Flatfile Raises $7.6 Million from Two Sigma Ventures, Google’s AI Fund, and others To Make Data Onboarding Easy for Enterprises
The new funding will be used to accelerate customer acquisition and launch its new enterprise focused offering, Concierge.
Flatfile, known for its drop-in spreadsheet importer, announced $7.6 million in Seed funding led by Two Sigma Ventures, with participation from previous investors including Afore Capital, Designer Fund, and Gradient Ventures, Google’s AI-focused venture fund, as well as new investors HNVR, Work Life Ventures, Quiet Capital, Basecamp Fund, and Soma Capital. The funding coincides with the launch of Concierge, its newest product focused on data onboarding for large enterprises.
Founded in 2018 by David Boskovic (CEO) and Eric Crane (COO), Flatfile’s mission is to remove barriers between humans and data. The company’s software products focus specifically on solving the problem of data onboarding, the process businesses use to accept data from other organizations.
Boskovic adds, “This problem is so challenging that traditional data companies have ignored it for decades. That leaves data onboarding primarily in the hands of overwhelmed services teams. At Flatfile we’re coupling simple, human-focused experiences with advanced machine learning to exponentially accelerate the ability for organizations to adopt new technology.”
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“We’re already saving users more than 10,000 hours per month with AI-assisted, self-service data imports,” Crane said. “We knew we could apply that learning to more complex data transactions, where a single data onboarding project today takes weeks or even months.”
Flatfile’s new product, Concierge, is designed with enterprise-scale data onboarding in mind. It provides secure workspaces for collaboration between organizations, allowing customers to manage complex data ingestion challenges for the hundreds or thousands of organizations they serve. Concierge reduces the time and effort required to transmit, normalize, and validate complex data sets in a no-code environment that can be configured in minutes, all while retaining the benefits of Flatfile’s underlying data healing API.
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“Simplifying data onboarding is just the tip of the iceberg,” adds Frances Schwiep from Two Sigma Ventures, who started her career as a data scientist. “There are an infinite number of ways humans can upload bad data, and it happens all the time. Data sharing and collaboration remains a massive headache and unsolved problem within the enterprise. Flatfile’s Concierge platform has the potential to be an industry-defining solution.”
With Concierge, implementation and customer service teams no longer have to manually restructure, correct, and email data back and forth with their customers. Gone are the days of writing Excel macros, reconfiguring Python scripts, and poring through seemingly endless rows and columns of data. Concierge lends transparency, efficiency, and security to an enterprise data onboarding process from which they have long been missing.
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