Collibra nabs $50M at reported $650M valuation led by ICONIQ

Collibra nabs $50M at reported $650M valuation led by ICONIQ. Data governance and management startup Collibra — originally founded in Belgium but now based out of New York to help businesses in sectors like finance and healthcare to manage and comply with data retention policies — has raised $50 million in its latest round of funding. The company is not disclosing the valuation, but we heard that it is in the region of $650 million (which is a number that is being publicly reported in at least one database, too). This latest round is significant for a couple of reasons, one because of who’s doing the investing and one because of what it points to in the wider market for enterprise IT: The Series C is being led by ICONIQ Capital, the somewhat under-the-radar firm that acts both as an investment fund and family office for the likes of the Zuckerbergs, Sheryl Sandberg, Reid Hofmann and Jack Dorsey. According to Collibra, this Series C will be used to continue to expand its business, which is helping companies verify and manage their data. “Big data” has been the term du jour in the enterprise software space for at least the past two years… the phrase has become so over-used that it’s almost a punch line. However, behind the jargon is a hard fact that data is important. That’s the problem that Collibra purports to solve. Services that it covers includes compliance with BCBS 239, CCAR MRAs and GDPR; demonstrating data protection and security; fixing bad data; analytics; and data discovery. “Data’s day has come.