DataFox, a company intelligence platform, has secured $5.0 million in new investment capital. The San Francisco-headquartered firm provides a cloud-based artificial intelligence (AI) data engine and derived business content, offering current, precise, and expansive company-level information. Its platform assists sales, marketing, and investing teams in identifying and prioritizing target companies to source more opportunities.
This funding round underscores investor confidence in DataFox's technology and market approach. The company's platform leverages a team of over 100 human analysts who verify AI-sourced insights on millions of businesses, delivering robust Company Data, Growth Signals, and Account Scoring. Notable investors backing DataFox include Goldman Sachs, Green Visor, Google Ventures, and Slack.
The newly raised capital is earmarked for strategic growth initiatives. DataFox plans to use the funds to further enhance its proprietary AI data engine, expand its comprehensive business content, and scale its operations to meet increasing demand. This investment will support the company's efforts to refine its data accuracy and broaden its insights, ultimately optimizing business decisions for its diverse client base.
DataFox has established a strong presence, serving both high-growth startups and Fortune 500 companies, with examples including UPS, Accel Partners, Bain & Company, Twilio, Zendesk, and Outreach. The company's trajectory culminated in its acquisition by Oracle, announced on October 22, 2018, with the transaction subsequently closing. This acquisition integrated DataFox's advanced AI capabilities into Oracle's cloud offerings.
The investment played a crucial role in DataFox's development, enabling it to build the robust platform that attracted significant industry attention and ultimately led to its integration into a major enterprise software provider. Its technology continues to contribute to enhanced business intelligence within its new structure.
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