Nexla, a San Mateo, CA-based data operations platform, has evolved over the years to help customers build applications based on the data it manages and processes, with a focus on efficiency over growth, the company attracted an $18 million investment.
The funding round was led by Shield Capital, with participation from existing investors such as Blumberg Capital, Engineering Capital, Storm Ventures, Industry Ventures, and Liberty Global.
Shield Capital partner Mike Brown will be joining Nexla's board as part of the agreement.
Nexla's core concept now revolves around data products, enabling users to integrate, share, and collaborate with data within the platform.
Founder and CEO Saket Saurabh says that putting the data inside his software to work is the end goal now. “So we ended up with this very powerful concept of data products that we have built out, and the data product has become a central thing that then enables you to integrate the data in Nexla to share the data and collaborate with it.” he told Techcrunch.
The company has big-name customers, including DoorDash, Johnson & Johnson, LinkedIn, and American Express. Currently, Nexla has close to 100 employees and plans to expand to 150 in the coming months.
Company: Nexla, Inc.
Raised: $18.0M
Round: Series A1
Funding Month: July 2023
Lead Investors: Shield Capital
Additional Investors: Blumberg Capital, Engineering Capital, Storm Ventures, Industry Ventures, and Liberty Global
Company Website: https://www.nexla.com/
Software Category: Data Fabric Software
About the Company: Founded in 2016 by Saket Saurabh, Avinash Shahdadpuri, Jarah Euston, and Jeff Williams, with the mission to make ready-to-use data available to anyone, anywhere. Nexla offers a scalable and secure data operations platform that manages inter-company data collaboration which allows business users to send, receive, transform, and monitor data via an easy-to-use web interface.
Source: https://techcrunch.com/2023/07/25/nexla-has-defied-startup-conventional-wisdom-with-slow-and-steady-growth/