Databento has raised $100 million in a Series C round at a $1.1 billion valuation. The company runs a market data platform for modern finance. Fifth Down Capital led the round, with participation from NEA, DRW Venture Capital, Tribe Capital, and Hedosophia.
Funding so far
The Series C follows a $97 million Series B earlier this year. Since closing that round, Databento has more than doubled its revenue. It also remained profitable.
Customers and AI use
Databento serves quantitative trading firms, brokerages, asset managers, commodities firms, and digital asset companies. It has signed enterprise contracts with five of the six leading frontier AI labs. The company closed the round with 39 employees.
Product model
Databento provides institutional-grade market data through a self-service model. The company has built infrastructure at the source for data capture and delivery. Its market data is available on demand for institutions and other market participants.
The company will invest the new capital in its market data infrastructure. It also plans to expand into additional asset classes. Databento announced the financing on November 12, 2026.