TickSmith Raises $20M Series A Funding to Enable Companies to Quickly Launch Data Businesses with its Data Web Store
Notable investors see the value in the TickSmith Data Web Store as it is proven to empower organizations to easily generate new revenue streams based on their data.
Montreal, QC JANUARY 27 2022 – Today TickSmith announced an investment of $20M Series A Funding to further market their game-changing data selling platform. Unlike any other solution on the market right now, TickSmith’s Data Web Store is a B2B SaaS platform that enables an e-commerce data shopping experience by providing all the tools necessary to prepare, manage, package and monetize data.
The investment round is led by Investissement Québec and followed by Fonds de solidarité FTQ, CME Ventures, Databricks Ventures, with additional funding from existing investors Anges Québec, Anges Québec Capital and Illuminate Financial Management. The new funding is aimed at expanding their sales and marketing, as well as commercializing their Data Web Store across new industry segments.
Francis Wenzel, CEO of TickSmith, says, “Data monetization is no longer limited to large enterprises! Selling data should be as simple as selling products in an e-commerce store, and data sellers of all sizes can now benefit from the same tools that power the largest, most robust data marketplaces in the world.”
“Our team is proud to have spearheaded this major round of financing, which has successfully attracted other strategic investors,” said Guy LeBlanc, President and CEO of Investissement Québec. “With this injection of capital and its solid management team, TickSmith can pursue its growth trajectory and ramp up its expansion into new markets, both here and abroad.” Dany Pelletier, Executive Vice-President for Investments at Fonds de solidarité FTQ added “Thanks to TickSmith, small and medium enterprises now have access to data monetization solutions, an important asset for businesses in this era. We were eager to join this financing round in this pioneering Quebec-based company that is well-positioned to lead this massive market opportunity.”
Andrew Ferguson, VP Corporate Development & Ventures at Databricks, says, “TickSmith was one of the first partners to implement Delta Sharing, an open data sharing protocol, into its data e-commerce application, enabling data providers and consumers to seamlessly share data across platforms. This tight integration highlights the partnership and mission alignment between our two companies. Similar to Databricks, TickSmith believes in an open data sharing economy which is why we are excited to invest and deepen the relationship.”
TickSmith, with its Enterprise Data Web Store, simplifies the online data shopping and distribution experience for data buyers and provides the necessary tools for data producers to connect, package, monetize and distribute their data. Already enabling the world’s leading exchanges and financial institutions to generate new revenue streams and increase their customer base, the Enterprise Data Web Store provides a proven, secure, end-to-end solution that removes the complexities of selling and buying data.