Databento lands $100M Series C at $1.1B, four months after Series B
What's the deal? Databento, a Salt Lake City-based market data platform, has raised $100 million in a Series C round at a $1.1 billion valuation. Fifth Down CapitalDealroom has a profile for this one. Try Dealroom → led the round, with Fitch VenturesDealroom has a profile for this one. Try Dealroom → joining as a strategic investor and existing backers including NEA, DRW Venture CapitalDealroom has a profile for this one. Try Dealroom →, Tribe Capital, Redpoint VenturesDealroom has a profile for this one. Try Dealroom →, and HedosophiaDealroom has a profile for this one. Try Dealroom → following on.
Why now? The round lands just four months after a $97 million Series B. Chief executive officer Christina Qi said Databento was not actively fundraising, but revenue has more than doubled since that round and customers were pushing for faster expansion.
What's the endgame? Databento provides real-time and historical data across futures, options, equities, and indices through a single API. It aims to build the largest commercially available historical market data archive in the world, extending its coverage into more asset classes.
What about the expansion? The company says it has nearly finished infrastructure buildouts at nine data centers — including ASX ALCDealroom has a profile for this one. Try Dealroom →, HKEX, JPXDealroom has a profile for this one. Try Dealroom →, LSEDealroom has a profile for this one. Try Dealroom →, and several Equinix sites — marking the first phase of a global push to capture data directly at exchange colocation sites.
By the numbers: Databento reached the $1.1 billion valuation with just under 40 employees while remaining profitable. It says it has signed enterprise contracts with five of the six largest frontier AI labs, alongside quantitative trading firms, brokerages, asset managers, and digital asset clients.
The signal: At $100 million, this Series C sits in the top 10% of US fintech Series C rounds on record. Investors are backing an API-first challenger as trading and AI customers increasingly want programmatic access to detailed market data — though the growth and customer figures are company-reported, with limited independent evidence on how far they shift the position of established providers.
Read more: finsmes.com, databento.com, prnewswire.com
Image credit: Databento
