Launches Data Streaming category to replace “broken” data broker industry model; unveils e-commerce offering
Narrative, the software company radically simplifying the acquisition and distribution of data, today announced its $8.5 million Series A led by G20 Ventures with additional funding from existing investors Glasswing Ventures, MathCapital, Revel Partners, Tuhaye Venture Partners, and XSeed Capital. The new funding supports the launch of a new category: Data Streaming, which effectively replaces the broken data broker industry model with a transformative solution.
As part of this category launch, Narrative unveiled its Data Streams Marketplace that reimagines the data acquisition experience with an easy-to-use e-commerce workflow familiar to anyone who has shopped online. The new offering enables anyone to browse and purchase the data they need in minutes, without the need for extensive training, legal wrangling, and red tape associated with today’s data brokers.
“‘I love my data broker,’ said no one ever. As sales and services companies, data brokers have become intermediaries who are doing what they want with data in ways you don’t know,” said Nick Jordan, founder and CEO of Narrative. “With a data broker, you get what they send to you. That’s how they make money. This is sub-par; it’s not agile—and you can’t optimize it. We have shortened the data supply chain by going direct—cutting out the broker, and making data liquid and transparent.”
Data Streaming radically changes the playing field, simplifying the way companies can find and acquire new data supply, while helping ensure security, efficiency, and transparency.
“As marketers we need to move with agility when it comes to acquiring data,” said Sabrina Galati, Marketing and Advertising Consultant at Tenx4. “It’s really impressive to see how Narrative has reimagined the purchasing of data with a simple, easy to use e-Commerce buying platform. In the past, we’ve had issues with data providers regarding transparency along with having a painstakingly long process in accessing the data. With Narrative’s Data Streams Marketplace, data transactions are transparent, quick, and cost-effective.”
With the global data monetization market estimated to reach $700 billion by 2025, Narrative is well-positioned to capitalize on a burgeoning data economy held back by a lack of tooling, massive discrepancies and inefficiencies around discovery, pricing, value, and delivery of the data.
“With data being the lifeblood of every organization, Nick and his seasoned team of data experts have presented the industry with a different point of view,” said Bob Hower, Co-Founder & Partner, G20 Ventures. “They have become the Amazon for data, delivering a vital solution to a global problem: ensuring transparency, control, and quality when it comes to data acquisition. Narrative’s Data Streaming Platform simplifies what has been a complex process that typically takes months and delivers it in seconds on demand.”
“We are excited to have the backing and expertise from G20 Ventures, and all of our investors as we scale up the business,” said Jordan. “We are excited to meet the needs of a booming market that expects to have affordable access to external data easily, transparently, and in a fraction of a time it has taken to date.”
The Data Streams Marketplace is part of the Narrative Data Streaming Platform which includes a comprehensive set of solutions for data discovery, onboarding, enrichment, identity resolution, and privacy and compliance. The Narrative Data Streaming Platform eliminates the inefficiencies in data transactions that hold companies back from maximizing the success of their data-driven initiatives, delivering data specificity at unprecedented scale and affordability while ensuring data fidelity and helping resolve today’s biggest issues regarding data management, transparency, and governance.
Narrative is a data streaming platform that simplifies the buying and selling of information by eliminating the inefficiencies in data transactions that hold businesses back from maximizing the success of their most important data-driven initiatives. Innovative brands and direct-to-consumer companies leverage Narrative’s technology to fuel powerful data strategies, build data monetization businesses, power growth marketing, and inform product development. Founded in 2016, Narrative is a private company headquartered in New York City.
About G20 Ventures
G20 Ventures provides early traction capital for East Coast enterprise tech startups, backed by more than 20 of the Northeast’s most accomplished entrepreneurs. For more, visit g20vc.com or follow us on Twitter @G20Ventures.