Claravine Raises A $16 Million In Series B Funding
Claravine is a global enterprise data integrity pioneer. By activating standards across people and technology, we enable a proactive approach to data, bridging the silos that limit speed and decisions across digital experiences.
FREMONT, CA: Data integrity is a process and concept that ensures an organization's data's accuracy, completeness, consistency, and validity. By following the procedure, organizations ensure the integrity of the data and guarantee they have accurate and correct data in their database.
Claravine reports a $16 million Series B fundraising round for their platform, The Data Standards Cloud, which is a pioneer in data integrity. Grayhawk Capital, Next Frontier Capital, Peninsula Ventures, Kickstart Fund, and Silverton Partners were among the previous investors in the round, led by Five Elms Capital. Claravine expects to double its personnel this year, accelerate product development, and invest in its integrations to automate data standards across digital interactions with the support of this additional capital.
Claravine's latest round of funding comes as the company continues to expand significantly. Claravine is increasing its integration library to be compatible with more of the major platforms powering digital advertising, including measurement solutions, creative optimization, and customer data, as first-party data becomes more important and industry-wide demand grows for more solutions for data standardization, measurement, and personalization. The funding will also allow the company to invest in talent, with plans to hire key roles for product management, engineering, sales, customer success, and marketing teams.
“Claravine has carved out a new category that continues to redefine how top brands manage their digital experience. We have been exceptionally impressed by Verl, his team and their mission,” Stephanie Schneider, Partner at Five Elms Capital, said. “Claravine is positioned to become a dominant player in the space as it continues to scale its platform and offerings. We are proud to support the company on this exciting growth trajectory.”
In addition to raising its Series B, Claravine was also recently named a “Momentum Leader” and “High Performer” in the Spring 2022 G2 Rankings. The company has ranked consecutively for the last five quarters in categories such as best relationship, support and easiest to do business in the enterprise relationship index for the data governance category.