8 June 2023 – delphai announces a $5 million funding round (including a $1 million grant from the German government) to finance our groundbreaking AI models that are specifically trained to understand the international business landscape. Using delphai’s API-first approach, data teams, global consultancies, M&A departments, and most importantly digital sales and CRM teams, have access to reliable firmographic data on tens of millions of businesses worldwide, saving thousands of hours and ensuring record quality and freshness.
The round was funded by Newion, Airbridge Equity Partners, and existing investors Hyle Ventures and Trafo Investment / Millennium Venture Capital.
With the power of AI, delphai revolutionizes big data and ingests millions of websites, press releases, job postings, and more every week to create a single source of business truth: A near real-time, highly accurate hub of company data that is accessible via a dashboard, API, or integration. delphai is positioned to be a firmographic intelligence leader, boasting a database of over 20 billion data points with record accuracy rates and the highest refresh rate on the market.
delphai is one of the first to deploy AI for data acquisition and generation at such a scale, separating the company from traditional firmographic data providers who buy data from government registries and utilize simple web scrapers. Whereas our competitors rely on human click workers, we have developed frontier Natural Language Processing systems that automate and trace every step.
Firmographics are information that can be used to categorize firms by a host of identifiers — such as business activity, products or services offered, location, employees, industry, ESG/SDG monitoring, etc. A lack of reliable, up-to-date information about market players leads to bad decision-making that negatively impacts top and bottom-line revenue.
delphai operates in the firmographic data market, also known as Global Enterprise Data Management, which has been valued at $93 billion in 2022. By 2030, the market is expected to grow to $240 billion, with AI being the game-changer for Big Data. According to an MIT report on data quality, 15-25% percent of company revenue is lost due to bad data. In addition, analysts spend 80% of their time on data cleaning and collection.
Our company saw outstanding growth figures in 2022: With over a 100% increase in recurring revenue and 40% of our revenue coming from the United States. Our biggest clients include three of the Big4, top-tier strategic advisories, strategy and M&A departments, and sales and data teams at blue chip companies, globally as well as many German hidden champions. There are multiple reasons for this adoption, the key amongst which is our highly granular data, enhancement of existing (stale) data, and application of tailored AI models for customers.
The team is led by co-founder and CEO, Dr. Robin Tech, co-founder and COO, Konstanze Neumann, Head of Growth and Partnerships, Allison Graul, and Head of Strategy and Business Development, Nikolaus Grefe. The team is dedicated to providing unmatched data quality with a state-of-the-art firmographics hub.
“Securing this round of funding underscores our commitment to revolutionize the way businesses make decisions. The next generation of decision engines demands a new breed of data — one that is fresh, granular, and effortlessly integrated into business processes. With this investment, we are primed to harness the power of AI and process exponentially more data than ever before. Our focus remains steadfast on empowering companies with the accurate and reliable firmographic data they need to thrive in today’s competitive landscape.” Dr. Robin Tech, co-founder and CEO, delphai.com
Due to recent developments in machine learning, delphai is positioned quite differently from other market players. While companies like Dun & Bradstreet cover basic firmographic data, delphai boasts a unique combination of AI that allows us to fuse internal and external data to generate signals and intelligence.
After validating our data coverage with large enterprise clients (like Audi and Siemens) in the strategy and M&A space, delphai moved toward an integration-first approach driven by APIs to enable faster data adoption for potential clients and open up to new markets.
Together with Airbridge Equity Partners and Newion, Jens Rassloff will be part of the newly formed board, which he will chair. As a founder himself and long-term Senior Partner of KPMG, Jens brings a wealth of knowledge and experience in the technology and consulting industries, specifically in the areas of business performance, growth, and partnering strategies.
“We are delighted to be part of delphai’s funding round and support their groundbreaking AI models. Their API-first approach and reliable firmographic data solutions have the potential to transform the way businesses make informed decisions. ” Dorus Olgers, Principal, Newion
“delphai’s deployment of AI at such a scale is a game-changer in the industry. By automating data acquisition and generation, they provide businesses with a reliable single source of truth, saving valuable time and enabling better decision-making. We are excited to support delphai in their mission to enrich companies with accurate and granular firmographic data.” Rick van Boekel, Partner, Airbridge Equity Partners
About delphai
delphai is building a unified firmographics hub to provide unmatched access to structured B2B company data. Our data is updated daily and covers tens of millions of company profiles, from over 15,000 sources. Every aspect of business identification is covered, from location and classification to product offerings, ESG topics, and more. By using cutting-edge AI NLP we are creating one unified hub for company data where teams can quickly access a single source of business truth when it comes to their company intelligence. Better data. Better business.
About Newion
We are Newion, a pan-European early-stage venture capital firm that invests exclusively in business software. With our involved and hands-on approach, capital, knowledge, and network, we help ambitious northwest European companies emerge as market leaders. You benefit from our extensive experience in proving and scaling business software propositions. We help you build a great business that provides our professional investors an excellent return on investment. If you are ready to power up your ambition and create a business that shines, like Collibra, Deliverect and Foleon we are the venture capitalist to talk to. Newion IV is supported by the European Union through the InvestEU fund.
About Airbridge Equity Partners
Airbridge Equity Partners is an investment firm providing flexible investment solutions to technology-driven companies in Europe. We partner with the founding teams of scalable and technology-driven companies seeking tailored solutions to achieve their next steps. Through a mix of capital, network, and know-how we try to support them in growing their business. Our entrepreneurial edge means we value strategic thinking as much as the nuts and bolts and know that progress rarely conforms to straight lines.
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