Firmographic data is information that can be used to categorize firms by a host of information — 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 can lead to bad decision-making that negatively impacts a business’s top and bottom-line revenue.
With the main goal of solving this situation, delphai, a B2B company AI data provider, announces a €4.7 million funding round (including a €900k grant from the German government) to finance their groundbreaking AI models that are specifically trained to understand the global business landscape. The round was funded by Newion, Airbridge Equity Partners, and existing investors Hyle Ventures and Trafo Investment / Millennium Venture Capital AG.
delphai operates in the firmographic data market, also known as Global Enterprise Data Management, which has been valued at €87 billion in 2022. By 2030, the market is expected to grow to €224 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.
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.
“Securing this round of funding is a testament to our unwavering 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,” says Dr. Robin Tech, co-founder and CEO of delphai.
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 database 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.
“We are excited to be part of delphai’s latest 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,” says Rick van Boekel, Partner, Airbridge Equity Partners.
Founded in 2020, 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. They also don’t use human click workers like their competitors. delphi has developed frontier natural language processing systems that automate and trace everything.
The Berlin-based company saw outstanding growth figures in 2022: with over 100% increase in recurring revenue and an impressive 5.5x growth in customers. Their biggest clients include three of the four largest global consultancies, strategy and M&A departments, and sales and data teams at blue chip companies. There are multiple reasons for this adoption, the key among which is their highly granular data, enhancement of existing (stale) data, and application of bespoke AI models for customers.
Read the orginal article: https://www.eu-startups.com/2023/06/berlin-based-delphai-secures-e4-7-million-to-become-an-ai-firmographic-intelligence-leader/
