Enterprise Data Exchange startup Harbr secured $38.5 Million funding

Harbr, a US-based enterprise data exchange company, has now secured $38.5 million in a Series A funding round.

Harbr is founded by Gary Butler in the year 2017.  The company offers private, cloud-based data exchanges that convert data into products that users can fund, share, use, and manage. The platform helps to facilitate the distributed data ownership and foster collaboration between the external and internal stakeholders.

CEO and co-founder, Harbr, Gary Butler, said, "Despite significant investments in data-focused technologies and teams over the last decade, most enterprises are still unable to deliver targeted outcomes from data in a timely and scalable manner. The secure data sharing and collaboration capabilities of Harbr’s enterprise data exchange platform fast-track those outcomes."

Partner at Dawn Capital, Evgenia Plotnikova, said, "For data to become truly powerful, we need more automation and collaboration. Today, human efforts are consumed by finding and preparing data, rather than focused on high-value activities that drive real productivity gains. Harbr is in the vanguard of companies changing this reality, and we are incredibly excited to be partnering with them. Customers we’ve spoken to find Harbr’s enterprise data exchange transformative, and their engagement across Fortune 1000 companies substantiates this."

The round was backed by Tiger Global Management and Dawn Capital along with the participation from existing investors which includes Boldstart Ventures, Seedcamp, Crane Venture Partners, and Mike Chalfen.

This new funding round increases the Harbr total investment to more than $50 million.

The company, as of now, has plans to use the new funds to expand its team, with client growth, sales & marketing to be centered in the US, while the United Kingdom is remaining the hub for R&D and engineering.