Narrative Wins Funds, Launches Data Marketplace
August 28 2020
Data acquisition and distribution software company Narrative has raised $8.5m in Series A funding, to support the launch of ‘a new category: Data Streaming’, replacing the data broker industry model. As part of this the firm has launched a Data Streams Marketplace.
Narrative’s platform promises to simplify the buying and selling of information by eliminating inefficiencies in data transactions. The privately-held firm was founded in 2016 and is headquartered in New York City.
The round was led by G20 Ventures, with additional funding from existing investors Glasswing Ventures, NathCapital, Revel Partners, Tuhave Venture Partners and XSeed Capital.
The new Marketplace offers data acquisition via an interface the firm says will be ‘familiar to anyone who has shopped online’: users can browse and purchase the data they need ‘in minutes’ without the need for extensive training, ‘legal wrangling and red tape’. The Marketplace sits alongside solutions for data discovery, onboarding, enrichment, identity resolution, and privacy and compliance.
Founder and CEO Nick Jordan comments: ‘As sales and services companies, data brokers have become intermediaries who are doing what they want with data in ways you don’t know. With a data broker, you get what they send to you. That’s how they make money. This is sub-par; it’s not agile – and you can’t optimize it. We have shortened the data supply chain by going direct – cutting out the broker, and making data liquid and transparent’. He adds: ‘We are excited to have the backing and expertise from G20 Ventures, and all of our investors as we scale up the business’.
The Narrative Data Streams Marketplace is immediately available and free to use, via app.narrative.io .
