Databento Raises $97M in Series B Funding Round

The round also saw participation from strategic and existing investors, including DRW Venture Capital, Redpoint Ventures, and Tribe Capital, among others.

The company will use the funding to expand its coverage across more asset classes and regions while continuing to strengthen and grow its platform.

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Just three years after its launch, Databento has become one of the fastest-growing fintech companies. It now provides market data to some of the world's largest financial firms, which handle trillions of dollars in daily trading.

The company became profitable with a team of just 24 employees, more than doubled its active API users in recent months, increased revenue by 6.65 times year over year, and has maintained an enterprise customer retention rate of over 97% since it was founded.

NEA recognized Databento's growth potential and led the investment round. As part of the deal, NEA partners Rick Yang and Danielle Lay will join the company's board, with Yang serving as a director and Lay as a board observer.

"As a diversified trading firm, our experience with modern data workflows gives us a clear perspective on Databento's value, as we know how critical high-quality data and reliable tooling are in practice," said Kim Trautmann, Partner and Head of DRW VC. "Databento pairs robust data infrastructure with developer-friendly libraries that shorten the path from idea to production.

"It's rare to encounter a company where the product, the traction, and the founding team all point in the same direction with this much clarity," said Rick Yang, Partner and Head of Technology at NEA. "Databento has built the modern foundation this industry has needed for a long time, and the fact that it's earned trust everywhere from students running their first strategies to the world's most sophisticated trading desks isn't by design—it's what best-in-class looks like in a category this fundamental.

"Every firm in finance depends on market data, but accessing it has been one of the industry's longest-running bottlenecks. For decades, it's meant months of procurement and integration work to get to the starting line," said Christina Qi, co-founder and CEO of Databento. "Databento was built by practitioners across quant trading and high-frequency market making to eliminate this overhead, making institutional-grade market data available on demand.

About Databento

Founded in 2019 by Christina Qi, Databento is a market data platform for the financial industry. It provides real-time and historical data for futures, options, and equities through a single API. By managing its entire market data infrastructure, Databento delivers fast, reliable data while making it easier for developers and trading firms to access and use.

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