Databento raises $97 million Series B

We're excited to announce that Databento has raised $97 million in Series B financing led by New Enterprise Associates (NEA), with participation from strategic and existing partners, including DRW, Redpoint Ventures, and Tribe Capital.

This investment positions us to accelerate our mission of building the market data platform for modern finance.

Databento was built by practitioners across quant trading and high-frequency market making. Over the course of our careers, we've come to realize that many of the industry's biggest pain points aren't really about the market data itself, but rather the operational issues that emerge in production while using the data.

Unlike the previous generation of market data providers, we've focused relentlessly on solving those problems. Our purpose is simple: to shorten the path from idea to production.

The numbers validate our thesis. We've grown revenue 6.65x year-over-year while maintaining 97% enterprise retention since inception. We've also reached profitability well ahead of schedule, without dipping into our last round of funding.

We've done so with incredible efficiency. With a team of fewer than 30 engineers, we've built a bare-metal footprint serving more than 20 petabytes of raw market data, written our own feed handlers for over 70 exchanges, and now support more than 3,000 companies worldwide.

This trajectory places us among the fastest-growing companies in fintech history—proof that teams are ready for a modern alternative to legacy market data.

We wouldn't be here without the trust of our customers and the wider Databento community.

Three years after launch, Databento has emerged as the market data provider of choice for many of the world's most demanding financial firms, whose combined assets under management and daily trading activity are measured in the trillions of dollars.

If you've ever traded a stock or options contract in a mobile app or filled your tank at a gas station, you've almost certainly relied on a product or service powered by Databento.

Today, our customers include many of the world's largest hedge funds, proprietary trading firms, broker-dealers, fintech companies, physical commodities traders, digital asset firms, and frontier AI labs.

Few categories are more foundational than market data, which underpins nearly every financial decision and accounts for more than $50 billion in annual spending across the industry. Today, it's easier than ever for anyone to write software, and this shift is fundamentally changing how financial systems are built.

Programmatic access to market data is becoming the industry default. We anticipate that three years from now, more finance professionals will know how to use a Databento API than a traditional terminal.

This round takes us one step closer to realizing our vision. We're expanding Databento across new asset classes and geographies while continuing to invest in the infrastructure that sets us apart. We've already begun building out coverage in Europe and APAC, and we expect to grow to over 20 data centers worldwide within the next six months. To support this expansion, we've secured more than 100 petabytes of usable storage capacity, more than doubling our previous footprint.

Our next chapter is only beginning, and we can’t wait to keep building.

Reaching profitability allowed us to approach this raise selectively. The round was significantly oversubscribed, drawing more than $300 million in demand, and we're grateful to be partnering with investors who share our long-term vision for the future of market data: Alumni Ventures, Blindspot Ventures, Cross Creek, DRW Venture Capital, Fifth Down Capital, Motley Fool Ventures, NEA, Operator Collective, TGVP, Tribe Capital, Trousdale Ventures, and Redpoint Ventures.

As part of this round, Rick Yang (Partner and Head of Technology at NEA) joins our Board of Directors, alongside Danielle Lay (Partner at NEA), who joins as a board observer.