Having the tools one needs to do their job well is a no-brainer in every industry; however, some tools require more upkeep than others. One such resource is workforce data, something which professionals in finance, investments and business-to-business sales heavily depend upon. Live Data Technologies works to help companies keep their data updated, and it just raised fresh capital to further its solution.
Backed by lead investor Entrada Ventures, Live Data pulled in a Series A funding round of $5 million on Monday. The Santa Barbara-based company’s solution uses the open web to continuously update its dataset of contact information. It keeps track of 70 million employees’ data from 2 million companies. That set includes 30,000 daily career changes as well, according to the company.
Founded in 2018, Live Data has served a number of customers, including names on the Fortune 500. Some of its customers include go-to-market teams, investment professionals and data vendors. Its fresh capital will go toward enhancing its platform with a growing customer base in mind.
Offering a data hygiene tool alongside its job change dataset, Live Data plans to invest in product development. The company wants to refine its self-serve data-as-a-service offering and improve its data set and data delivery. To do so, Live data is expanding its 16-person team across sales, marketing and technology.
“Our Series A represents confirmation that we are building something valuable,” J. Scott Hamilton, Live Data’s founder and CEO, said in a statement. “We see it, our investors see it and our customers see it. With this recognition comes a pressure to take Live Data to the next level and, in our eyes, pressure is a privilege.”
