customers rely on, and break new ground in the data-as-a-service space. We’re excited about the future, and we want to share a little more about what we have planned.
What does this mean for us?
In a word, growth. Since 2015 People Data Labs has grown from a single idea shared by two founders, into a thriving team of 80 focused on building the data-enabled future of business. These new funds will allow us to grow that team to meet the demands of our expanding range of offerings. We’ll double our staff in 2022 with a focus on hiring top engineering and data talent to help us envision and build new products for some of today’s most important industry verticals.
Top of mind for us in 2022 will be fintech. Over the last decade, this fast-growing sector has enabled some of the most significant transformations in our economy by allowing businesses and consumers to access complex financial services digitally without needing to engage with brick-and-mortar financial institutions. However, there’s one factor that still limits the explosive growth of fintech, and that factor is identity. Traditional definitions of identity tied to things like social security numbers and commercial credit bureaus don’t provide the level of verifiable identity support needed to take financial services truly virtual. PDL will invest heavily in powering a new layer of identity grounded in fraud-free professional and B2B data that can accelerate the delivery of financial services, mitigate risk, and ensure fast, safe, fraud-free transactions.
We’ll also double down on insights. We’re living in a time of unprecedented innovation and expansive capital markets. It’s never been more important for investors and businesses to understand other businesses. In 2022 we’re focused on delivering high-quality insights products that will allow investors and other business leaders to leverage professional and B2B data to better understand competitors, partners, and potential investments by charting the growth, structure, and career provenance of their teams.
What does this mean for you? The same service you’ve come to expect, only better. PDL will remain focused on expanding and growing the quality of all of our existing offerings and supporting all of our current use cases. To that end, we’ll be investing in new product and customer support to ensure that all of our existing users continue to experience the same level of dedicated service and remain on the forefront of the data revolution. The PDL of tomorrow will be just as committed to your needs and to identifying new data-driven opportunities for your business.
None of what we’ve achieved thus far, nor what we plan to achieve, would be possible without our customers. We set out to empower builders and in turn, they’ve empowered us. We’re honored and humbled by our community of developers, engineers, data scientists, and product professionals who’ve shared in our vision for a data-enabled future. We can’t wait to continue building with you.
To learn more about our Series B, read the full release here
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