It’s a big day for us here at Crunchbase. We just closed a $30 million dollar Series C funding round and welcomed our newest investor, OMERS Ventures, to the Crunchbase community. OMERS led the round with participation from existing investors: Emergence, Mayfield, Cowboy Ventures, and Verizon Ventures. This milestone is also a great vote of confidence for the vision we had way back when we spun out of AOL/Verizon and TechCrunch in 2015. It’s the beginning of some big product and team investments that we hope will make Crunchbase even more useful for all of our users.
How We Got Here
When Crunchbase was first created in 2007, it was simply a quick reference tool at the bottom of a news site. Twelve years later, Crunchbase is an independent company, has one of the most visited websites in the world, a data platform with killer applications, billions of API calls each year, and partnerships with major media brands that syndicate our data to global audiences.
Today, 55 million users rely on Crunchbase to power their B2B dealmaking each year. They’re using our tools for sales prospecting and BD partnerships, fundraising, investing, vetting opportunities, and staying up-to-date on the quickly changing private company landscape. And something that I’m especially proud of: people are using Crunchbase data to understand and raise awareness for opportunity gaps that are still prevalent within the private sector.
The New Crunchbase Mission
I joined Crunchbase when we became an independent company with a clear plan for how we would succeed: become a solution, not just a utility. Crunchbase’s data alone is an amazing resource, but our users need that data to solve specific problems, and they need tools to help them do it. When we asked our community why they visit Crunchbase, they told us they were looking for signals within the data. They wanted signposts to direct them to their next business deal.
LinkedIn started with a similar approach: they created a resource (a constantly updating database of professional resumes) and then built a solution that solved the specific problem of recruiting. Their tools allowed users to promote their personal brand and gave hiring managers the ability to find great candidates.
We’ve created a resource of constantly updating company profiles, and have been building solutions that guide our users to their next business opportunity—whether it’s a sale, a partnership, investment, etc. Our tools serve the people who want to promote their company’s brand, as well as those who are actively prospecting for companies to do business with. And we’ve just barely scratched the surface.
What’s to Come
With this round of funding, we’re investing in some of our most-requested features and adding new functionality to make it even easier for users to solve problems using Crunchbase.
All-New Look & Feel
We’re giving Crunchbase a major facelift. Company profile pages, the place where most of our users start, are about to look a whole lot different. We’re improving the in-profile navigation, taking away clutter, adding custom insights, and speeding up load times. You’ll be able to see what matters in seconds.
Personalized Experiences
We recognize that each of our users has a unique set of goals, targets, and industries. They want Crunchbase to be the intelligent prospecting tool that takes on some of the heavy lifting. So, we’re creating an all-new logged-in homepage experience that’s personalized to each user and gets smarter based on the way you engage on site.
Streamlined Search
We’re reimagining our search tools to simplify the way you find companies on Crunchbase. This includes creating a guided search experience, bringing search front and center, and reducing option overload.
Improved API
Sometimes one size doesn’t fit all. For customers who want to bring Crunchbase data into their own databases, CRMs or even products, we offer customized integrations through our API. In the coming year, we’ll be releasing a new version of our API which includes powerful search functionality and faster response times.
Data Expansion
Our data is the foundation for everything we do. That’s why we’ve invested in building a best-in-class data acquisition engine that’s powered by contributors, automation, teams of analysts, partners, and machine learning. We’re committed to maintaining the quality of our data and continuing to expand our coverage of companies from around the world.
The Bigger Picture
We know that innovators look to Crunchbase for the latest updates and trends on the industries and companies they care about. That attention means that we have both an opportunity and responsibility to use our platform for more than just financial gain. So, in addition to the investments we’ll be making to our products, we’ll also be investing in our mission to help democratize access to opportunities.
We believe that if we can help level the playing field, or at least raise awareness for the fact that the field isn’t level, then we can begin to affect change. For example, we recently reported that female founders continue to receive only 3 percent of venture capital dollars with less than 10 percent of all venture capital deals going to women, People of Color, and LGBTQ founders. And it’s not just a pipeline problem. On average, female founders are receiving around 80 percent of what their male counterparts receive for similar rounds.
Access to, and the socialization of, this kind of information is the key to spurring change. We’ll be doing more socially conscious research, promoting companies within Crunchbase that are contributing to their communities, and continuing to fulfill our commitment to Pledge 1%. These are small steps that we hope will begin to add up, and set an example for the innovators who look to us for guidance.
And Finally, Thank You
Thank you to our employees, customers, investors, and community who have continued to believe in Crunchbase. We think you’ll like what’s coming next. And in the meantime, if you have any ideas or suggestions for how we can better serve you, drop us a line at hello@crunchbase.com.
If you want to help us build the next phase of Crunchbase, check out our careers page. We have new roles open across the company, and we’re looking for some great folks to join the team.
