We're excited to announce that we've raised a $4.6 million seed round – one of the biggest ever in Denmark – to enable companies everywhere to become truly data-driven. The round is led by Frontline Ventures and Cherry Ventures, with participation from some amazing angel investors including Des Traynor (co-founder of Intercom) David Clarke (former CTO at Workday), Phil Chambers (co-founder of Peakon) and Petr Janda (CTO at Pleo).
Our background in building modern data infrastructure and analytics at some of the world's fastest-growing B2B SaaS companies over the last 5 years drove us to a conclusion: getting real business value out of your customer data is hard. Extremely hard, actually. There are a few reasons for this, but one in particular is that companies today use an increasing amount of SaaS tools for sales, marketing, support, finance and more.
Without a robust data infrastructure to centralize, clean and keep models in check, businesses are forced to operate in the dark – they have no way of understanding their customers and keeping track of their core metrics. This often leads to reporting being done in silos where marketing, sales, finance and engineering have their own reporting, and teams don’t agree on the most basic of metrics like revenue, number of customers or customer acquisition cost. At the same time, most companies are missing out on growth opportunities by not leveraging their data further, for instance by activating it in their SaaS tools to make their teams more productive and marketing campaigns more relevant.
Now, if you have a team of data engineers to spare, and money for 5-10 different data tools, maybe you can solve this yourself. But we believed we could build an amazing product to solve this problem – the product we wished we had in our previous roles.
That's why we built Weld – to make the modern data stack available in one powerful platform, and help companies get the most value out of their data. We are building the next generation data platform that allows companies to easily connect all their apps, build powerful data models and structure metrics that everyone in the organization agrees on. And the best part: this is all built on top of companies' own data warehouse, so they can keep control of their data.
Today, we are a team of over 30 Welders spread out across Denmark, the UK, Germany, Canada and Spain, working on this mission together.
This seed round will help us further improve our platform and expand our product offering with features like metrics store and visualization. It will also help us to expand beyond Northern Europe, more specifically in the UK and the US, during the first half of 2022.
We would like to thank our investors, advisors and our 40+ early customers for their support, guidance and belief in our mission. We're just getting started!
Jake, Jakob & Jonas.