Foley & Lardner LLP advised lead investor New Enterprise Associates, Inc. (NEA) in Datafold’s $20 million Series A fundraising round. NEA was joined by Amplify Partners as an additional investor in Datafold’s most successful fundraising round to date.
Datafold is a data reliability platform that helps data teams deliver reliable data products faster. It has a unique ability to identify, prioritize, and investigate data quality issues proactively before they affect production. Founded in 2020 by veteran data engineers Gleb Mezhanskiy and Alex Morozov, Datafold has raised $22 million from investors, including NEA, Amplify Partners, and YCombinator.
Datafold seeks to expand its proactive approach to data reliability to help companies unlock more growth using high-quality data. One of Datafold’s first plans with this new round of funding is to expand its team.
New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors, and geographies. With nearly $24 billion in cumulative committed capital since the firm’s founding in 1977, NEA invests in technology and healthcare companies at all stages in a company’s lifecycle, from seed stage through IPO. The firm’s long track record of successful investing includes more than 230 portfolio company IPOs and more than 390 mergers and acquisitions.